Ehsaas shifts to accrual accounting system

September 15, 2020 - Islamabad: Under the overarching Ehsaas framework, BISP becomes the first organization in the social sector institutions of the government to adopt modern and efficient way of maintaining its financials on International Public Sector Accounting Standards (IPSAS) Accrual basis. In line with the Ehsaas Governance and Integrity Policy that is binding on the Poverty Alleviation and Social Safety Division (PASSD) and its ancillary organizations, books of accounts within BISP are being shifted from legacy cash to accrual basis. Commenting on this institutional reform, SAPM Dr. Sania Nishtar tweeted, “Sitting under the umbrella of Ehsaas, we have successfully launched first phase of transition to accrual accounting within BISP for improving financial planning and management in accordance with best international practices.” Continuing, she said, “Adopting accrual accounting for financial reporting is intended to further the credibility and resilience of public finances under Ehsaas and helps to unlock the benefits of programme resources.”