From Laide Raheem, Abeokuta
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has charged the internal auditors working in various Ministries, Departments and Agencies of the Federal Government to intensify efforts in devising better, more effective and robust administrative mechanisms capable of eliminating waste and corrupt tendencies.
He gave the charge in his remarks at the opening ceremony of the Fourth Internal Auditors Retreat, in Abeokuta, Ogun State, yesterday.
The four-day retreat with the theme, “Enhancing efficiency and effectiveness in the administration of public resources: The role of internal auditor” was organised by the Office of the Accountant-General and Federal Ministry of Finance on the role of internal auditors in public financial management reforms.
The finance minister who was represented at the event by the Permanent Secretary, Special Duties, Federal Ministry of Finance, Okon Udoh, noted that judging from the theme of the retreat, the treasury has demonstrated full knowledge of the dire needs of the nation.
He added that the dwindling revenue profiles of the country and the attendant challenges on the cash flow required prudent management of available revenue through the public financial management reforms being developed and coordinated by the Office of the Accountant-General of the Federation.
While commending the Office of the Accountant-General Office for organising the annual retreat, Edun, however, expressed optimism that the communique that would be issued at the end of the retreat would proffer far-reaching recommendations that would be beneficial to all the tiers of the government of Nigeria.
Welcoming participants to the retreat, the Accountant-General of the Federation, Mrs. Oluwatoyin Sakirat Madein, explained that the overall objective of the retreat is to promote accountability and transparency in all the facets of the nation’s public finance and management architecture.
She stressed that accountability and transparency remain major watchwords for prudent financial management practices and major prerequisites for economic growth and development.
Madein implored the participants to take the opportunity of the retreat to identify the challenges to accountability and transparency in management of public funds, as well as cutting down the cost of governance in the most acceptable way.
In his goodwill message, the Chairman, Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyode, called on the auditors working in the government and public offices to enhance financial transparency by providing complete financial records and details.
Represented by the Director of Internal Audit of the anti-graft agency, Mrs. Idowu Oluwole Apejoye, equally charged the participants at the retreat to promote prudence in government spending and curb corruption, insisting that a detailed form of audit must be provided to enhance accountability.
Olukoyode said that the internal auditors should bear in mind that they play a very important role in financial records compliance, urging them to always promote transparency and exhibit proper ethical behaviour while discharging their duties.
“As internal auditors, you should set machinery in motion to manage resources to enhance service delivery, as this will strengthen prudence and prevent corruption.
“You should also work to provide detailed records of the government’s assets, resources and finances,” the EFCC chairman submitted.