The Bauchi State Government has directed accounting officers in ministries, departments and agencies (MDAs) to ensure implementation of the International Public Sector Accounting Standard (IPSAS) in their daily transactions and operations.
Our correspondent reports that local government areas of the state have also been directed to adopt and use IPSAS.
State Commissioner of Finance, A Yakubu Adamu, gave the directive on Wednesday while declaring open a two-day capacity-building workshop for officers involved in public financial management in Bauchi.
The Commissioner, Sirajo Jaja, who represented the state’s Accountant General, said IPSAS implementation allows for transparent, high-quality financial reporting, hence the state government’s decision to support such training.
He explained that the training is essential to the participants and the state and local government administration.
Jaja urged the participants to participate actively throughout the workshop and directed that comprehensive attendance lists be sent to his office for proper action for those who failed to attend.
Accountant General of the Federation Oluwatoyin Madein, who Mr Joshua Luka represented, said IPSAS is an international best practice, hence the need for the three tiers of governments to implement it.
Mr. Joshua stated that IPSAS implementation ensures public funds are well spent according to financial regulations.
He added that the only way to promote transparency and accountability in public transactions is for financial officers to be well-equipped with relevant accounting knowledge, especially the 49 financial standard rules in accounting and auditing.
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