ICAN op­poses bill seek­ing to es­tab­lish par­al­lel bodies

The Punch - - CAPITAL MARKET -

The fore­most ac­coun­tancy body in nige­ria, the In­sti­tute of Char­tered Ac­coun­tants of nige­ria, has con­demned in strong terms the pro­posed bill seek­ing to es­tab­lish the Char­tered In­sti­tute of Foren­sic Ac­coun­tants of nige­ria and Char­tered In­sti­tute of Foren­sic and In­ves­tiga­tive Au­di­tors in nige­ria.

The 53rd Pres­i­dent of the in­sti­tute, Is’maila Zakari, spoke at the in­duc­tion of 99 new can­di­dates that qual­i­fied for cer­ti­fi­ca­tion in three of its seven fac­ul­ties.

The three fac­ul­ties are: Au­dit, In­ves­ti­ga­tions and Foren­sic Ac­count­ing; Fi­nan­cial Re­port­ing and In­sol­vency; and Cor­po­rate Re-en­gi­neer­ing.

Ac­cord­ing to Zakari, the move is a threat and an in­ten­tion to bas­tardise the ac­coun­tancy pro­fes­sion, adding that ICAN is po­si­tioned to war against such at­tempt.

he fur­ther ex­plained that he was in­vited by the na­tional Assem­bly re­cently to make a pre­sen­ta­tion on a bill seek­ing to es­tab­lish the Act.

“I led a del­e­ga­tion to the na­tional Assem­bly, par­tic­u­larly to the Sen­ate, to con­demn the bill in strong terms. But just last week, our li­ai­son per­son from the Na­tional Assem­bly no­ti­fied us that the same bill was read in the house of Rep­re­sen­ta­tives,” Zakari said.

The ICAN pres­i­dent said the in­sti­tute’s in­ves­ti­ga­tion had re­vealed that the mo­tive be­hind the pro­posed in­sti­tute was for money mak­ing.

The top ac­coun­tant said al­though the spon­sors of the bill ar­gued that Foren­sic Ac­count­ing was a dif­fer­ent pro­fes­sion, the sub­ject mat­ter had al­ways been part of the ICAN knowl­edge area.

“To­day, 99 can­di­dates passed the rig­or­ous qual­i­fy­ing cour­ses char­ac­ter­is­ing our fac­ulty ex­am­i­na­tion; 47 of them would be ad­mit­ted as Cer­ti­fied Foren­sic Ac­coun­tants of nige­ria to bring the to­tal num­ber of spe­cial­ists in this field to 478,” Zakari stated.

he, how­ever, ad­mon­ished the newly cer­ti­fied mem­bers of the three fac­ul­ties to be pro­fes­sional in their con­duct.

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