Ogun, Kaduna, Edo, four other States score 'good' in ICAN's audit ranking

Damilola Ajibola

Ogun, Kaduna, Edo, Delta, Rivers, Kwara, and Anambra scored ‘good’

in tbe Institute of Chartered Accountants of Nigeria (ICAN) rating on states’ compliance with audit rules as of October 2023.

While Lagos, Osun and Ekiti States, including the Federal Capital Territory (FCT) recorded ‘excellence’.

According to the accountability index of ICAN, 26 others were only rated ‘fair’.

The body commenced audit rating for states in 2014 to assess financial management and accountability of state governments.

States with a ‘fair’ ranking include: Abia, Adamawa, Bauchi, Bayelsa, Benue, Borno, Cross River, Ebonyi, Gombe, Imo, Jigawa, Kano, Katsina, Kebbi, Kogi, Nasarawa, Niger, Plateau, Sokoto, Taraba, Yobe and Zamfara.

The assessment focuses on compliance with audit rules and regulations and the quality and timeliness of audit reports, resulting in a rating of Excellent, Good, Fair, or Poor for each state.

According to Innocent Okwuosa, the 59th president of ICAN, “the rankings suggest an overall trend of improving compliance with the constitutional requirement to audit state and local council accounts since the introduction of the ICAN accountability index. However, significant variation still exists among states, highlighting the need for continued efforts to ensure consistent compliance and strengthen accountability practices across all states in Nigeria.”

He said the ranking provides valuable insights into progress and areas that require further attention.

A former ICAN president and managing partner of Ahmed Zakari & Co, Ismaila M. Zakari, drew attention to the index at the Audit Reporting Workshop of FrontFoot Media Initiative in Lagos on October 25 and 26, 2023.

A former ICAN president and managing partner of Ahmed Zakari & Co, Ismaila M. Zakari, drew attention to the index at the Audit Reporting Workshop of FrontFoot Media Initiative in Lagos on October 25 and 26, 2023.