Abstract:
The paper attempts to review the legal and Professional framework Governing public sector that forms the basis of public sector accounting and reporting in the united republic of Tanzania. The International Public Sector Accounting Standards (IPSAS) issued standards that guide the preparation and presentation of public accounts; The URT (1977) constitution, the public Finance act of 2001 RE 2004 and the national Audit Act of 2008 forms the basic legal and professional document that guide preparation, accounting and reporting in the public sector. In addition, the paper articulates some of the major problems hindering their implementation and challenges including insincerity among the government officers, lack of professionals in the field and inadequate training of public accountants. The paper pointed out problems and challenges hindering the implantation of regulatory and professional framework as well as the way forward including provision of public awareness being major challenge on the implantation at the public sector level.
