Buchanan, Grand Bassa County - The Government of Liberia with support from the African Development Bank Country office, concluded two days of financial reporting training in International Public Sector Accounting Standard for Comptrollers and Accountants across government spending entities in the country in Buchanan City, Grand Bassa County.
The training held from September 20- 21, 2019, was 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 &; Accounting General Hon. Janga A. Kowo making remarks at the recently held event 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 to day financial affairs of Liberia” Hon Kowo stressed.
The training, he said, is important to help Comptrollers and Accountants who are responsible for financial records in government and, to provide them more training on a new style of reporting.
“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 him, after a two days intense training participation in IPSAS, we expect 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, Hon. Wesley S. Nanka said the two days training is important to improving and preparing Comptrollers and Accountants to make a financial statement in their Ministries and Agencies, which will then be submitted to the Comptroller and Accountant General (CAG) 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 on Audit Opinion and Financial Statements of Accounting for public transaction.
The training brought together over 50 participants from spending entities across Government.