Government Notice No. 640 of 2020

Public Finance Management Act, 1999 » Regulations Prescribing Standards of Generally Recognised Accounting...

Title	Public Finance Management Act, 1999 » Regulations Prescribing Standards of Generally Recognised Accounting Practice
Department	National Treasury
Gazette	Regulation Gazettes, No. 43401 of 04 June, 2020, 2 page(s), 87.8Kb

STAATSKOERANT, 4 JUNIE 2020                         No. 43401    3

NATIONAL TREASURY
          NO. R. 640                                                                              04 JUNE 2020
          R. 
                                      PUBLIC FINANCE
                                                          MANAGEMENT ACT, 1999:
                      REGULATIONS PRESCRIBING          STANDARDS OF GENERALLY
                                                                                        RECOGNISED
                                                ACCOUNTING PRACTICE
                    I TT Mboweni, hereby  in terms of section  91 of the Public

1999 (Act No. 1 of 1999  - the Act), make this regulation  Finance Management    Act,
                                                                            prescribing the  standards set
                    by the Accounting
                                      Standards Board in  terms of section 89 of  the Act as set
                    Schedule.                                                                  out in the

'-__,,A                        .

SCHEDULE

The following standards  set by the Accounting  Standards Board in

of the Act is hereby                                              terms of section  89
                                        prescribed for the annual  financial statements
                   (as defined in the Act)  with effect from 1 April  2021.            of trading entities

(L)   GRAP 20 on Related   Parties;

(ii.)  GRAP 32 on Service
                                              Concession Arrangements:    Grantor;
                   (iii.) GRAP 108  on Statutory Receivables;

(iv.) GRAP 109   on Accounting by Principals  and Agents; and

(v.) GRAP 110    on Living and Non-living  Resources.

The above mentioned    accounting standard  can be found on the website

(www.asb.co.za).                                                          of the ASB

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Government Notice No. 640 of 2020

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