ADSC director wants adherence to international financial standards

The Executive Director of the African Development Studies Centre (ADSC), Victor Walsh Oluwafemi, has called for strict adherence to international standards in public financial management to enhance public trust.

Speaking at the opening of the National Workshop on Current Trends in Public Sector Accounting and Auditing in Abuja on Monday, Oluwafemi highlighted the importance of modernising financial management systems to align with global best practices.

“Our aim is to ensure that our financial management systems are up-to-date with current trends and best practices and adhere to international standards,” said Oluwafemi.

“By staying informed and adopting innovative practices, we can significantly enhance the transparency and accountability of our public sector financial management. This, in turn, will build public trust and contribute to our nation’s overall development and progress.”

Oluwafemi urged participants to actively engage in the workshop, share their experiences, and collaborate for mutual success. He commended Rep. Bamidele Salam, Chairman of the House Committee on Public Accounts, and the Auditor General’s Office for their continuous support and collaboration.

“Together, we can build a better Nigeria where public resources are managed with integrity and efficiency, and accountability and transparency are the cornerstones of our governance,” he added.

He also emphasised the importance of stakeholder partnerships, stating that the ADSC is dedicated to providing high-quality training and consultancy services.

“Our collaboration with over 25 committees in the National Assembly and our track record of successfully training centre executives across Nigeria, West Africa, East Africa, and Southern Africa, with over 16,000 professionals trained so far, are testaments to the centre’s commitment to excellence,” Oluwafemi noted.