Business - News - March 15, 2021

Nigeria’s accountant-general calls for quarterly audit of MDAs

To simplify the process of compiling the annual financial reports and make it easy to tackle corruption in the system, the Accountant-General of the Federation, Ahmed Idris, has called for the quarterly audit of ministries, departments and agencies (MDAs).
Idris said this when the Auditor-General of the Federation, Adolphus Aghughu, paid him a working visit at the Treasury House in Abuja.
Idris said the quarterly audit would create cooperation, understanding and harmonious working relationship between federal auditors and the MDAs.
Also, he said the periodic auditing exercise would help avoid the accumulation of piles of financial reports for auditing every year.
To realize the objective of conducting the audit of the MDAs every three months, Idris said there was need for Office of the Auditor-General of the Federation to renew the orientation of its staff on the concept and practice of auditing.
The AGF said it was time for modern auditing techniques to be adopted, with ICT tools that would make auditing quicker and more accurate.
“Auditors are not on a witch-hunting mission. They are to advice and give positive opinions. This will reduce embarrassment that Accounting Officers of MDAs receive in Public Accounts meetings,” he said.
The AGF said the OAGF and AUGF are two sister agencies with similar mandates that would work side by side for the success of the financial system.
For him, he said there cannot be audit without accounts, adding that they must sustain the cordial relationship for the good of the nation.
On the submission of financial statement for Audit, Idris said his office has been able to reduce the four years gap of non-submission to only one.
“As at today, the accounts for the 2019 are ready for submission, except for the fact that we have been asked to wait till work is concluded on the 2018 report,” the AGF said.
He urged the Auditor-General of the Federation to sustain the cordial relationship existing between the two agencies for the good of his office and the system; the good of the Nigerian people and the good of the Nigerian government.
Idris who congratulated the AuGF for being elected the Chairman of the African Board of Auditors, also extended his goodwill for collaboration and refresher training for Accountants and Auditors.
Speaking earlier, the AuGF, Adolphus Aghughu thanked the AGF for his support so far, noting this has been a major encouragement to him before and after his appointment.
He solicited for strong collaboration between the Treasury Audit Department of his office and the Consolidated Accounts Department of OAGF in order to timely resolve issues that may cause delay in the completion of work on the annual financial statements.

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

REA deploying off-grid solutions to bridge rural electrification gap

MEDIATRACNET The Rural Electrification Agency (REA) says it has been providing off-grid so…