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GRAP 3 - National Treasury

ACCOUNTING GUIDELINE GRAP 3 Accounting Policies, Changes in Accounting Estimates and Errors All rights reserved. No part of this publication may be reproduced, stored in retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of the National Treasury of South Africa. Permission to reproduce limited extracts from the publication will not usually be withheld. Though National Treasury (NT) believes reasonable efforts have been made to ensure the accuracy of the information contained in the guideline, it may include inaccuracies or typographical errors and may be changed or updated without notice.

GRAP 3 on Accounting Policies, Changes in Accounting Estimates and Errors Issued February 2020 Page 4 of 39 1. Introduction This document provides guidance on the bases for the presentation of financial statements.

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