Governments Need Proper Financial Reporting for Good Policies—Diri

By Aduragbemi Omiyale

The Governor of Bayelsa State, Mr Douye Diri, has stressed the need for proper financial reporting as a form of guidance to the government in formulating policies that will be beneficial to the citizens.

Mr Diri gave this submission while declaring open the 2nd session of the Mandatory Continuing Profession Development (MCPD) programme of the Association of National Accountants of Nigeria (ANAN) at the Ecumenical Centre, Yenagoa on Tuesday.

The Governor said the burden was on the shoulders of the accountants, to discharge the responsibility to ensure that government and other institutions have correct and proper reporting in place.

“Proper accounting and reporting is the glory of the accountant. So, once you are not able to discharge this responsibility or duty, it then means that your glory is no longer with you,” Mr Diri, who was represented by his Deputy, Mr Lawrence Ewhrudjakpo, disclosed.

He further said, “Without positive and accurate reporting, governance would become a challenge. Countries, societies, and even families have made decisions that are very colossal as a result of wrong reporting in terms of the available resources and how those resources can be applied.

“There is no way government’s decisions will not be dislocated or disabled if proper financial reporting is not done by you as accountants. Our reporting must not end with one plus two in our balance sheets. But it must be analytical, futuristic and dynamic.”

Speaking further, he said, “Our financial reporting should be able to bring out all the dynamics and variables that will affect our micro and macro-economic decisions to make our economy viable.

“When we talk about resources, apart from man, the other most important resource is finance, because even the Bible acknowledges the powerfulness of money. It says money answereth all things. In any case, it also gave a proviso that the love of money is the root of all evil.”

He tasked the accountants to “use the opportunity of this Mandatory Continuing Professional Development programme to take the opportunities to build your capacity and competencies.”

“I want to state that the themes of your conferences have always been exciting. Your theme here and others your National President and Chairman of Council has referred to are quite apt and contemporary,” he added.

In his keynote address, the National President and Chairman of Council, ANAN, Mr Benjamin Chuka Osisioma, lauded the Bayelsa State government for the steps taken so far to develop the state.

He said the theme of the programme, Dynamics of Corporate Reporting and Governance, was designed to inform accountants of the processes of bringing together material information about organizations’ strategies, performance, prospects and governance in a way that reflects the economic, social and environmental contexts within which they operate.