MBABANE, Eswatini: The Ministry of Finance has signed a Memorandum of Understanding (MoU) with the United Republic of Tanzania to strengthen cooperation in the adoption and implementation of International Public Sector Accounting Standards (IPSAS).
The agreement, signed on Tuesday, provides a framework for technical cooperation as Eswatini advances efforts to modernise public sector accounting and financial reporting.
Under the partnership, the two countries will work together on a structured gap analysis of Eswatini’s existing accounting and financial reporting processes. The cooperation will also cover capacity building and training, as well as technical support for the implementation of IPSAS.
The Ministry said the agreement forms part of Eswatini’s ongoing efforts to strengthen public sector financial management and fiscal accountability through improved reporting standards.
The adoption of IPSAS is expected to support greater consistency and transparency in the reporting of public finances, while strengthening financial management and governance systems.
The ministry said improved public sector reporting would also contribute to greater confidence in the management of public resources.
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