Akwa Ibom State has been rated among the 1st three in implementing international Public Sector Accounting Standards (IPSAS) in the country.
The Permanent Secretary and Accountant General of Akwa Ibom State, Pastor Uwem Andrew-Essien, disclosed this Wednesday while declaring open a one-day workshop on continuous capacity building on IPSAS implementation for heads of other charges and Internal Auditors in Akwa Ibom State MDAs at the ICT Resource Centre of his office.
The Permanent Secretary stated that, though the State started with IPSAS Accrual cash basis, it has migrated to IPSAS Accrual, noting “Akwa Ibom is rated as one of the performing States as far as IPSAS implementation was concerned”.
The Accountant General said the workshop has become necessary to sharpen the skills of Auditors and Heads of Other Charges, whom he described as “watchdogs” in their various MDA’s
Pastor Andrew-Essien, who reminded the participants that they are not rubber stamps, advised them to ensure Government monies are properly documented and retired for accountability and transparency.
In his paper titled, contemporary issues in the implementation of IPSAS Accrual basis of Accounting, Mr. Imo Gideon Uko stated that IPSAS among other things seeks to establish high-quality accounting standards for use by public sector entities, provides guidance on issues and experiences in financial reporting in the public sector.
Mr. Uko said IPSAS implementation has come to stay in Nigeria as one of the critical reforms by Governments to enhance transparency and accountability in the public sector.
He suggested the continued sensitization of stakeholders, funding and capacity building of key finance operators to ensure full implementation of IPSAS.
The workshop organized by the Office of the Permanent Secretary and Accountant General of Akwa Ibom State is in partnership with Highflyers Professionals, a chartered accounting firm.