IPSASSB APPOINTS ACCOUNTANT –GENERAL OF THE FEDERATION MEMBER OF THE IPSASB CONSULTATIVE ADVISORY GROUP.

IPSASSB APPOINTS ACCOUNTANT –GENERAL OF THE FEDERATION MEMBER OF THE IPSASB CONSULTATIVE ADVISORY GROUP.

The Accountant-General of the Federation, Ahmed Idris (FCNA), has been appointed into the membership Panel of the International Public Sector Accounting Standards Board Consultative Advisory Group (IPSASB CAG).

A letter confirming the appointment sent by James Gunn, the Managing Director, Professional Standards, IPSASB to the Honourable Minister of Finance, Mrs. Kemi Adeosun, dated  8th April, 2016, said the appointment which is for an initial term of two years is subject to re-appointment up to an aggregate of nine years.

The IPSAS Consultative Advisory Group is charged with the responsibility of providing:

(a)   Advice on IPSASSB’s strategy work program and agenda, including project priorities,

(b)   Advice on projects, including views on key technical issues or matters that may impede the adoption or effective implementation of IPSAS and

(c)     Advice on matters of relevance on the standards -setting activities of IPSASB amongst others.

It would be recalled that Nigeria has been implementing a number of public financial management reforms to strengthen controls, accountability and transparency, out of which is the implementation of the IPSAS.

Mr. Ahmed Idris’s (FCNA) appointment is seen as an endorsement of the giant strides made by Nigeria in Public Sector Finance Management Reforms. It is important to note that the progress being made in adoption of IPSAS is in line with globally accepted financial reporting standards aimed at entrenching probity, transparency and accountability in the management of public funds in the Country.

In December 2015, a team from the International Federation of Accountants (IFAC), based in New York, United States of America visited the Office of the Accountant-General of the Federation and wasbriefed on Nigeria’s progress in the implementation of IPSAS. They expressed satisfaction with the progress made by Nigeria under the leadership of the AGF.

The IFAC team equally commended Mr. President’s anti-corruption fight and various strategies put in place to strengthen the tools for good governance.

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