Treasury of the Republic of Cyprus

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The Treasury of the Republic of Cyprus, in cooperation with external advisors, has prepared a comprehensive Action Plan for the transition of the public sector to the accrual basis of accounting. The Action Plan has been devised having first taken into account the views and comments of all the Line Ministries involved, the Audit Office of the Republic of Cyprus and the Internal Audit Service.

The Council of Ministers, with a Decision dated 5 September 2016, adopted the said Action Plan and has authorized the Accountant General to take all the actions necessary for implementing it, in cooperation with all the Line Ministries, Departments and Independent Services.