Saturday, November 10, 2018 12: 02AM / OpEd By Razak A. Jaiyeola / Image Credits: ACCA
On behalf of the Governing Council of the Institute of Chartered Accountants of Nigeria (ICAN), I wish to join the International Federation of Accountants (IFAC) to congratulate accountants across the globe and ICAN members on the occasion of the 2018 International Accountants’ Day.
Chartered accountants have been major players in the economic value chains of nations and our roles are so pivotal that we have been aptly described as the conscience of society.
ICAN members have not only lived up to this expectation but have most times surpassed it in their various capacities. Our members’ professional and ethical footprints remain indelible across different sectors of the economy – both public and private.
Since its inception in 1972, this annual event is celebrated globally to give recognition to accountants who are saddled with highly demanding jobs. In many countries, it is an event to honour accountants for managing finances, devising and implementing economic, business and financial strategies thereby making organisations healthy.
It is also in recognition of accountants’ key role in enhancing public trust through high quality financial reporting. As an Institute, we have stayed true to this annual tradition of acknowledging the laudable achievements of our members and projecting them to the world as key players in the country’s growth and development agenda.
Amidst international and local challenging operating environments, our members continue to espouse the motto of the Institute – Accuracy and Integrity. We are proud of the over 45,000 members, most of whom are occupying strategic positions in the country. ICAN members’ contributions to both social and economic debates and decisions are widely acknowledged. They continue to lend their voices and professional expertise to political, social, environmental and economic discourses as well as to governance and sustainable development. They bring their professional experience to bear in politics, corporate entities, civil service, multinationals and academics.
As a founding member of the International Federation of Accountants (IFAC), we play important part in the activities of the Federation. Members of the Institute are not only represented on the Council of IFAC but ICAN has established itself as a force to reckon with in the Pan African Federation of Accountants (PAFA) and the Association of Accountancy Bodies in West Africa (ABWA). We continue to mentor many Professional Accounting Organizations (PAOs) across the African continent.
ICAN was formidably represented at the just concluded 24th World Congress of Accountants (WCOA) in Sydney, Australia with the theme Global Challenges, Global Leaders. The enriching contributions of the Institute’s members at the global congress no doubt added to the success of the programme.
The Institute, through the support of members, is alive to its responsibility at developing and supporting various initiatives aimed at creating robust economic and financial systems in the country. We founded and nurtured the accounting standards, established Nigerian Accounting Standards Board (NASB) now Financial Reporting Council of Nigeria (FRC), a major regulator in financial reporting and Corporate Governance.
The ICAN Accountability Index (ICAN AI), amongst several other developments, has been applauded by various stakeholders as a veritable initiative for assessing public finance management and public governance practices across the three tiers of the Nigerian public sector including the Federal, State and Local Governments.
A socially responsible body, ICAN continues to support government in capacity building, especially for budding accountants. Our Corporate Social Responsibility (CSR) activities include a
N50 million accounting tuition house support fund; doctoral student grant for accounting research foundation; building of lecture theatres in universities in Nigeria and; student special project initiative to expand reach to educationally disadvantaged states.
We are committed to supporting all our members in their quest to remain cutting edge and competitive in the profession. We achieve this through regular revision and update of our various training programmes. This is a safeguard for members to keep pace with the highly dynamic business environment and leverage technology to significantly improve their service deliveries.
Once again, I congratulate the over three million chartered accountants worldwide on this momentous occasion of the 2018 International Accountants’ Day.
Long live The Institute of Chartered Accountants of Nigeria.
Long live the International Federation of Accountants.
Long live the Federal Republic of Nigeria.
Alhaji Razak A. Jaiyeola, BSc. ACFE, CRISC, FCA
Governing Council of the Institute of Chartered Accountants of Nigeria (ICAN)
November 10, 2018