State accountants of the Department of the Treasury, Financial and Monetary Cooperation of the Ministry of Finance have beefed up their knowledge on the CEMAC budgetary regulation vis-à-vis the reception of income and speedy payment of bills. Target is to further reduce the time needed to pay service providers (currently about 60 days) as well as the production of verifiable accounting documents containing relevant information for better decision-making.
They met in Yaounde on Friday February 21 under the auspices of the Director of Treasury, Serge Abouem A Boull, in an explanatory workshop on the harmonised accounting and budgetary nomenclature for 2014 on the theme, "Budgetary nomenclature and 2014 harmonised accounting: Strides in the progressive implementation of CEMAC directives."
Talking to the press, the Director of Treasury said the workshop testified government's willingness to respect sub-regional regulations. "Our objective is to produce quality and sincere accounting reports on the execution of the State budget. At the end of every year, State accountants are obliged to report on the management of the treasury and it is through the report that parliament can control government action. Reason why there is need to respect accounting procedures for traceability on the use of State funds and assets and for the credibility of the State," he said.
The workshop participants were lectured on five sub-themes ranging from, "Innovations in the 2014 Finance Law and circular," "Innovations in the accounting nomenclature of the treasury," "Treatment of transfers and the movement of funds in public accounting," to "Evolutions in the nomenclature of treasury accounts and on the new form of depositors and treasury correspondents with software application."
