State Government Of Osun – Report of the Accountant General & Financial Statement, 2016
Responsibility For The Financial Statements
These Financial Statements have been prepared in accordance with the provisions of the Finance (COntrol and Management) Act Cap LFN 2004. The Financial Statements comply with the Generally Acceptable Accounting Practices in existence.
The Financial Statements have been prepared in line with First Time Adoption of IPSAS Accrual Basis of Accounting. While all existing Assets and Liabilities of the state as at the commencement of the Financial year 2016 are currently undergoing valuation, the Financial Statements strictly contain activities for the financial year 2016 alone.
To fulfill accounting reporting reponsibilities, the Accountant-General is responsible for establishing and maintaining an adequate system of internal controls designed to provide reasonable assurance that the transactions recorded are within statutory authority and ensure that they are recorded accordingly.
Responsibility for the integrity and objectivity of the Financial Statements rests entirely with the State Government. Therefore, these Financial Statements reflect the Financial position of the State Government of Osun and its operations as at 31st December, 2016.
Also, I accept responsibility for the integrity of the information contained in the Financial Statements and their compliance with the Finance (Control and Management) Act 1958 as amended.
In my opinion, these Financial Statements fairly reflect the financial position of the State Government of Osun as at 31st December, 2016, and its operations for the year on that date.
A. A. Kolawole
State Government of Osun
Audit Certification of Account
In compliance with the provisions of section 125(2) of the Constitution of Federal Republic of Nigeria, I have examined the Accounts and the Financial Statements of the State Government of Osun for the year ended 31st December, 2016.
The audit was concluded in accordance with auditing requirements as specified in Audit Law. In the discharge of my responsibility by section 125(5) of the same Constitution, the Finacial Statements have been certified subjects to comments contained in the Management’ Reports.
It is to my knowledge that the Financial Statements strictly contain activities for the financial year 2016 alone while all existing Assets and Liabilities of the State as at the commencement of the financial year 2016 are currently undergoing valuation.
In my opinion, projects and programmes executed were satisfactory in consideration of fund employed.
Furthermore, the Financial Statements and related Schedules give a true and fair view of the state of affairs of the State Government of Osun as at 31st December, 2016.
State Government of Osun