New Standards approved by the Minister of Finance
- January 24, 2022
- Posted by: Julianne Vissie
- Category: Blog
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The ASB issues Standards of GRAP. In terms of the PFMA, the Minister of Finance approves the effective dates of Standards. The Minister approved the effective dates of the following Standards:
|
Topic |
Effective date |
Adoption arrangements |
|
Improvements to Standards of GRAP 2020
|
1 April 2023 |
Transitional provisions included for each amended Standard.
Amendments can be early adopted per Standard. |
|
Amendments to GRAP 1 on Presentation of Financial Statements |
1 April 2023 |
Transitional arrangements are explained in GRAP 1. |
|
1 April 2025 |
Transitional provisions included in relevant Directives.
Standard to be adopted in its entirety. |
The Minister consulted on the effective date for the revision of GRAP 25 on Employee Benefits. The proposed effective date is 1 April 2023.
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