One thing that is constant in life is change. Gone are the days when government business is ‘no man’s business’. Today, what obtains in the private sector is equally applicable to the government sector. In fact, in practical term, there are more control measures in place now to curb the endemic corruption that is synonymous with the public organization to better standardize its operations.
This was one of the lessons learnt recently at the gathering of the Officials of Lagos Island East Local Council Development Area, when a Chief Accountant at the Finance Department, Rasak Olatunbosun Osunsan spoke at a retreat held at the Spicery Hotels, Campbell Street, Lagos Island to deliberate on the Council’s 2019 Appropriation tagged ‘Budget of Infrastructural Renewal and Sustenance’.
In his characteristic way of adding value to the system, the Council’s Second Signatory (SS) called the attention of participants especially the Chief Accounting Officer and other Senior Government Officials at the event to the financial implications of the executive actions in recommending and giving approvals to government programs and projects. He admonished the Executives to avoid any act of financial reclessnes and operate in line with the International Public Sector Accounting Standard (IPSAS). “No Executive recommendation or approval must be made without availability of funds to avoid unrealistic liability”, he said.
Osunsan who is also the CEO, Ruffwal Technologies, a company that trades in the Development and Sales of Application Softwares frowned at the unnecessary exposure of members of staff to Audit Issues. Issues of Non Current Assets (Fixed Assets) must be treated utmostly. There should be adequate and comprehensive Asset Register. This is because Assets must be depreciated adequately over the useful life. All these he said, must be considered to guide against problems during budget preparation and implementation.
Rasak Olatunbosun Osunsan is a Consultant/CEO @ Ruffwal Technologies. He can be reached via http://www.ruffwal.com or phone number 08033204305
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