Lagos State Commissioner for Finance, Dr. Rabiu Olowo has expressed the State Government’s intention to ensure the entire Finance and Accounts employees are certified International Public Sector Accounting Standards, IPSAS, individuals, irrespective of their Grade Levels.
Olowo stated this on Monday at the opening session of ongoing training of 500 Finance and Accounts officers on IPSAS Certification course at NECA House, Alausa Ikeja.
While disclosing that the Civil Service already boasts of over 500 IPSAS certified Finance and Accounts officers, Olowo emphasised the need to increase the number to incorporate all officers responsible for managing the State’s finances across all the Ministries, Departments and Agencies.
“We want to simplify the process of preparing our Financial Statements; we want the new officers being trained to be able to support the State Treasury Office in the preparation of financial statements, and be very critical of financial figures, before forwarding their reports to the State Treasury Office, thereby reducing the time that would be spent in perfecting such financial reports”, Olowo said.
He explained that the determination of the State Government to make its officers 21st-Century compliant in accounting procedures necessitated the training to prepare the participants ahead of the examinations for IPSAS certification.
The Commissioner attributed the impressive financial ratings of Lagos State, by local and international agencies, to the professionalism and competence of the employees handling financial statements, maintaining that government will sustain and even surpass the status quo.
The Accountant-General and Permanent Secretary, State Treasury Office, (STO) Dr. Abiodun Muritala expressed the view that IPSAS certification of the 500 officers being trained will translate into more competent hands and core professionals handling the management of government finances.
“The State Governor has lent support to this training because he believes in IPSAS training. This he has shown by approving that all the Finance and Accounts officers be trained to migrate from the initial cash basis system of accounting because of some limitations inherent in the process”, the Accountant-General disclosed.
Muritala pointed out that the State Government was the first to adhere and embrace accrual basis accounting system in the country, saying that the training attests to the present administration’s willingness to abide by financial regulations and an affirmation of Lagos as pace-setting in laudable initiatives.
Also speaking during the programme, the Training Consultant to the State Government on IPSAS, Dr. Deji Awobotu, stated that the adoption of IPSAS requires a new set of skills on the part of officers, describing the training as a step taken in the right direction.
AJO/TMS/OS
