UBEC trains accountants, auditors on IPSASs
Universal Basic Education Commission (UBEC), Abuja, has begun the training of Director of Finance and Heads of Internal Audit of the State Universal Basic Education Board (SUBEB) across the 36 states.
Dr Hamid Bobboyi, the Executive Secretary of the Commission, stated this on Monday in Akwanga, Nasarawa State, while declaring open a four-day workshop on International Public Sector Accounting Standards (IPSASs) Accounting manual for SUBEBs DFAs, Head of Internal Audit and UBE accounts desk officers.
The News Agency of Nigeria (NAN) reports that the theme of the workshop is “IPSASs in the interest of the education sector and for effective service delivery.”
Bobboyi, who was represented by the Commission’s Director of Administration, Rev. Edwin Jarumai, said that the objectives of the training were to equip participants with IPSASs skills for effective service delivery.
“I am optimistic that this gathering will provide an opportunity to share experience, review our performance, identify possible challenges and design appropriate strategies to address the challenges towards full implementation of this manual come January 1, 2020.
“This in-depth training will expose participants to the most important requirements for the preparation and presentation of financial statements under accrual based IPSASs.
“The Federal Executive Council (FEC) at its meeting of 28th July 2010 approved the adoption of IPSAS-Cash Basis of Accounting with effect from 1st January 2014 and Accrual Basis from 1st January 2016 by all the 3 tiers of Government. (Federal, State and Local Governments) in Nigeria.
“In compliance with this directive, the commission in 2014 set up an in-house IPSASs Implementation Committee under my Chairmanship to draw-up a roadmap for the implementation in the Basic Education Sub-sector.
“The Committee recommended the development of a unified IPSASs Accrued Accounting Manual to be used by UBE Commission and SUBEBs, which is the first of its kind in the history of the Commission
“This Manual contains the Accounting policies, rules, procedures and principles to be followed by financial managers of Basic Education for the financial operations of Basic Education in Nigeria,” he said.
Bobboyi assured of the management readiness to provide all the necessary support, leadership, guidance, direction towards ensuring successful implementation of IPSASs for increasing and promoting transparency, accounting and efficiency in the management of FGN-UBE intervention funds.
The executive secretary urged the participants to pay full attention and be active to ensure effective service delivery.