ICAN AUDIT COMPLIANCE RATINGS: OSUN, TWO OTHER STATES SCORED EXCELLENT

Osun State alongside two other States has emerged as the top three states in the recent ranking of all the 36 states and the FCT as of October 2023 according to the accountability index of Institute of Chartered Accountants of Nigeria (ICAN)

The ICAN’s rating on state’s compliance with audit rules as of October 2023 scored Osun, Ekiti and Lagos state as ‘Excellent’, seven states were scored ‘good’ while 26 others were rated ‘fair’.

ICAN commenced audit rating for states to assess financial management and accountability of state governments. 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.

An “Excellent” ranking for Osun state by the ICAN rules means “the Osun state government under Governor Ademola Adeleke has an excellent level of compliance with audit rules. Ensuring timely submission of audit reports with high level of quality and ensuring full implementation of audit recommendations.

This impressive performance of Osun State is another testimony of His Excellency, Governor Ademola Adeleke’s commitment to due process, transparency and accountability in the governance affairs of the state.