Back and Next - Back and NextBudget Management Act under microscope
Thursday, March 20, 2008
The Department of State for Finance and Economic Affairs (DoFEA), on Tuesday, concluded a two-day sensitisation programme on Budget Management, Accountability Act and the Financial Instructions, at the Corinthia Atlantic Hotel, Banjul.
The seminar attracted accountants and managers from government departments and private sector institutions and organisations.
In his opening remarks, Mod Secka, the first permanent secretary at the Department of State for Finance and Economic Affairs, reminded the participants about the objective of the workshop, which revolved around the Act.
Another objective of this workshop, the PS went on, is to get feedbacks from participants on certain provisions that may require possible revisions in the Act and Financial Instructions.
Permanent Secretary Secka noted that the recent economic and financial performances of government has led to the successful implementation of the IMF-supported PRGF programme and the enhanced HIPC Initiative, which has eventually led the country to HIPC completion point.
“The current economic situation is robust with real GDP growth remaining strong at around 70% and inflation stabilised”, the Finance and Economic Affairs PS told the gathering of experts.
Mam Cherno Njie, the director of Audit at the National Audit Office, who gave the closing remarks on behalf of the auditor general, said one of the most significant changes in the government accounting environment in recent years, has been the advent of Integrated Financial Management and Information System (IFMIS).
He added that the implementation of a new accounting system is always accompanied with risks, both in terms of the configuration of the system and in accounting staff’s understanding of the system and ability to understand the impact of the entries that they make. He added that the entries may seem to disappear into the “black hole” that the server represents.
Mr Njie urged the workshop participants to ensure that audit recommendations are implemented, noting that the government and its departments should introduce mechanisms to ensure that this is done.
The seminar attracted accountants and managers from government departments and private sector institutions and organisations.
In his opening remarks, Mod Secka, the first permanent secretary at the Department of State for Finance and Economic Affairs, reminded the participants about the objective of the workshop, which revolved around the Act.
Another objective of this workshop, the PS went on, is to get feedbacks from participants on certain provisions that may require possible revisions in the Act and Financial Instructions.
Permanent Secretary Secka noted that the recent economic and financial performances of government has led to the successful implementation of the IMF-supported PRGF programme and the enhanced HIPC Initiative, which has eventually led the country to HIPC completion point.
“The current economic situation is robust with real GDP growth remaining strong at around 70% and inflation stabilised”, the Finance and Economic Affairs PS told the gathering of experts.
Mam Cherno Njie, the director of Audit at the National Audit Office, who gave the closing remarks on behalf of the auditor general, said one of the most significant changes in the government accounting environment in recent years, has been the advent of Integrated Financial Management and Information System (IFMIS).
He added that the implementation of a new accounting system is always accompanied with risks, both in terms of the configuration of the system and in accounting staff’s understanding of the system and ability to understand the impact of the entries that they make. He added that the entries may seem to disappear into the “black hole” that the server represents.
Mr Njie urged the workshop participants to ensure that audit recommendations are implemented, noting that the government and its departments should introduce mechanisms to ensure that this is done.
Author: by Assan Sallah
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