This Day (Lagos)
Seriki Adinoyi
8 July 2009
Jos — Accountant General of the Federation, Alhaji Ibrahim Dankwambo, has urged preparers and users of financial reports, as well as accounting standard setters and the general public to pay more attention to accounting and financial reporting in the public sector.
He said this has become imperative seeing that, in Nigeria, like in any other countries of the world, government constitutes the largest entity of economy.
In a message to the participants at a two-day workshop on Accounting and Financial Reporting in the Public Sector held by the Nigerian Accounting and Standard Board (NASB) in Jos, Dankwambo noted that the workshop was timely considering that a Bill to establish the Financial Reporting Council (FRC) was already in the National Assembly.
He said the FRC when established would have seven directorates: Accounting Standard (private), Accounting Standard (public), Accounting Practices Standard, actuarial Standard, Inspectorate and Monitoring, Valuation Standard, and Corporate Governance.
Earlier in his welcome address, Chief Executive of the NASB, Mr Godson Nnadi, noted that effective and efficient management of the resources at the disposal of government and its agencies is a major concern of the present administration.
He added that this effort by government has helped to change the orientation of the citizens towards imbibing the positive attitude of efficient management of scarce resources, and has also contributed to the desire to re-build Nigeria's image among the comity of nations.
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