The Lagos State Auditor-General, Mrs. Helen Deile, has presented the Audited Financial Statements for 2019 to the State Permanent Secretary and Accountant-General, Dr. Abiodun Muritala.
While making the presentation on Tuesday, Deile noted that the report submitted for audit did not only show an improvement on previous years finances for the state, but conformed with basic International Accounting Principles and recommendations by International Public Sector Accounting Standards (IPSAS).
The Lagos State Auditor-General, Mrs. Helen Deile, has presented the Year 2019 Audited Financial Statements to the State Accountant-General, Dr. Abiodun Muritala, describing it as an improvement on the reports submitted in previous years#LASG
— The Lagos State Govt (@followlasg) May 26, 2020
She noted that the statement, “represents the overall performance of the entire State” for 2019, and detailed the Financial Performance, Position, Cash flows as well as comparison of budget and the actual amount for the year.
Review of the state Public Finance Management Law
Deile explained a need to review certain provisions of the Lagos state Public Finance Management Law as regards the timeline of submission of Financial Statements to the State Auditor-General by Ministries, Departments and Agencies (MDAs), which she said coincides with that of the State Treasury Office.
This, she said, results in a tight timeline for the auditing of the financial statements by the Auditor-General.
She suggested that both the office of the Accountant General collaborate with the office of the Auditor-General to propose a review to the State House of Assembly for consideration and approval.
The Permanent Secretary/Accountant-General, Dr. Abiodun Muritala in his response, noted that his office would run with the suggestions of the Auditor-general.
Muritala observed that the improvements recorded were a result of strict adherence to laid down rules and procedures, and promised that the State treasury office would not rest on its oars.