The document summarizes Nigeria's transition to adopting International Public Sector Accounting Standards (IPSAS). It discusses Nigeria conducting a gap analysis between its existing accounting standards and IPSAS requirements. Several gaps were identified, including issues around the legal framework, accounting for external assistance, consolidation of controlled entities, and timeliness of financial reporting. Nigeria developed a work program to address the gaps through actions like consolidating controlled entity cash flows and improving timeliness of financial statement submission. Successful adoption of IPSAS requires conditions like a sound cash-based accounting system, political support, technical capacity, and automated information systems.

1. Paper presented by: Ibrahim Hassan Dankwambo FCA,OON Accountant-General of the Federation of Nigeria Transition to International Public sector Accounting Standards (IPSAS) and their impact on Transparency , a case study of Nigeria

35. The End QUESTIONS & ANSWERS