Benue State Governor, Samuel Ortom, yesterday inaugurated a committee on International Public Sector Accounting Standards maintaining that its objectives included the overhaul of the entire public accounting system in the state to conform to internationally accepted standards.
He performed the ceremony at the old Banquet Hall of the Benue Peoples House.
“The importance of this committee lies in the fact that it is capable of modernizing the state government’s accounting system in line with internationally accepted standards,” Governor Ortom stated.
“We hope that with the adoption of the accounting standards the state would increase its eligibility for access to economic benefits from donor agencies and other sources of development funds.”
He said his administration welcomed initiatives that enhanced credibility before partners and inspired the confidence of the people.
The Governor stated that the goals of his administration which included the provision of good governance anchored on the fear of God and the entrenchment of core values such as transparency and accountability could only be realized if the state adopted and implemented international best practices.
“We have been assured by experts that this is the most popularly accepted financial reporting system that is known worldwide due to its consistency and water tight quality,” he stressed.
“Benue State cannot be operating in isolation from the rest of the world particularly in circumstances where we are aiming at getting it right.”
The ten-member committee has Mr. David Olofu, Finance Commissioner, as chairman, and Ujah Austine, Director, Main Accounts as Secretary.
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