Malaysian Public Sector Accounting Standards (MPSAS) & Jawatankuasa Pengurusan Kewangan dan Akaun (JPKA)

The Federal Government of Malaysia’s financial statements are to be prepared using the accrual basis, in accordance with the Malaysian Public Sector Accounting Standards (MPSAS). MPSAS have been adapted from the International Public Sector Accounting Standards (IPSASs) issued by the International Public Sector Accounting Standards Board (“IPSASB”). IPSASB is an independent standard-setting board that develops high-quality IPSASs, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.

GRP complies with (MPSAS) requirements and currently consist of the following: