The Lagos State in collaboration with the Association of Chartered Certified Accountants has recorded a breakthrough when staff in the state treasury office attained 100 percent pass rate in
International Public Sector Accounting Standards (IPSAS).
This feat according to ACCA followed a 16 month old relationship between ACCA and the Lagos State Government on the need for capacity building for the state treasury office.
The breakthrough came after a series of comprehensive trainings with the Big 4 firms.
Lagos State with its slogan, ‘the centre of excellence’ demonstrating the vision of her ambitious Governor, Akinwunmi Ambode who is a public finance management expert and fellow of Institute of Chartered Certified Accountants (ICAN); to be the third largest economy in Africa.
The state which is now number 5, with internal generated revenue (IGR) of over 34 billion naira (£80 million) monthly, is the largest city in Africa with a population of over 20 million people and accounts for over 60% of the Nation’s GDP and
Following a need for a more formal recognition for their skills, the ACCA Nigeria team led by Business Development Manager, Aderonke Adebule proposed a tailored solution in partnership with Strategic Partner, The New Synergy specialists (TNSS).
The 3+1 model is designed for professionals to enhance interaction, support and flexibility of the IPSAS programme, promoting blended learning and a practical approach to – International Public Sector Accounting Standards (IPSAS) implementation; using relevant case studies and scenarios. A pilot of 11 staffers attended the 3 day training and at the first attempt of the online test, 91% passed successfully, a worthy milestone for the office.
The certificate presentation was held on the 14th August and Tom Isibor, Head of ACCA Nigeria was present at the event. During his congratulatory message to the recipients present, he stated “The spirit of excellence that drives Lagos Stateis clearly evident and I am hopeful that it will engender further collaboration between the Lagos State Accountant General’s Office and the Accountant General of the Nation’s office on areas like capturing Legacy Assets and other solutions which ACCA can support to provide’.
The Accountant General, Mrs. Abimbola Umar chairing the occasion, heartily congratulated all the new IPSAS-certified staff members and praised them for a job well done. According to Umar “I would like to the thank the facilitators for s job well done and ACCA Nigeria for the positive in-roads consistently being made in the nation’s public sector”
The AG went on to endorse the IPSAS certification by announcing that all the 11 Certificate Recipients will be fully reimbursed for the cost of getting certified and pledged to support other staff interested. We have 2 sessions subsequently scheduled for this calendar year for the State treasury office.
ACCA is on a journey to build a network of advocates that will transform the public sector in Nigeria and wishes to congratulate the 11 Certificate Holders for their successful achievement; Mr. Olujimi Ige- Director, Financial Intelligence and Research, and Account Officers; Alimi Hafisah Adedoyin, Owagbemi E Dare, Tinubu Rafiat Yetunde, Ajiboye Olayemi. E, Salami Nosiru A, Odubore O. Adebola, Abdul W Adekunle, Dina Abisola and Ekemode Adetola