DILI, 22 July 2026 (TATOLI) — The Council of Ministers has approved a draft decree-law establishing the legal framework for the organization, powers and operations of the Accounting Council of Timor-Leste, in a move aimed at strengthening national accounting standards and improving the quality of financial reporting.
The draft decree-law was presented by Vice-Minister of Finance Regina de Jesus.
“The decree regulates the operations of this independent technical body, established within the Ministry of Finance, which is tasked with developing accounting standards, issuing opinions and recommendations, and promoting the adoption of uniform accounting procedures harmonised with International Accounting Standards, in order to improve the quality of financial information provided by entities covered by the national accounting system,” said in a statement.
It should be noted that the Accounting Council of Timor-Leste had already been established by Decree-Law No. 45/2025 of December 15th, as an independent technical body with technical and administrative autonomy, operating within the ministry responsible for public finance.
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