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IFRS: ICAN certifies more members

BY PROVIDENCE OBUH

The Institute of Chartered Accountants of Nigeria (ICAN) has certified about 30 members with the International Financial Reporting Standards (IFRS) Certification.

More so, 15 members were certified for the Forensic Accountant of Nigeria and Financial and Information Technology Consultant respectively.

Speaking at the occasion of the Faculties Joint Induction Ceremonies for the 2015 Forensic Accounting; IFRS and Consultancy and Information Technology Certification training programmes, ICAN President, Otunba Olufemi Deru, said that the Faculties were created by the Council in 2001 as part of strategies to address the post-qualification specialisation needs of members in response to market demand.

According to him, “Over the years, the institute has been producing chartered accountants who have diverse competencies in the practice of audit, taxation, insolvency, corporate finance, financial advisory services, secretariat services, public finance, information technology amongst others.

“However, developments in the market place now point to the need for specialists in these various areas of accountancy. The advent of globalisation and the revolution in information technology have significantly altered the traditional mode of accounting processes and by extension, the pace, mode and the service delivery by chartered accountants.

“The challenges imposed on players in the economy by these complex changes have invariably increased the premium placed on the skills and competences of chartered accountants resulting in the expansion of their responsibilities beyond the traditional attestation functions.

“It was in response to these dynamics, the resulting market preference for specialists and the need for post-qualification by members that about seven faculties were created by the Council,” he said.

Deru charged the inductees to continue to fly the profession’s flag of honesty, integrity and excellence with distinction in their respective spheres of influence, no matter the odds.

“This noble Institute, in my view, has pioneered various initiatives and made remarkable progress in various fields both locally and internationally by leveraging on the expertise and ingenuity of its members.

“Therefore, except you continue to demonstrate these great ideals and thrive on the virtues of your profession through exemplary conduct, we cannot legitimately claim to be the conscience of the nation,” he said.

In his remark, Chairman, Board of Audit, Investigation and Forensic Accounting Faculty, Mr. Francis Medessou, said that there is a need for more accountants due to the rise in economic and financial crimes in the nation.

“There is a need for more chartered accountants especially those trained as forensic accountants with skills to investigate financial crime and produce reliable and credible reports with which they will report the evidence that will facilitate judicial decisions on matters of fraud and financial and economic crimes.”


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