OUR CREDENTIALS

• Our member firm – PAACO, was engaged as the Lead Consultant to the Federation Account Allocation Committee (FAAC) Sub-Committee to provide technical (accounting) support and advisory role to the committee in the design of the Implementation Plan and Development of a framework for the Adoption of IPSAS across the Federation.
• We were integral to the delivery of the nation-wide sensitization and Capacity building workshops between years 2012 and 2013.
• We led the team that produced the National Chart of Accounts and the attendant General Purpose Financial statements (GPFS) Formats, including the Budgets and Programme Based Budgeting now published for domestication by the three tiers of Government in Nigeria.

Federation Account Allocation Committee (FAAC)

Abuja, Nigeria

2012

• PCL was appointed as a Consultant to the FAAC Sub-Committee on IPSAS Implementation in Nigeria to conduct a Monitoring & Evaluation exercise across the 36 states and select Local Government Areas in Nigeria, in a bid to ascertain the level of Adoption of IPSAS by these entities.
• We designed Questionnaires along the key IPSAS milestones and requirements of the IPSAS Implementation Roadmap in Nigeria and administered the Questionnaires across the sample entities.
• An analysis of the response to the Administered Questionnaires was done and findings reported to present the level of compliance on a scale of 0 -100% and comparison amongst the Federal and State Governments, as well as Local Governments.
• The output of this engagement formed the basis of peer-review amongst the tiers of government.

Federation Account Allocation Committee (FAAC)

Across Nigeria

2014

• Our Consortium was engaged as the IPSAS Consultants to a State in the North Central part of the country for the purpose of facilitate the full implementation of IPSAS at the State Level.
• On this engagement, we provided hand-holding support services to the State in the areas of: IPSAS-Compliant Budget Preparation/ Conversion; Conversion of 2013 Financial Statement to an IPSAS-Compliant Statement; 2014 Financial Data Capture Preparation of 2014 Cash IPSAS-Compliant Statement; Training and Application Deployment.
• This engagement also included a Study Tour on IPSAS to the International Federation of Accountants (IFAC),New York as well as interactions with Senior Accountant of the United Nations Development Programme (UNDP) involved in IPSAS implementation.

State “1” Government

North-Central, Nigeria

2014/15

• We provided Implementation Support to the State’s Ministry of Economic Planning & Budget in the area of Domestication of the National Chart of Accounts and advised on the preparation of the IPSAS-Compliant Budget – Programme Based Budgeting.
• We also worked with the State’s Office of the Accountant-General on the Design of an implementable IPSAS Implementation Roadmap and the Sensitization of top Finance-related officials on the need for and benefits of IPSAS Adoption.
• Our Loan-staff arrangement with the State include the secondment of our personnel to work closely with the client as it began IPSAS Implementation.

State “2” Ministry of Economic Planning & Budget

State “2” Ministry of Finance

South-West Nigeria

Ongoing

• Our Consortium was engaged as the IPSAS Consultants to a State in the North Central part of the country for the purpose of facilitate the full implementation of IPSAS at the State Level.
• On this engagement, we provided hand-holding support services to the State in the areas of: IPSAS-Compliant Budget Preparation/ Conversion; Conversion of 2015 Financial Statement to an IPSAS-Compliant Statement; 2016 Financial Data Capture Preparation of 2016 Cash IPSAS-Compliant Statement; Training and Application Deployment.
• This engagement also included training sessions on IPSAS budgeting and financial reporting for staff of the Ministries of Budget and Finance, respectively, who are involved in IPSAS implementation.

State “3” Government

South-West Nigeria

2016/17

• Our Consortium worked with this Agency (which was already running the Accrual Accounting System) to transit to Accrual IPSAS in line with the nationwide adoption of IPSAS.
• We supported with the GL set-up for Accrual IPSAS, the data capture of Opening Balances for the Agency to Go-Live on IPSAS and the identification of key assets of the Agency.
• The Agency also deployed out IPSAS-Compliant Accounting System for the posting and reporting of her financial transactions in line with the General Purpose Financial Statement format adopted in Nigeria

A Federal Government Agency in the Ministry of ICT

Enugu, Nigeria

2013

• Our member firms – PAACO & PCL, were appointed as a part of the team of consultants engaged by the FAAC Sub-Committee on Implementation of IPSAS in Nigeria to develop the Accrual Accounting Manual to be adopted by all tiers of government in Nigeria as we move towards the deadline for Accrual IPSAS in Nigeria by 2016.
• The Manual was developed in compliance with full Accrual IPSAS, and to serve as a guideline for all possible accounting transaction in an Accrual Accounting environment.
• Along with the Manual, we also developed a Guideline for 1st Time Adoption of IPSAS to guide all public sector entities as they adopt Accrual Accounting.
• The Manual was duly launched in April, 2015

FAAC Sub-Committee on IPSAS Implementation in Nigeria

Abuja, Nigeria

2015

• We organise Study Tours on IPSAS Implement for executive officers of our clients’ organisations to a number of countries and/or entities that have either Adopted or are in the process of Adopting IPSAS.
• These tours are designed to encourage high-lever learning and interactions between clients’ officials and the executive of benchmark institutions, to facilitate a good understanding of the workings of IPSAS – including the benefits and implementation challenges.
• Some of the locations visited on these tours include: Malaysia; United Kingdom; France; United States of America, amongst others and institutions visited/interacted with include: the Charted Institute of Public Finance and Accountancy (CIPFA); International Federal of Accountants (IFAC); United Nations Development Programme; Miami Dade County, amongst others

Various

Malaysia; United Kingdom; France; United States of America, amongst others

Different Times

• • We have designed, developed and delivered numerous IPSAS training courses for various clients both locally and abroad.
  • Our suite of IPSAS Training Programmes include:

   

• IPSAS Executive Training Courses;
• IPSAS Fundamentals for Accountants, Auditors and/or Budget Officers;
• IPSAS Accrual Accounting Training; and
• Other Bespoke IPSAS Trainings.
  • Our training programmes are designed to meet the Training Needs of participants through interactive and practical sessions using highly skilled subject matter experts for every module covered.
  • Key amongst out IPSAS Training clients are: FAAC Sub-Committee on Implementation in Nigeria; FGN IPSAS Implementation Committee; Federal Government Auditors across the Federation; State Governments – including the Federal Capital Territory Admininstration as well a number of Local

Various

Numerous Locations – Locally & Abroad

Different Times

• • Our IPSAS-Compliant Accounting Software has been deployed and is currently been used by the Office of the Accountant-General of the Federation for the consolidation and reporting of the Financial Report of the Federal Government of Nigeria (FGN) in compliance with IPSAS.
  • Our team worked with officers of the Consolidated Accounts Department of the OAGF to automate the data collection and collation of financial reports from the FGN Ministries, Departments and Agencies (MDAs), towards the consolidation of MDAs’ accounts.

Federal Ministry of Finance, Office of the Accountant-General of the Federation

Nigeria

Ongoing