The development of an Accrual Accounting Manual has been described as a pivotal milestone and deliverable towards the implementation of IPSAS in Nigeria”. This commendation is credited to the Vice President of the Federal Republic of Nigeria, Arch. Mohammed Namadi Sambo GCON. represented by the Honourable Minister of State Finance Amb. Bashir Yuguda at the launch of IPSAS Accrual Accounting Manual in Nigeria on the 28th of April, 2015 at the Sheraton Hotel and Towers, Ladi Kwali Hall Conference Centre, Wuse, Abuja.
He further stated that the Manual being launched has been developed as a comprehensive guideline for the practice of IPSAS compliant Accrual- Accounting in public sector entities across the Federation and it provides the policies, processes and procedures to adhere to and comply with in the recognition, recording and reporting of Financial transactions of the public sector entities. It has been carefully put together to meet the needs and aspirations of all officers involved across the three tiers of Government.
Arc. Samba ably represented then urged all the stakeholders to comply fully with the adoption of the Manual, accept and embrace it for use as it comes on board by the 1st January, 2016.
The Head of Service of the Federation Mr. Damladi Kifasi appreciated the Accountant-General of the Federation Mr. J.O Otunla and the sub committee members on IPSAS for putting together such Manual and also advised all Treasury Officers to be above board on their duties.
Also speaking, the Auditor – General Cross River State, Mr Chris Etim Nyong, while delivering his paper titled ”IPSAS Implementation in Nigeria: The journey so far” asserted that IPSAS will enhance the freedom of Information Act thereby leading to improved informed assessments of the resource allocation decisions made by government and thus increasing transparency and accountability.
Other people that presented papers include; The Permanent Secretary (Niger Delta), The Permanent Secretary (Lands and Housing), as well as Representatives of ICAN and ANNAN.
The AGF while giving the vote of thanks appreciated all the stakeholders for their support, efforts and commitment in making both the Manual and the Launch of it a success.He noted that Accountants and Auditors should be trained and retrained for the efficient deployment of the accrual manual.
He further appreciated the role of The Federation Accounts and Allocation Committee (FAAC) in setting-up a technical subcommittee to chart the road map for the adoption of International Public Sector Accounting Standards (IPSAS) by all tiers of Government since 10th July, 2010 and getting it to this point where the Manual is ready for use as well as the Coordinating Minister for her support.
He further stated that the Manual being launched has been developed as a comprehensive guideline for the practice of IPSAS compliant Accrual- Accounting in public sector entities across the Federation and it provides the policies, processes and procedures to adhere to and comply with in the recognition, recording and reporting of Financial transactions of the public sector entities. It has been carefully put together to meet the needs and aspirations of all officers involved across the three tiers of Government.
Arc. Samba ably represented then urged all the stakeholders to comply fully with the adoption of the Manual, accept and embrace it for use as it comes on board by the 1st January, 2016.
The Head of Service of the Federation Mr. Damladi Kifasi appreciated the Accountant-General of the Federation Mr. J.O Otunla and the sub committee members on IPSAS for putting together such Manual and also advised all Treasury Officers to be above board on their duties.
Also speaking, the Auditor – General Cross River State, Mr Chris Etim Nyong, while delivering his paper titled ”IPSAS Implementation in Nigeria: The journey so far” asserted that IPSAS will enhance the freedom of Information Act thereby leading to improved informed assessments of the resource allocation decisions made by government and thus increasing transparency and accountability.
Other people that presented papers include; The Permanent Secretary (Niger Delta), The Permanent Secretary (Lands and Housing), as well as Representatives of ICAN and ANNAN.
The AGF while giving the vote of thanks appreciated all the stakeholders for their support, efforts and commitment in making both the Manual and the Launch of it a success.He noted that Accountants and Auditors should be trained and retrained for the efficient deployment of the accrual manual.
He further appreciated the role of The Federation Accounts and Allocation Committee (FAAC) in setting-up a technical subcommittee to chart the road map for the adoption of International Public Sector Accounting Standards (IPSAS) by all tiers of Government since 10th July, 2010 and getting it to this point where the Manual is ready for use as well as the Coordinating Minister for her support.
It is note -worthy that the development and launch of this IPSAS Accrual Manual was facilitated by the resilient leadership of the Chairman FAAC IPSAS Committee Mr. Jonah Ogunniyi Otunla FCA,OFR.
K.N OFFIE (MRS).
DD (Press)
K.N OFFIE (MRS).
DD (Press)
