The Government of Liberia (GoL) with support from the African Development Bank (AfDB) 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.
The exercise was conducted in Buchanan City, Grand Bassa County from September 20- 21, 2019 under the theme, “Improving Accountability through Financial Reporting.”
The goal was to strengthen the participants (Comptrollers and Accountants) by providing them with a clear understanding of Financial Management Processes during transactions.
Comptroller and Accounting General, Janga A. Kowo, said the two professional bodies have major roles to play in running the financial affairs of the country on a daily basis.
“There has been a little gap in reporting for spending entities across government, therefore, Accountants and Comptrollers have a major role to play, because they are running the day-to-day financial affairs of Liberia,” Kowo said.
He underscored the importance of the training, which he said aims to help the participants, who are responsible for financial records in government, particularly on a new style of reporting.
Kowo said after two days of training the participants in Public Sector Accounting Standards (IPSAS), “we expect Accountants and Comptrollers to go and practice what they have learned to improve the financial reporting standards.”
Deputy Auditor General, Wesley S. Nanka, said the training is to improve and prepare the participants to make a financial statement in their respective ministries and agencies, which will then be submitted to the office of Comptroller and Accountant General.
“We as auditors came here to facilitate on two aspects of the training, Nanka said.
He said that the two days focused on Public Financial Management, as well as on Audit Opinion and Financial Statements of Accounting for public transaction.
The training brought together over 50 participants.