…rebrands for better efficiency
Accountants in the country have debunked the notion that financial crimes in the country are aided by members of their profession, saying they are determined to fight the crime.
Comfort Olu. Eyitayo, the 57th President of the Institute of Chartered Accountants of Nigeria, ICAN who let this out while addressing pressmen yesterday in Lagos to mark the International Accounting Day 2021 said accountants are better equipped to fight financial crimes in the country.
“It has been mentioned at several fora that financial crimes cannot occur without the connivance of accountants. While this is true sometimes, I want to reiterate that not all financial malpractices involve professional accountants.
“When we have such few occurrences, where professional accountants are involved, such incidents are addressed frontally by the Institute.
“The global umbrella body of professional accountants, IFAC, also strongly disapproves such acts. I would like to categorically state that ICAN has always frowned and continues to frown at any form of professional misdemeanor among its members. We have well-established disciplinary mechanisms against any erring members.
“It has been mentioned at several fora that financial crimes cannot occur without the connivance of accountants. While this is true sometimes, I want to reiterate that not all financial malpractices involve professional accountants. When we have such few occurrences, where professional accountants are involved, such incidents are addressed frontally by the Institute.
The global umbrella body of professional accountants, IFAC, also strongly disapproves such acts.
“I would like to categorically state that ICAN has always frowned and continues to frown at any form of professional misdemeanor among its members. We have well-established disciplinary mechanisms against any erring members”, Enitayo stressed
According to her, ICAN is joining the International Federation Accountants (IFAC) and other Professional Accountancy Organizations (PAOs) all over the world to mark this special day, saying that the celebration is necessary to further project the immense roles of professional accountants globally.
While extolling the qualities of accountants, she stated that the day to commemorate the impact of accountants on the economy worldwide.
Professional accountants add value by ensuring businesses perform optimally; facilitate governments efficacy in the generation and management of revenue and disbursement of expenditure; ensures sustainable control of costs across government institutions and private enterprises; proof processes to forestall financial crimes; offer quality judgements to aid wholesome investment decision; provide pragmatic international trade models; among many other activities.
“Professional accountants offer the information that keep the business world moving and collaborate with other actors in the economy to create sound business environments. We are the soul of businesses, the conscience of society and the backbone for industrial growth. We provide strategic direction for corporate entities even as business owners rely on our expertise for their survival. We are, unarguably, pivotal to assuring the going concern of all economies”, she opined
According to her, ICAN recently embarked on a number of initiatives that would enhance not only the image of ICAN, as an Institute, but that of our members, adding “We are determined to continue to explore all available opportunities to constantly improve the skills, knowledge and competencies of the over 55,000 members”.
“We enlivened our identity with the launch of a new logo. Our logo is our identity and represents our essence. The old logo has evolved with us for 56 years and has come of age. This necessitated the decision of the Governing Council to respond to global dynamics by opening a New Chapter but the same Charter.
“As our members are the number one stakeholders of the Institute, we took it upon ourselves to regularly update them, harvest their inputs and harmonize them into our overall activities. We are achieving this through the novel “Time Out With ICAN President” that we initiated in the Presidential Year.
“We are engaging a number of IFAC-recognized PAOs in countries where our members are migrating to in order to sign Reciprocity Agreements with such recognized bodies. This is to enhance global job mobility of ICAN members and to position ICAN certificate as a truly global one.
“The ICAN Entrepreneurship Centre initiative has reached an advanced stage and I am glad to inform you that we are receiving the encouraging support and collaboration of agencies such as the Bank of Industry in the establishment of one of the Centres initiatives”, she enumerated.
She listed other achievements of the new council. This includethis years celebration of the International Accountancy Day is Health Walk held at the National Secretariat as well as all the 69 District Societies of ICAN across all States of the Federation including the Federal Capital Territory.
She stressed that council decided to move the essay competition and award of prizes whic usually hold during the Annual Accountants Conference to International Accounting Day.
“We would be giving the prizes to the winners of the essay competition as part of the programmes for this years International Accounting Day. The winners are 1st Position Andrew Kennedy, HND 2, Accountancy Student, The Polytechnic Ibadan., 2nd Position Agumefa Joy, 400 level, Accounting Department, Osun State University, Ire 3rd Position Olanrewaju Fatimah, 400 level, Accounting Department, University of Lagos,” She noted.