Comptroller and Accountant General Atty. Janka A. Kowo, says, timely budget execution and reporting rest on the shoulders of comptrollers and accountants across government spending entities.
Atty. Kowo made the disclosure at the IFMIS reporting workshop, held over the weekend in Kakata, Margibi County.
The workshop was held under the theme: “Usage of the IFMIS Free balance Platform to generate reports and prepare financial statements’’
The training is part of ongoing efforts initiated and organized by the Comptrollers and Accountant General Department at the Ministry of Finance and Development Planning, that seeks to improve efficiency among Comptrollers and Accountants for sound financial reporting through the integrated Financial Management System (IFMIS) free balance platform across government ministries and agencies.
According to CAG Kowo, Accountants and Comptrollers across spending entities should put more time, energy, and skills to achieve good results.
“We have been having a series of issues over the years with our performance when it comes to having the right skills for financial reporting. Budget execution should be the center of transparency and accountability for good governance”, he explained.
According to him, an audit carried out by the General Auditing Commission shows the need to improve the reporting and execution process in a timely and robust manner.
“We also want to appeal to all Comptrollers and Accountants, especially under the Pro-poor Agenda for Prosperity and Development (PAPD) national development plan, we actually want to ensure we resolve many of the Audit issues that have been reported over the years”, he said.
“Currently we are reporting for the 2020/2021 fiscal reports and are hoping to improve in our reporting process in a timely manner. When you are invited for training, we are begging you to put in the time, for instance, the fiscal year 2020/2021 and we are fast and running out of time, when it comes to reporting. Make sure to finalize and submit your reports to enhance your consolidation”, he explains.
However, he said the team at the Ministry of Finance and Development planning is available financial technicians need help for good execution and reporting purposes.
“Whenever you have challenges, kindly contact the financial management and reconciliation unit, they will assist you and solve unresolved problems”, he noted
Reporting Accountants James M. Barbu and Timale K. Zizivily in separate remarks explained how Accountants and Comptrollers from spending entities should focus on the cash basis of IPSAS.
They noted that based on the above regulations of June 18, 2021, the Government of Liberia through the Ministry of Finance and Development Planning and the Comptrollers and Accountant General office in consultation with the General Auditing Commission has issued a statement that says all line Ministries and Agencies will begin to use the updated version of IPSAS cash Basis of Accounting for the preparation of the financial statement.https://thenewdawnliberia.com/training-in-ifmis-financial-reporting-for-comptrollers-accountants-climaxed-in-g-bassa/