Comptrollers and Accountants across spending entities over the weekend climax a two days training on the new change of Financial Reporting International Public Sector Accounting Standard (IPSAS) 2003 to 2017 IPSAS integration in the port city of Buchanan, Grand Bassa county.
The days’ event took place in the port city of Buchanan, Grand Bassa County, and it was held with the theme: “Preparing Financial Statements; Referencing the Legal basis”.
It was organized by the Comptrollers and Accountant General Department, with support from UNDP, AfDB, EU, and SIDA.
The training seeks to improve efficiency among Comptrollers and Accountants on the new change of IPSAS 2003 to IPSAS 2017 for sound financial reporting through the Integrated Financial Management System (IFMIS) free balance platform across Ministries and Agencies.
Making remarks at the closing sections, the Director for Fiscal Audit Unit, Steve Joe-Joe, a proxy on behalf of Hon. Janka A. Kowo thanked and appreciates comptrollers and accountants for their time and efforts to complete such exercise.
According to Joe-Joe, the comptrollers and accountant department remain robust to build more capacity in financial reporting across the counties. ‘’ we will continue to undertake this engagement to give you refresher training because financial reporting is a critical component of accounting function ‘’ he added.
The department will continue training and refresher your mind because capacity building is key. ‘’ as we do our part, we hope you go to your respective offices and continue to practice what you have learn’’ says Joe-Joe.
Migrating from IPSAS 2003 to 2017, the process of reporting remains the same because accounting standard will change over time. It is our duties at the Ministry of Finance to take and lead the accounting function by given you the require knowledge and skills for standard reporting.
During the consultation process, we selected individuals from offices who will lead various ministries activities in developing and delivering upon what we are offering today. ‘’ so as you go out, you can undertake and conduct training in your respective ministries so that the knowledge can be disseminated’’ he added.
Reporting Accountants James M. Barbu and Timale K. Zizivily in separate remarks explained how Accountants and Comptrollers from spending entities should focus on the new changes of IPSAS 2003 to 2017 IPSAS.