2015 financial statement: IPSAS compliant – Accountant-General

The Accountant-General of the Federation, Ahmed Idris, says the 2015 Financial Statements of the Federal Government was prepared based on the International Public Sector Accounting Standards accrual basis.
He said this in a statement issued by Rotimi Ajayi, Deputy Director, Press, Office of the Accountant General of the Federation, on Tuesday in Abuja.
Idris said this while addressing the board and council members of the Institute of Chartered Accountants of Nigeria.
He said that it was the first time the accounting standard would be used in the history of government’s financial reporting in Nigeria.
He explained that preparing the financial statement  based on IPSAS accrual was in keeping with his promise to ensure that the treasury maintained a more transparent, efficient and comprehensive public financial management that would provide a more accurate view  of government’s financial position.
Idris commended ICAN for its support for the implementation of the various public financial reforms being anchored by the Federal Government and challenged members to make their voice much louder in the area of the economy.
He added that the body had the wherewithal to strategically engage the government with a view to improving the management of the economy.
He also pledged the support of OAGF to the programmes and projects of the institute.
Idris 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.”
Idris re-affirmed the OAGF’s resolve to provide a level-playing ground for all professional bodies to operate, especially on the growth of the economy.
He commended ICAN for its various contributions in the development of human capital in the country, particularly in the area of public finance management.
He, however, promised that his office would further collaborate with ICAN to improve the capacity of public finance managers in the country.
Earlier, ICAN President, Ismail Zakari, extolled the leadership and professional competence of the AGF, describing him as a hard worker whose efforts brought more public confidence and stability in the management of the nation’s treasury.
He commended the AGF and his team for clearing the back-log of government statutory financial statements which had been pending since 2012, by preparing and publishing the statements up to 2015.
Zakari said: “I have it on good authority that the 2016 is being finalised for publication while work on the 2017 has already commenced.
“I am pleased with the achievements recorded in the implementation of Government Integrated Financial Management Information System especially, the improved security of the system which has led to increased enrolment and participation by Ministries, Departments and Agencies.
“I am also pleased with the near-seamless implementation of the Treasury Single Account policy which saves the nation over four billion naira monthly in terms of ways and means.”
Zakari said that as part of ICAN’s contribution to improving transparency and efficiency in the management of public finance in the country, it had developed an accountability index aimed at assessing public finance management across the three tiers of government.
He, however, 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.
This, he said, was because ICAN was poised to make the report meet with best international standards.