The President of the Institute of Chartered Accountants of Nigeria (ICAN), Maj.- Gen. Sebastian Owuama (rtd) has said that the institute would initiative actions to make professional accountants respond better to high public expectations.

Owuama told newsmen in Lagos that the decision was informed by some accusing fingers being pointed at accountants in the wake of the financial crisis in Nigeria. “Also, there is rethinking as stakeholders are no longer satisfied with accounting reports,”” he said.

He said that such initiatives would permit procurement of more facilities for training of professional accountants.
“The institute will establish training centres with close proximity to accounting professionals because it has seen traffic situations in some states as a major hindrance,’’” he said. The ICAN president said that the institute would also strengthen its district societies (branches) for greater efficiency. The district societies in the country are now 50 with other two district societies operating outside the country,” he noted.

Owuama said that the institute had released N1.5 million to its Ikeja District for the expansion of its training centres. He added that ICAN leadership had started seeking rebates from airlines, manufacturing companies and supermarkets for professional accountants working with them.

“With the recent growth in the profession, this type of facility is needed to help members to purchase products and services cheaper, wherever they are practicing, whether inside or outside the country. Owuama said that ICAN was committed to introducing incentives that would make professional accountants satisfied and more useful to the Nigeria economy.