ICAN develops accountability index on public finance for govts

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The Institute of Chartered Accountants of Nigeria on Wednesday unveiled its latest Accountability Index, which assesses the level of public finance accountability of federal, states and local governme

nts.

She recalled that the institute had in 2017 launched the ICAN-AI for assessing the level of accountability and quality of public finance management practices across the three tiers of government in Nigeria. Adewuyi noted that the outbreak of the pandemic, with its great toll on public finances, had made it even more urgent for countries to develop a more robust assessment framework for their public financial management systems.

She said, “It is imperative that all governments assessed in the report consider the improvement/decline in their ICAN-AI rankings as a key performance indicator for assessing relevant government functionaries.

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