The Government of Liberia with support from the African Development Bank has concluded two days of financial reporting training in International Public Sector Accounting Standard for Comptrollers and Accountants across government spending entities in Buchanan, Grand Bassa County.According to a press release from the Ministry of Finance, the training was held recently under the theme: “Improving Accountability Through Financial Reporting.”
Accordingly, the goal of the training is to help strengthen Comptrollers and Accountants across spending entities by providing them with a clear understanding of financial management processes during transactions.Liberia’s Comptroller General Mr. Janga A. Kowo said Comptrollers and Accountants have major roles to play in terms of running the financial affairs of Liberia daily.
“There has been a little gap in reporting for spending entities across government, so therefore Accountants and Comptrollers have a major role to play because they are running the day today financial affairs of Liberia,” Mr. Kowo stressed.“My office saw it very important to help Accountants and Comptrollers who are responsible for Financial records for this government to get additional knowledge and how to go about with a new style of reporting,” he added.
According to Kowo, after a two – day intense training of participation in IPSAS, government expects Accountants and Comptrollers to go and practice what they have learned to improve the financial reporting standards of Liberia.For his part, Deputy Auditor General of Liberia, Mr. Wesley S. Nanka, said the two days straining is important to improving and preparing Comptrollers and Accountants to make financial statement in their Ministries and Agencies.
He noted that these statements will then be submitted to the Comptroller and Accountant General’s Office.“We as Auditors of General Auditing Commissions and Internal Audit Agency came in as one of those facilitators and presented on two aspects of the training,” Nanka asserted.
He indicated that the training during the two days focused on Public Financial Management and Audit Opinion and Financial Statements of Accounting for public transaction.The training brought together over 50 participants from spending entities across government.–Press release