Home / News / LAGOS ASSURES STAKEHOLDERS OF GLOBAL BEST PRACTICES IN ACCOUNTING PROCESSES

LAGOS ASSURES STAKEHOLDERS OF GLOBAL BEST PRACTICES IN ACCOUNTING PROCESSES

The Lagos State Treasury Office (STO) has promised all its stakeholders and the general public that it will continue to employ global best practices in the Accounting and Financial processes of government.

Speaking at the Technical Meeting of Directors and Heads of Accounts of Ministries, Departments and Agencies (MDAs) in Lagos on Monday, the State’s Accountant- General, Mrs. Abimbola Umar disclosed that the successful completion of the first ever IPSAS Accruals 2016 Financial Statements in Nigeria has improved the skills of accountants in the civil service.

She specifically commended the input of the accountants in the area of Fixed Assets Verification, saying that their achievements had made the State a pacesetter among their peers in the African continent.

The Accountant-General who expressed confidence that the State would meet up the three-year period for the full IPSAS Accrual compliance by the end of 2018 Financial Year, however, implored the accountants to always live up to their responsibilities as Finance and Accounts officers.