Skip to main content Skip to accessibility
This website is not compatible with your web browser. You should install a newer browser. If you live in Jersey and need help upgrading call the States of Jersey web team on 440099.
Government of Jerseygov.je

Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

States of Jersey Accounting Standards 2022

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 14 March 2023:

Decision Reference:  MD-TR-2023-130

Public

Subject: States of Jersey Accounting Standards 2022

 

Report Title: States of Jersey Accounting Standards

Public

Decision(s):

The Minister decided to adopt a new version of the Jersey Financial Reporting Manual ('the Manual') which sets the Generally Accepted Accounting Principles (GAAP) based accounting standards to be adopted in preparation of the States of Jersey Annual Report and Accounts 2022 and to present the Manual to the States Assembly.

Reason for Decision(s):

Following the Accounting Standards policy, set in MD-2015-0134, the Manual has been updated in line with the the equivalent United Kingdom Financial Reporting Manual for the year ended March 2021, to implement GAAP-based accounting in the States of Jersey, and to ensure that the accounting standards applied are maintained appropriately.

Resource Implications: None.

 

Action Required: The Greffier of the States to be requested to arrange for the item to be presented to the States Assembly at the earliest opportunity.

Signature:

 

 

Signed By: Minister for Treasury and Resources

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

Back to top
rating button