- 3 Marks
PSAF – May 2019 – L2 – Q3c – Public sector fiscal planning and budgeting
Explain the importance of budget guidelines in public sector accounting and finance.
Question
According to Section 20 of the Public Financial Management Act, 2016 (Act 921), the Minister of Finance shall, subject to the approval of the cabinet, issue guidelines for the preparation of the budget for each financial year and circulate copies of the guidelines to each Covered Entity not later than 30 June each year. Budget Guidelines play an important role in budget development.
Required:
State and explain THREE (3) importance of Budget Guidelines in Public Sector Accounting and Finance.
(3 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Budget Development, Budget Guidelines, Public Financial Management
- Level: Level 2
- Topic: Public sector fiscal planning and budgeting
- Series: MAY 2019
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