The Federal Government has ordered its Ministries, Departments and Agencies (MDAs) to comply with the International Public Sector Accounting Standards (IPSAS).
MDAs that fail to prepare their individual statements of account would be locked out of the International Public Sector Accounting Standards (IPSAS), the government said.
The Director of Consolidated Account Department in the Office of the Accountant General of the Federation (OAGF) in Abuja, Mr. Abubakar Sadiq Velkuk, announced this yesterday at a three-day nationwide training and capacity building programme for public financial management operators in the three tiers of government.
He said: “As from 2023, any MDA that does not prepare its individual account statement will no longer be part of the IPSAS platform.”
The director urged participants at the training to pay keen attention to the lectures that would be delivered, saying these would equip them in preparing financial statements acceptable under IPSAS.