Nigeria’s Financial Statement in Compliance with IPSAS- AGF
Accountant-General of the Federation, Mr. Ahmed Idris has revealed that the 2015 Financial Statements of the Federal Government was prepared based on the International Public Sector Accounting Standards Accrual basis (IPSAS Accrual basis), thus making it the first of its kind in the history of Government’s financial reporting in Nigeria.
Addressing the ICAN board and council members yesterday, when the members of Premier Accounting Institute led by its president, Mr. Ismaila Mohammadu Zakari paid him a working visit at the Treasury House, Mr. Ahmed Idris explained that preparing the Financial statement based on IPSAS Accrual was in keeping with his promise to ensure that the Treasury maintains a more transparent, efficient and comprehensive public financial management that will provide a more accurate view of Government’s financial position at any given time.
He therefore commended ICAN for their unflinching support toward the implementation of the various public financial reforms being anchored by the Treasury and challenged them to make their voice much louder in the area of the Economy, saying that the body has the wherewithal to strategically engage the government with a view to improving the management of the economy.
Pledging the support of the Office of the Accountant-General of the Federation to the programmes and projects of the Institute, the AGF said “ this office will always support any ideas or programmes brought about by ICAN or any other professional body aimed at stemming corruption and improving probity in the management of the economy”.
The AGF therefore re-affirmed the Treasury’s resolve to provide a level playing ground for all professional bodies to operate, especially as it regards to the growth of the Economy. He commended the Institute for their various contributions in the development of human capital in the Country particularly in the area of public finance management and promised that the Treasury will further collaborate with the ICAN to improve the capacity of public finance managers in the country.
Earlier, the President of ICAN, Mr. Ismail Zakari extolled the exemplary leadership and professional competence of Mr. Ahmed Idris , describing him as a hard worker whose efforts has brought more public confidence and stability in the management of the nations Treasury.
He particular commended the AGF and his team for clearing the back-log of Government Statutory Financial statements which has been pending since 2012, by preparing and publishing the statements up to 2015, adding that “I had it on good authority that the 2016 is being finalized for publication while work on the 2017 has already commenced”.
The President further stated that ICAN was “ pleased with achievements recorded in the implementation of GIFMIS especially, the improved security of the system which has led to increased enrollment and participation by MDAs; as well as the near-seamless implementation of the TSA policy which saves the nation over 4 billion naira monthly in terms of ways and means”.
According to Mr. Zakari, as part of her contribution to improving transparency and efficiency in the management of public finance in the country, the institute has developed an Accountability index which is aimed at assessing the public finance management across the 3 tiers of Government.
He urged the federal government not only to participate in the ICAN Accountability index but also to strive to meet up with the highest accountability standards in the country saying ICAN is poised to make the report meet the best international standards.
Deputy Director Press OAGF
January 23rd 2018.