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New accounting plan to end pending bills menace, misuse in government

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President William Ruto chaired a Cabinet meeting at State House, Nairobi on Thursday, March 7, 2024.[PCS]

The Cabinet on Thursday approved a phased three-year transition to a full Accrual Based Accounting system for the country. Effectively, the financial statements prepared by the government in the fiscal year 2026/27 must be in the accrual format.

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