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22 April 2014 | Will Green
A team of British accountants will travel to Nigeria to advise the government on how to tackle procurement fraud.
Staff from the Chartered Institute of Public Finance and Accountancy (CIPFA) will “train several government bodies to stop corruption in government procurement”.
The project is part of an initiative by the UK government’s Department for International Development (DFID) to improve financial management in developing countries. Under DFID’s Investment Facility for Utilising Specialist Expertise (IFUSE) scheme, teams from five chartered accountancy institutes will be travelling to countries including Zambia and Ethiopia to share international best practice.
Justine Greening, international development secretary, said: “The UK’s financial sector is second to none and its skills and experience can boost development across the world.
“By helping developing countries to manage their resources better and attract investment we can create the jobs and growth needed to life people out of poverty.”
Alan Edwards, director of strategy and development at CIPFA, said: “Our work there will equip government officials with the knowledge and skills they need to better protect the public purse from fraud and misappropriation and ensure that valuable government resources are spent well and where they are most needed.”
He added: “If through projects such as IFUSE we can improve the way public money is spent it will have a profound and lasting impact on the lives of individuals and on the business environment across the world.”
DFID has also committed £4.5 million to the International Federation of Accountants to help up to 10 partner countries in Africa and Asia develop their own professional accountancy institutes.