By PROVIDENCE OBUH

The Institute of Chartered Accountants of Nigeria (ICAN) has called on its new members to uphold the virtues of integrity in t he discharge of their duties.

President of the Institute, Mr. Adedoyin Owolabi made the call while giving his admission address during the 34th Association of Accounting Technicians (AAT) induction ceremony in Lagos, saying, “let me emphasise that you must make the motto of the institute which is “Accuracy and Integrity” your guiding principle.”

Owolabi added “as Accounting Technicians, you must strive to perform your duties in accordance with acceptable technical standards irrespective of the sector of the economy in which you are employed. The Accounting Technician is trained to function effectively in both the public and private sectors of the economy.

“You must not tamper with your employer’s money, temporarily borrow them or use the cash entrusted to your care to settle claims due to you from employers no matter how legitimate.

“Only by observing these norms will you be able to contribute to the sustenance of the leadership role of chartered accountants in corporate governance both in the public and the private sectors of our nation.

“The competency you exhibit will convince the public and the organization you serve, that you are truly a professional in your own right. Accordingly, you must continuously strive to add value to your employer.”

He said that disciplinary procedures are now in place for both the old and new members of the AAT.

To this end, he said, “Let me at this juncture inform you and all the other older members of the Association present here today that the council of our Institute has constituted the AAT Investigation committee and its disciplinary Tribunal to investigate and try allegations against AAT members. The Tribunal passes judgment on the matters, and where members are found guilty, applies relevant sanctions.

“It therefore pays you to continue to toe the path of honour by observing religiously all the rules contained in the Association’s code of ethics, constitution and by-laws.

On professional challenge, he said, “you should also know that with the rapid changes in the business environment and the trend towards the globalization of the profession, the need for you to constantly update your skills cannot be overemphasized.

“It is my hope that you will continuously strive to update your skills through on-the-job and off-the-job training programmes.”

In his keynote address, titled, ‘International Financial Reporting Standard (IFRS),’ a member of the Institute, Mr. Emmanuel Adeniji advised the inductees to key into the International Financial Reporting Standards (IFRS) as compliance companies now seek for graduates with IFRS certificates.

Ade said “IFRS is the convergence of principles based on standards and interpretations that are expected to bring about uniformity in proportion and auditing of companies, this is expected to have significant impact on the firm’s financial position and financial performances.”