Update On The Forensic Investigative Auditor Of Nigeria Bill

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Saturday, April 13, 2019  / 10:46AM / By Proshare News / Header Image Credit: SlideShare

 

The Chartered Institute of Forensic and Investigative Auditors of Nigeria got a listing and debate on Thursday, April 11, 2019. It was listed as the ninth and last order for the day.

 

Justification and counter arguments were moved and at the end of the day’s session, the Speaker of the House adjourned debate till next Tuesday, April 16, 2019 for real consultations to be carried out for continuation in the House.

 

Record of Proceedings

 

The following took place at Thursday’s Plenary in respect of “Bill for an Act to establish the Chartered Institute of Forensic and Investigative Auditors of Nigeria”.

 

Deputy House Leader

  • Requested that the Bill be read the Second time

 

Speaker. Hon. Yakubu Dogara

  • Opened the debate

 

Deputy House Leader

  • The Bill seeks to leverage on Information Technology in addressing the multitudes of corruption cases in the Country.

 

Hon. Uzoma Nkem Abonta

  • Appealed to the House for their support in passing the Bill as it will help in fraud detection and investigation that other professional bodies failed to do citing examples with failed banks, which collapsed due to lapses on the part of professionals saddled with these responsibilities.
  • Bill was passed since July 2018 by Senate after a public hearing attended by the public and professional bodies.
  • Wondered why it has not been passed by the House.
  • This is the modern way of fighting corruption and that any member who is support of fighting corruption should also support the Bill for passage
  • Hon. Kayode Oladele
  • ICAN, ANAN and other Professional bodies were at the public hearing and most of the professional bodies were in support of the Bill except ICAN
  • The Bill does not seek to take up ICAN and ANAN functions
  • Forensic is the new trend of curtailing cyber crime
  • Therefore, he supported the passage of the Bill

 

Hon. Ossai N. Ossai

  • Bill is in public interest
  • Misappropriation of assets will be checked
  • Therefore, Bill is supported for passage

 

Deputy Chief Whip – Hon. Pally Iriase, FCA

  • Bill condemned in its entirety because it balkanizes the accountancy profession
  • It is not about ICAN but posterity
  • The profession should not be fragmented
  • Bill is not supported for passage and should be thrown out

 

Hon. Dennis N. Agbo, FCA

  • Global best practices do not support people who had not studied a field to specialise
  • The President seek to be a life President in the Act should not be acceptable
  • Bill not supported for passage

 

The Chairman Rules and Business, Hon. Edward Gyang Pwajok

  • ICAN should not be against the Bill
  • If passed it will create job for Nigerians
  • Foreign exchange will be saved
  • Canada, America and India has similar Institute
  • He therefore support the passage of the Bill

 

The Speaker, Rt .Hon. Yakubu Dogara

  • 3 members were given the assignment to verify the claim that Canada, America and India have similar Institute.
  • Debate adjourned till Tuesday 16th April, 2019 for continuation. 

 

 

The Case By ICAN Against The Bill

ICAN Objects To Three Bills For A Chartered Institute of Forensic and Investigative Auditors of Nigeria

 

 

Reference Material

·         Chartered Institute of Forensic and Investigative Auditors of Nigeria – NASS doc

·         Institute of Certified Forensic Accountants | Welcome to Forensic Global

 

 

Proshare Nigeria Pvt. Ltd.

 

 

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