The Nasarawa State government is working to enhance transparency and accountability in its budgeting process by adopting the International Public Sector Accounting Standards, IPSAS, chart.
On Tuesday, during the opening of a two-day training for 90 officials in Lafia, Mr. Polinus Wahe, the Permanent Secretary of the Ministry of Finance, Budget, and Planning, shared this development.
Wahe clarified that the training, aimed at directors of finance, accountants, cashiers, and budget officers from Ministries, Departments, Agencies, MDAs, and tertiary institutions, was designed to improve how budget performance is reported.
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He further emphasized that the training is intended to elevate the quality of budget performance reporting in the state, aligning with international standards for transparency and accountability./
The adoption of the IPSAS chart, he explained, ensures that every financial decision is clearly and accurately reflected in budget reports, upholding integrity and transparency.
“This training aims to equip officers responsible for preparing the annual budget and budget performance reports across MDAs with the skills to manage the complex but rewarding tasks,” he said.
“The objective is not only to learn but also to transform our approach to budget implementation, ensuring accurate, timely, and transparent reporting.”
“This is essential for making informed decisions that will build trust among stakeholders,” he added.
Mr. Peter Aklo, the Director of Budget in the ministry also stated that the training would enhance budget performance reports in the state.
Aklo highlighted that the IPSAS chart promotes uniformity in budget performance reporting by using specific coding for every expenditure item, which can easily be interpreted on a global scale.
“The chart also supports transparency and helps address corruption, as every expenditure must be properly accounted for with the correct code,” he stated.
This move is part of a broader effort to align the state’s financial reporting with global best practices, ensuring that public funds are managed and accounted for with integrity.
Crediblenewsng.com
