The project is one of the first to emanate from DFID’s Investment Facility for Utilising Specialist Expertise, which was launched in January to provide 29 developing countries with technical and specialist assistance.
The mission to Nigeria will begin in May. CIPFA-qualified accountants will train officials working at several government bodies in Nigeria on anti-corruption practices in procurement.
Alan Edwards, CIPFA’s director of strategy and development, said the institute was thrilled to be launching its first DFID-IFUSE project.
‘Our work there will equip government officials with the knowledge and skills they need to better protect the public purse from fraud and misappropriation and ensure that valuable government resources are spent well and where they are most needed,’ he said.
‘CIPFA’s focus is on sound public financial management as the foundation of financial stability and economic growth. If, through projects such as IFUSE, we can improve the way public money is spent it will have a profound and lasting impact on the lives of individuals and on the business environment across the world.’
Two other IFUSE accountancy projects were announced today. The Association of Chartered Certified Accountants will train officials in Ethiopia's Ministry of Education on accountancy practice and the Institute of Chartered Accountants England and Wales will lead a project on audit regulation in Zambia.
International Development Secretary Justine Greening said the UK’s financial sector was ‘second to none’ and had the skills and experience to boost development around the world.
‘By helping developing countries to manage their own resources better and attract investment we can create the jobs and growth needed to lift people out of poverty,’ she said.
Also today, DFID announced that it was committing £4.5m to the International Federation of Accountants to help up to 10 partner countries in Africa and Asia develop international-standard professional accountancy institutes (PAOs) of their own.
In response, IFAC chief executive Fayez Choudhury, said strengthening PAOs was part of the federation’s public interest mission.
‘Well-functioning PAOs ensure a sustainable supply of professional accountants that support high-quality accounting practices and financial information in both the public and private sectors,’ he said.
‘They support enhanced confidence in business and transparency in use of public funds, giving rise to increased foreign investment and donor funding and improved government accountability and transparency – and therefore are essential to economic growth and stability.’
