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Decision No. 457 of 2023 Concerning the Formation of a Committee for the Transition to Accrual Accounting in the Public Sector

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Decision No. 457 of 2023 Concerning the Formation of a Committee for the Transition to Accrual Accounting in the Public Sector

Ministry of Finance

Preamble

In accordance with:

  • The Constitutional Declaration issued on August 3, 2011, and its amendments.
  • The Libyan Political Agreement signed on December 17, 2015.
  • The Libyan Dialogue Forum held on November 9, 2020.
  • The State Financial System Law and its regulations regarding the budget, accounts, and warehouses and their amendments.
  • Labor Relations Law No. 12 of 2010.
  • Cabinet Decision No. 68 of 2012 approving the organizational structure and competencies of the Ministry of Finance and its administrative apparatus.
  • The confidence granted by the House of Representatives to the National Unity Government on March 10, 2021.
  • The proposal submitted by the Director of Financial Resources Management and the Chairman of the Public Finance Reform Committee.
  • The necessity dictated by the public interest.

The following has been decided:

Article 1: Formation of the Committee

A committee is formed chaired by Mr. Dr. Mustafa Mohammed Saleh Fawkle, with the following members:

  • Dr. Osama Ibrahim Al-Sahai: Member
  • Dr. Abubaker Abu Al-Eid or Al-Qasim: Member
  • Dr. Ayad Ahmida Ashour Al-Raddad: Member
  • Mr. Al-Mahdi Hassan Balqasim: Member
  • Mr. Wissam Al-Saadi Al-Kilani: Member
  • Dr. Abubaker Faraj Sharia: Member
  • Dr. Abdusalam Mohammed Al-Oud: Member

Article 2: Tasks of the Committee

The committee formed under Article 1 of this decision shall undertake the following tasks:

  • Study the requirements for transitioning to the accrual accounting basis.
  • Study the experiences of countries that have adopted public sector accounting standards (IPSAS).
  • Develop a vision for project management, technical stages, and timelines.
  • Develop a vision for preparing the public sector for transitioning to the accrual accounting basis.
  • Submit appropriate proposals and recommendations for adopting the transition.
  • Submit a budget estimate for the project.
  • Communicate with various government agencies and identify requirements related to project implementation.
  • Study the risks associated with project implementation and submit necessary proposals.

The committee may seek assistance from anyone it deems necessary to accomplish these tasks.

Article 3: Reporting

The committee formed under Article 1 must submit its final report detailing its work results within one month from the date of this decision.

Article 4: Effective Date and Implementation

This decision shall be effective from the date of its issuance and shall be enforced by all entities concerned.

Issued on: September 12, 2023
Minister of Finance