Accounting and Reporting

Accounting and Reporting is the government’s primary accounting division. It provides professional guidance all government ministries and auxiliary units on matters of accounting and financial reporting.

The Accounting and Reporting Division is responsible for publishing the financial statements of the Israeli government and operating the central government back office, which includes accounting for the Accountant General Department and Central Clearinghouse, the Risk Management Unit, and others.

The division has a reciprocal relationship with all government ministries and other entities related to the government, such as: the Bank of Israel, various government companies, and the Social Security Institute.

Duties:

• Financial reporting duties:

• Preparing the consolidated financial statements and budget implementation report of the Israeli government.
• Managing and implementing reforms in government accounting, including adoption of the International Public Sector Accounting Standards (IPSAS).
• Auditing the financial statements of government ministries.
• Advancing areas of administrative accounting and financial reporting as an administrative tool in government.
• Managing the government accountant database and public tenders for auditing accountants at government ministries.

• Accountant General’s accounting duties:

• Accounting management of state loans, guarantees, and national debt.
• Managing and recording royalties and dividends.
• Maintaining accounting records and supervision of state investments in government companies.
• Managing extra-budgetary deposits and bi-national funds.
• Managing the government clearinghouse for government ministries.
• Operating the clearinghouse for subsidizing meals for state employees.
• Monetary oversight for government payments’ services.
• Transference of regular financing to government units and the Social Security Institute.
• Tracking the implementation of bank adjustments for the government.

• Duties of the Government Ministries Comprehensive Lateral System: the Government Ministries Comprehensive Lateral System serves most government ministries, providing infrastructure for operating a variety of services including finance, acquisitions, asset management, liabilities, human resources management, support processes, budgeting and more. The system provides government workers and executives with an assortment of tools for professional management of state resources to achieve government goals.