The Lagos State House of Assembly has initiated a comprehensive assessment and review of the 2022 Auditor General’s Report for the state’s Ministries, Departments, and Agencies (MDAs). The objective of this undertaking, as conveyed by Hon. Kehinde Olaide Joseph, Chairman of the Public Accounts Committee (State), is to employ the committee’s statutory oversight as a safeguard against financial mismanagement within the state.
During a gathering held at the Assembly complex on Monday, Hon. Joseph emphasised the importance of considering the report in alignment with the pursuit of greater efficiency and the best practices envisioned for the Public Accounts Committee (State).
“The Assembly is committed to commencing discussions and assessments of the audited report of the State Auditor-General on the Accounts of the Lagos State Government for the year ending 2022, having been entrusted to the Committee for thorough deliberations. This exercise will encompass the period from January 1 to December 31, 2022, encompassing the financial activities of all the state’s Ministries, Departments, and Agencies across all sectors of the state government.”
Hon. Joseph continued by outlining the key areas of focus during the review process, which includes inviting the heads of implicated MDAs to clarify the issues raised in the Auditor-General’s Report, an investigation into financial transactions’ completion, accuracy, and reliability, compliance with financial regulations, legislations, and accounting standards, evaluating financial performance and positioning for each sector, verifying revenue and budget performance, reconciling financial records with the MDAs’ Oracle system, and evaluating project management and control systems.
Acknowledging the substantial responsibility ahead, Hon. Joseph stressed that conducting this exercise is vital for the progress of the state and upholding principles of integrity.
“It is important to remember that there are high public expectations of this administration, given our reputation as a benchmark for probity and accountability in governance. This is not intended to be a witch-hunt against any MDA but to ensure that the committee’s statutory oversight serves as a deterrent against financial mismanagement in the state.”
He also conveyed his trust that the findings and recommendations from this exercise would be compiled and submitted to the House for further deliberation. Ultimately, Hon. Joseph emphasised that the outcomes of this exercise would facilitate better resource management for the state.