Emma Ujah, Abuja Bureau Chief

The Office of the Account-General of the Federation (OAGF) has intensified the implementation of the International Public Sector Accounting Standards (IPSAS) in order to enthrone greater accountability and transparency in Public finance management.

The Director over-seeing the Office of the Accountant-General of the Federation, Sylva Okolieaboh, said this at a training programme for public financial management operators, in Abuja, yesterday.

Mr. Okolieaboh who was represented by the Director of Audit Monitoring, Mr. Peter Anozie, said that the training programme was to improve the competencies and skills of government accountants and auditors in the preparation and presentation of IPSAS accrual accounting compliant General Purpose Financial Statements
(GPFS).

The suspended Account-General of the Federation, Alh Ahmed Idris, is facing charges over alleged corruption to the tune of N109 billion.

According to him, Federal Executive Council (FEC) on July 28, 2010 took the decision to adopt and implement the provisions of IPSAS by Public Sector Entities (PSE) in Nigeria and the subsequent setting up of the Sub-committee by FAAC to provide a Roadmap to guide the implementation at the Federal, State and Local Governments Councils level.

According to him, “This decision was taken to further deepen transparency and accountability in Public Finance Management (PFM).

“By this implementation, it is believed that we as a nation would be able to demonstrate higher accountability and stewardship in the management of public resources.”

The director lamented that since the implementation of IPSAS Accrual Basis of Accounting on 1st January,
2016, not all entities of government have been able to effectively migrate from Cash Basis Accounting to IPSAS Accrual Basis of Accounting, “due to certain draw backs.”

According to him, “one of the major draw backs that we have identifiedis inadequate manpower and capacity at the various levels of government to drive IPSAS implementation and that is why the Sub-committee has made concerted eftifort to
continue to build capacities across the three tiers of government.”

The three-day training, the director said, would focus on Accounting Policies to be adopted, Guidelines on the recognition of legacy assets, Highlights of what participants needed to know on IPSAS, Accrual Accounting Manual and other
Financial Reporting publications and template.

He expressed optimism that after the training, the participants would be “better equipped public financial management operators who would be able to challenge andchange the status quo at their various PSE to adopt only practices that are in conformity with the set standards.”

In his remarks, Mr. Chris Nyong, IPSAS Board Member, representing Africa/Middle East said that from 2023, Ministries Departments and Agencies of government that fail to adopt the IPSAS Framework would be impaired in accessing public funds.
Responding to a question on whether or not there would be sanctions for MDA that failed to adop IPSAS framework, Mr. Nyong said, “sanctions will come naturally because if you are unable to implement IPSAS as an MDA, it means that your access to public funds will be impaired.”

IPSAS, he said, would significantly address corruption in public offices as it would close many gaps being explored by corrupt officials.
According to him, “IPSAS intends a framework for accountability and transparency in public finance. IPSAS which Nigeria has elected to adopt is to institutionalise a framework for accountability and transparency. It is therefore very important for us as a country.

“Very much to a large extent, corruption is not only an issue of financial reports. It grows from the character of the individual but the IPSAS framework will be able to address the loopholes that human beings have created for corruption.”

The Secretary of FAAC Sub-Committee on IPSAS, Alh Abubakar Sadiq told the participants that as from 2023, all MDAs would start preparing IPSAS-compliant Financial Statements and that excuses would not be accepted.

The OAGF remains without a substantive Account-General of the Federation since the suspension of Alh. Ahmed Idris.