The Ministry of Finance issues guidelines to the NFPS entities establishing strict information requirements for all the entities of the NFPS on the quarterly and annual data on the stocks of accounts payable and arrears, and on the stocks of financial assets and liabilities (in accordance with the provisions of the COPLAFYP Law (Art. 152) and Regulation (Art 160 and Art 162) requiring that public sector entities (GADs, PEs, and social security institutions) submit financial and accounting information and financial statements and accounting reports to the MEF on a monthly basis). The guidelines should include a requirement on the provision of information on the future repayment schedule of arrears and other accounts payable. The guidelines should also establish information requirements on the steps taken by NFPS entities to prevent accumulation of arrears.
N/A