The objectives of Financial Reporting in public sector organizations include:

• Statutory/Legal Requirement: Financial reporting ensures compliance with legal frameworks such as the 1992 Constitution and the Financial Administration Act, thereby assuring the public of conformity to the law.
• Compliance and Stewardship: It provides assurance to responsible authorities and users that there is adherence to legal and mandatory requirements in the use of resources.
• Viability: Financial reporting allows for monitoring and evaluating the performance and predicting the economic conditions of public sector organizations, ensuring their continued operation.
• Planning and Authorization Information: It serves as a basis for planning future policies and activities and provides the necessary support for decision-making.
• Full Disclosure: Ensures transparency by fully disclosing the financial results of public sector activities.
• Effective Control: Provides adequate financial information needed for management purposes and ensures accountability for all funds and assets.
• Integration: Ensures suitable integration of departmental accounting with central accounting operations.