The Universal Basic Education Commission (UBEC) and State Universal Basic Education Boards (SUBEBs) are to adopt a new accounting manual for executing financial transactions in the delivery of education projects in the country.
Executive Secretary of UBEC, Dr Hamid Bobboyi said this while declaring open a 3-day Workshop for SUBEBs’ Director of Finance and Accounts (DFAs), Heads of Internal Audit and UBE Accounts desk officers on Tuesday in Abuja.
Dr Bobboyi said there has been renewed scrutiny in the management and disbursement of basic education intervention funds to ensure transparency and strengthen accountability in financial transactions in the system.
“The Commission in collaboration with the SUBEBs in 2019 finalized work on the newly developed IPSAS Accounting Manual”, the UBEC boss who was represented by the Deputy Director, Finance and Account, Mrs Rosemary Ujunwa stated.
“The manual contains all accounting functions, National charts of Accounts and sample book of accounts and financial records to be used by the Commission as well as SUBEBs” She added.
The workshop theme “Accounting and Financial Reporting Requirements for the FGN-UBE Intervention Funds”, had several paper presentations on accounts, tax, and records.
Reporting by Daniel Adejo; editing by Muzha Kucha