… Partners with ISAN on financial knowledge
By Prince Okafor
As part of its aim geared towards eliminating unethical issues in corporate organization, Deloitte has provided a platform to secure whistleblower in the country.
Speaking during a Breakfast Seminar of the Akintola Williams Deloitte in Lagos, Associate Director, Deloitte, Mr. Beulah Adeoye, said: “When you see something you should say something, and when you say something, nobody should come and retaliate with you, so you need to use a secure and reliable platform.
“The whistleblowing is just one element of the control environment within an organization, to ensure a more ethical culture.”
He urged whistleblower to log into Deloitte website and fill the form there, adding, “We have a mobile application which you can download on Google app or IOS and then you can make a report.
“One of the key things for us is that, within 24 hours, you can also contact us through our channels, a unique reference number is given to you, and we have trained professionals that will take your calls or handle your concern.”
He further stated that the reason is that, most organisation are concerned about spurious allegation.
“We usually ask for the date, time as well as what you have to substantiate your allegation, because we don’t want to waste the time of the organization, running in every direction, you want them to handle real concerns and deal with those unethical issues in the organization.
“We also give feedback and action that are taken, which within 24 hours, we must provide that information to the organization in a certain format that they have agreed with us. Then investigation will be carried out, and a feedback will be given to the whistleblower through our channel,” he added.
Meanwhile, Independent Shareholders Association of Nigeria, ISAN, Founder and National Coordinator Emeritus, ISAN, Mr. Sunny Nwosu, noted that, “For us, the capital market is our life and every other thing we know is the capital market. We are expanding our knowledge on financial reporting, so as to know how to study annual report and the rest.”
He also said that, “I would say that Capital market is now moving from what a former Governor of Central Bank of Nigeria once referred to as ‘Kalo Kalo’ market to a knowledge-based and well-streamlined institution.”
“We shareholders are also moving from unnecessary gangsters and confrontational behaviours to a knowledge based analysis of corporate activities while engaging the managers of our companies.
“I strongly believe our members will be better protected this way and we shareholders will have become partners in progress with the companies where we have interest.”
He explained that, “ISAN is a pressure group established to ensure that people get value for their investment, knowing fully well that only the retail shareholders attends AGM in most case, the major shareholders don’t attend Annual General Meeting, AGM, because they have another means of discoursing with the managers of the business.
Commenting on the state of financial knowledge in the country, he said that, financial knowledge and financial presentation in Nigeria is a process, adding: “It has a beginning but has no end, because you see there are policies coming in from time to time to further broad in the knowledge and disclosure expected of an investment.
“Even the regulators are only trying to see whether they can get financial reporting in the best form while the shareholders and shareholders pressure groups are looking at loopholes that come with such ideas and trying to close this, also means working together to highlight areas that we can get a better improvement to sustain investment climate in our country.