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“Be Abreast with IPSAS Adoption” – Akwa Ibom Assembly to LGAs


 

By Darlington UDOBONG

The member representing Ikot Abasi/Eastern Obolo in the Akwa Ibom State House of Assembly, Rt. Hon. Uduak Odudoh, has urged Chairmen of Local Government Councils in the state and stakeholders to be abreast with recent economic and financial reforms, particularly the International Public Sector Accounting Standard (IPSAS), for the benefit of society.

Rt. Hon. Odudoh, who stated this in Uyo on Wednesday during a Two-Day Capacity Building Workshop on IPSAS Budgeting Implementation by Local Government Councils in the state, organized by Local Government Service Commission, also tasked participants to “take the issue of IPSAS adoption by their respective Local Government Councils very seriously.”

He added that “IPSAS adoption in the Local Government Areas will ensure better accountability, transparency, and prudence in financial management of the Councils. It will also promote and enhance democratic dividends.”

Rt. Hon. Odudoh, who is Chairman of the House Committee on Finance and Appropriation, further assured participants of his Committee’s “willingness to cooperate and collaborate with the Local Government officials as they journey to become IPSAS compliant in their financial management.”

While identifying lack of medium- and long-term strategic plans as the major impediments to effective budget preparation and implementation in the local government, the lawmaker said stakeholders and professionals in the area “should be sufficiently strengthened to enable them cope adequately and effectively with its budgetary functions and responsibilities.”

The assemblyman also stressed the “need to established a compressive databank to guide budget preparation as well as provide indicators to monitor budget performance.”

In her remarks, the Permanent Secretary in the Local Government Service Commission, Mrs. Mfonobong Ukim, thanked Chairman of the House Committee on Finance and Appropriation and said his keynote address was apt in the local government’s journey and quest to financial autonomy.

She charged participants to embrace and take advantage of the opportunities offered by the workshop and use same for the betterment of Akwa Ibom State.

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