World Bank ready to support FG on accounting standards

The World Bank says it is ready to support the Federal government in the implementation of the International Public Sector Accounting Standards (IPSAS). Mr Frederick Yankey, leader of the Project Financial Management Units (PFMUs) of the bank, said this at a stakeholders’ workshop in Abuja.
“IPSAS will help in international benchmarking and comparability which is first rate, if Nigeria must emerge as one of the most economically stable countries of the world by 2020. The World Bank is ready to support the Nigerian government in the implementation of the international accounting system, seeing that the roadmap is already out.’’ Speaking at the workshop, Yankey said it was organised to further equip stakeholders of World Bank projects on the technicalities of financial management.
“We are here to enhance the capability of the participants to produce more viable financial reports and become more accountable for the funds remitted to them by the World Bank,’’ he said. The workshop, attended by representatives from the 36 States of the federation, was tagged `Scaling-up portfolio performance through provision of enhanced fiduciary services in PFMUs’.