AGF lauds Kwara’s compliance with IPSAS

Oluwatoyin Madein, the accountant-general of the federation (AGF), has lauded the Kwara State government’s transparent handling of public funds in compliance with the International Public Sector Accounting Standards (IPSAS).

Madein gave the commendation in Ilorin at the 44th retreat of the Federal Account Allocation Committee (FAAC’s) Sub-committee on IPSAS implementation.

The AGF praised Governor Abdulrahman Abdulrazaq’s commitment to public financial management, describing it as a model.

She said the choice of Kwara for the retreat was based on the exemplary performance of the state government, which she noted has been transparent in the account reporting system.

“Our choice of coming to Kwara to have this retreat is based on the efforts and performance of the state government in the preparation of financial statements. The government of Kwara has been standing out among other states of the federation in being compliant with the IPSAS.”

“I commend the executive governor of the state for doing this, and for supporting the ministry of finance and the accountant-general of the state to be able to achieve this milestone,” she said.

Madein, who is equally the chairman of the sub-committee for FAAC on IPSAS implementation, said the programme was aimed at reviewing the performance of all three tiers of government in Nigeria concerning compliance with IPSAS realisation, expressing satisfaction with the progress recorded so far.

“IPSAS is a way of boosting the accountability and transparency of the government to the entire world. Once the financial statements are IPSAS compliant it is very easy for it to be used by anybody in the globe because it is in tandem with global practice.

“That is the main reason why we are working hard to ensure that this is attained by the three tiers of government. And we are happy that we have recorded lots of progress on it,” she said.

Governor Abdulrazaq, in his remarks, said the progress made by his administration on IPSAS was a product of hard work, resilience and the unwavering support of various public officers and other key stakeholders.

He said the retreat was a moment for the government to reflect on its achievements, share experiences, and learn from one another to strengthen the financial management systems of the administration.

The governor, represented by Sa’adu Salau, his special adviser and counsellor, said, “The implementation of IPSAS has provided us with a standardised and transparent framework that has improved the accuracy and reliability of our financial reporting. This, in turn, has enhanced our decision-making processes and increased public trust in our governance.

“Our commitment to IPSAS reflects our dedication to transparency, accountability, and efficiency in public financial management. The journey has not been without its challenges, but our commitment to prudent management of public resources has made us achieve notable milestones”.