By Shire Abdi - Reporter
Kismaayo (Dawan) – A meeting on budget execution and International Public Sector Accounting Standards (IPSAS) implementation has officially opened in Kismayo, the capital of the Lower Juba region.
The meeting focuses on improving public financial management, transparency and accountability across government institutions.
Participants include the Accountant General of the Federal Government of Somalia, Mohamed Mohamud Abdulle; Jubbaland Minister of Finance, Ahmed Abdirizak Mohamed Handal; directors-general from the finance ministries of the federal member states; the Director-General of Administration and Finance of the Banadir Regional Administration; the Accountant General of the North East State; and representatives from Somalia’s public financial management development project.
Speaking at the forum, Somalia's Accountant General highlighted the importance of strengthening public financial management and accelerating the implementation of international public-sector accounting standards.
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Abdulle said the implementation of IPSAS would support the preparation of accurate and reliable financial reports that clearly present government revenue and expenditure.
The meeting is also discussing ways for the federal government, the federal member states and the Banadir Regional Administration to harmonise procedures for preparing and submitting financial reports.
Jubbaland Finance Minister said such meetings strengthen cooperation among the federal government, the federal member states and the Banadir Regional Administration, particularly in budget management, financial reporting and financial accountability.
The meeting, which is held every three months, will continue over the coming days with discussions on the implementation of IPSAS. Participants are expected to come up with recommendations on strengthening transparency, accountability and public financial management across the country.