Types of pronouncements that the Board and Secretariat can develop

The Public Finance Management Act, Act No. 1 of 1999 (PFMA), requires the Board to set standards of generally recognised accounting practice. The Standards of GRAP that the Board develops include Standards, Interpretations and Directives. The PFMA also allows the Board to prepare and publish guidelines concerning these Standards.

Pronouncements developed by the Board

  • Outline research on, and propose principles to be applied in accounting for, a specific transaction or event.
  • Developed on a topic that is dealt with in an IFRS or IPSAS if it is a contentious or complex issue.
  • First step before specific guidance is developed.

Research Papers

  • Outline research and discussion of differences between existing accounting practices and new developments.

Standards of GRAP

  • Set out recognition, measurement, presentation and disclosure requirements for transactions or events.

Interpretation of the Standards of GRAP

  • Consensus on the appropriate treatment of a transaction or event.


  • Explain the application of the principles in the Standards of GRAP and illustrate accounting.


  • Set transitional provisions and transitional arrangements for the entities applying Standards of GRAP.

Pronouncements developed by the Secretariat

These pronouncements are not authoritative and do not form part of the Standards of GRAP. These pronouncements are prepared after consultation with the technical division of the Office of the Auditor-General and the Office of the Accountant-General.

Frequently Asked Questions (FAQs)

  • Address questions received by Secretariat, Office of the Auditor-General and Office of the Accountant-General.