Finance Ministry Issues First Draft of Accounting Guidelines for Addressing War Losses

Minister of State at the Ministry of Finance, Mohamed Nour Abdel-Daim, revealed the first draft of financial and accounting guidelines for addressing losses and damages resulting from the war. These guidelines, prepared by the National Audit Office, are part of the state’s ongoing efforts to reform public finances, achieve recovery, and rebuild what the war destroyed.

The Minister of State explained that the draft aims to provide a unified accounting framework for recognizing damages inflicted on state assets, procedures, and cash flows due to the war, and for addressing these damages. It also ensures the fair and accurate presentation of financial statements for state entities, thus enhancing governance and transparency in the coming phase. He further emphasized the state’s commitment to adhering to international standards, which contributes to the accuracy and timeliness of information provided to decision-makers.