The Association of Chartered Certified Accountants (ACCA), a top professional accounting body has said that professional accountants in Nigeria must work with the government in reducing the risk associated with infrastructure projects.

According to the accounting the body, these accountants will play an important role in bridging the infrastructure gap by improving the selection, financing and delivery of infrastructure projects.

ACCA disclosed this in its recent joint report with Chartered Professional Accountants, Canada, titled: “Bridging the African infrastructure gap”. The report stated: “In order for infrastructure projects to be successful, governments need the right team in place, which includes the professional accountant. “Governments need the right professional team in place to harness the benefits of additional investment while working to mitigate the significant risks associated with infrastructure projects.

“Accountants must play a critical role in closing the infrastructure gap by improving the selection, financing and delivery of infrastructure projects. The report noted, “the nation is expected to invest $618 billion in its infrastructure between now and 2040, however it has a projected investment gap of $210.3 billion its public sector needs to plug”.

Commenting on the report, ACCA’s Head, Nigeria, Thomas Isibor, said: “Across Nigeria there are a number of barriers that come into play when meeting our infrastructure needs. “African respondents from a survey of nearly 500 infrastructure specialists highlighted poor core public service infrastructure, railways, and water and sanitation as areas where the service provision falls below the global benchmark.”

SOURCE: https://www.trendingaccounting.com/2019/07/accountants-must-work-with-government.html