By AMAKA ABAYOMI

President of the Institute of Chartered Accountants of Nigeria, Prof. Francis Ojaide, has called on members of the Institute to deliberately join the critical mass to support and sustain the on-going anti-corruption crusade by the government to ensure transparency in all facet of the nation.

Speaking at the 48th Induction Ceremony of new members into the Institute, Ojaide said financial improprieties by persons in position of trust have continued to create under-development, increased suffering of the citizens, unemployment, hunger and anger of the poor and insecurity for all.

“Further to the credibility crisis facing the profession as a result of corporate failures in various jurisdictions, it is imperative that I enjoin you to continue to live above board as recent incidents in our banking sector have again re-echoed the need for transparency in our corporate activities.

“Professionals across a wide spectrum of professions have demonstrated indiscretion in their application of regulatory and ethical standards and within the accountancy profession; there is concern of inconsistencies and failure to comply with accounting and other regulatory requirements.

“As you are aware, it is the prevalence of corruption and sharp practices in low and high places in the nation, which has accounted for the slow pace of development of this richly endowed nation and this is exacerbated by the absence of transparency and accountability.

“As the conscience of the nation, Accounting Professionals must strive to create oasis of sanity in their spheres of influence such that a virtuous society will emerge.”

The ICAN President urged the newly inducted members to always strive to faithfully adhere to the noble ideals of integrity, transparency and accountability, which have influenced the development of the profession globally; as any deviation from this honourable path will demean not only the hard-earned reputation of the Institute but would also bring the global accountancy profession into disrepute.

Over the last 46 years, ICAN’s membership has grown from 250 to 34,344 members following the induction of 1,541 newly admitted members.