The Auditor-General for the Federation has directed Ministries, Departments and Agencies to prepare their financial statements for auditing before the consolidation of government accounts.
The directive is aimed at strengthening financial accountability, transparency and compliance with public sector accounting standards.
The AuGF stressed that MDAs must ensure their financial records are properly prepared and submitted for audit within the required timeframe.
According to the Auditor-General, accurate and timely financial statements are essential for effective scrutiny of government revenues, expenditures, assets and liabilities.
The directive also seeks to reduce discrepancies and improve the quality of information contained in the Federal Government’s consolidated financial statements.
The AuGF urged accounting officers and heads of MDAs to take responsibility for ensuring that their financial records are complete, accurate and supported by relevant documentation.
The office warned that failure to comply with established financial reporting and auditing requirements could undermine public accountability and affect the credibility of government accounts.
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