1 PP

Treasury Circulars (1PP) are financial and accounting standards promulgated by the
Treasury in accordance with Section 4 of the Financial Procedure Act of 1957 [Act
61]. This section offers resources for government financial management. The
purpose of 1PP is to provide assistance and information while gathering financial and
certification data. This Treasury Circular is usually addressed to the CEOs or Chief
Financial Officers. They will address topics that are not covered by Treasury rules,
such as the budget timeline. The present version of 1 PP, on the other hand, already
covers seven important financial management categories: Budget Management (PB),
Government Procurement (PK), Public Money Management (WP), Asset
Management (KP), Strategic Financial Management (PS), Investment Strategic (PA),
and Housing Loan (PR).

Investment Strategies (PA) and Housing Loans are two of the seven primary financial
management areas covered by the current edition of 1PP (PR). Section 4 of the
Financial Procedure Act 1957 [Act 61] is especially significant since it states that
every accounting officer is subject to the Act and must fulfil such obligations as are
needed by Treasury orders on financial and accounting operations that are not in line
with the Act. As a result, all public officers and authorities should be familiar with
1PP. This is because, in accordance with the principles of government procurement,
such as public accountability, knowledge of the law, transparency, and doing
business fairly, they will do business fairly.