AUDITOR-GENERAL, ACCOUNTANT-GENERAL SIGN 2024 LAGOS STATE AUDITED FINANCIAL STATEMENTS
The State Auditor-General, Dr. Muyiwa John Adetola and his counterpart, the Accountant-General, Dr. Abiodun Muritala and other stakeholders recently met in the conference room of the Office of the State Auditor-General, Alausa. Ikeja and signed the Lagos State Audited Financial statements for the year 2024.
In his remarks, the State Auditor-General, Dr. Muyiwa Adetola warmly welcomed the Accountant General/Permanent Secretary, State Treasury Office, the Permanent Secretary, Debt Management Office, Mrs. Rukayat Alake Sanusi and Directors in the Office of the Auditor-General and the State Treasury Office to the signing of the 2024 financial statements for Lagos State.
He equally appreciated Dr. Olufunke O. Tayo-Makanjuola, the Director, Government Accounts, and her team's impact, contributions, and commitment thus far. The Audited Financial Statements, he said, are crucial for ensuring accountability and providing stakeholders with an overview of our financial health.
According to him, "We received the Financial statements, prepared by the Accountant-General, and Audit swung into action immediately to meet the constitutional timeline. During the audit process, we came up with some critical findings, and we ensured that the necessary corrections have been made to ascertain that the Audited Financial Statement (AFS) is free from any material misstatement as at the end of the year under review”.
He also reiterated that the audit has been conducted thoroughly and all the necessary adjustments have been made to reflect an accurate and transparent financial position of the state.
Dr. Adetola stated that despite the improvement in the quality of financial reporting in the year under review, compared to the prior years, it is pertinent to highlight key areas of issues to elicit necessary corrections, systems and process improvement in subsequent financial years. These areas have, however, been compiled in a comprehensive management letter, which will be forwarded to the State Treasury Office in due course.
In his comments, the Accountant-General/Permanent Secretary, State Treasury Office, Dr. Abiodun Muritala said the State Auditor General and his team have done a wonderful job and assured them of a lot of improvement in the financial statements come next year.
According to the Accountant-General, "I am here to listen to what the issues are, but I must say that that was why I agreed that we need to have the Accounting Manual, as a document that will guide the State Treasury Office in preparation of its final accounts. The second thing we have done has to do with the continuous training of our colleagues at various MDAs. There is this, something I learned from one of my teachers, who said, "You don't blame me when you don't train me. So that was why we decided that, look, let us train you”.
He concluded by saying that he would look into all the key areas as highlighted in the Management Letter and promised to resolve all issues in the shortest possible time.
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