Govt presents 2019 financial statements 



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Govt presents 2019 financial statements 

Our Reporter



 

Lagos State Accountant-General Dr. Abiodun Muritala has received 2019 audited financial statements from the Auditor-General, Mrs. Helen Deile, who described the statements as an improvement on similar reports submitted to her office in previous years.



The statements endorsed by the duo will be made public and published in national newspapers in accordance with international best practices and in line with the transparency and accountability policy of the Governor Babajide Sanwo-Olu administration.

Speaking about the statements, the Auditor-General said that the reports met basic international accounting principles as well as recommendations by the International Public Sector Accounting Standards (IPSAS).

She expressed satisfaction about the reports as presented by the Accountant-General and advised the finance and accounts officers at the Treasury Office not to rest on their oars, as there is room for improvement.

Dr. Muritala thanked the Office of the Auditor-General for the seamless working relationship between the two offices and assured the Auditor-General that future financial statements would be improved on, as his office would take cognisance of the advice and suggestions communicated to it through the Auditor-General.

Affirming that the 2019 financial statements represent the overall performance of the state, Deile said that the financial statements comprised statements of financial performance, statements of financial position, statements of cash flows as well as statements of comparison of budget and actual amount for the year.

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She said the timeline set by the Lagos State Public Finance Management Law, 2011 for submission of financial statements to the Auditor-General by Ministries, Departments and Agencies (MDAs) and parastatals coincides with that set for the Treasury Office.

The Auditor-General said that there was need to amend certain provisions of the Financial Management Law to aid preparation of annual financial statements and financial auditing.

According to her, the Office of the Auditor-General, in conjunction with the Office of the Accountant-General, would work together to propose a review to the House of Assembly for consideration and approval.

Deile advised the Accountant-General to pay attention to the management reports sent to him from the Office of the Auditor-General and adhere to the content of same.

In response to the observations and advice of the Auditor-General, the Permanent Secretary/Accountant-General attributed the improvements recorded in the financial statements presented to the Auditor-General to strict adherence to laid down rules and procedures needed in preparing financial statements.

Dr. Muritala thanked the Office of the Auditor-General for the seamless working relationship between the two offices and assured the Auditor-General that the future financial statements would be improved on, as his office would take cognisance of the advice and suggestions communicated to it through the Auditor-General.

Govt presents 2019 financial statements 

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