By Henry Uche
With the glaring harsh economic environment tearing many apart, the Institute of Chartered Accountants Of Nigeria (ICAN) is calling on the federal government of Nigeria as well as state governments to seek the professional advice of Chartered Accountants in every policy decision, programs and plans it designs for Nigerians.
At the 15th (crystal) anniversary of the Institute (Amuwo & District Society) and Members’ forum- Lagos, the accountant General of Lagos state, Biodun Muritala, represented by the immediate past president of the district, Mrs. Comfort Olujumoke Eyitayo, who made this known said the services of accountants in economic growth and development remains indispensable.
According to him, not a few organizations are winding down because they had no professional advice, while others who knew this fact, shy away from the truth, noting that the economy is seriously in deep trouble because people are not doing the right thing.
“The computer cannot do everything. The services of accountants are needed to analyse those figures computer are churning out. Yes ICT is very good, but it the accountant that uses the history and present situation of the company to forecast the future. But the ultimate thing is the operating environment. The government should as a matter of responsibility make the environment conducive for businesses to thrive,” he maintained.
Similarly, the incumbent chairman of Amuwo & District Society of ICAN, Mrs. Veronica Kechi Odi, sue for integrity as the currency to get to any height in life.
According to her, Nigeria is in a sorry state because many people especially those in public space lack the virtue (integrity) this is evident in incessant malfeasances recorded in recent time.
Odi called for a smooth transition to a new government as Nigerians go to the pool in 2023. While urging Nigerians to vote wisely, she charged perspective accountants and Chartered Accountants in- the -making to imbibe the positive mindset in all their endeavour, saying that, ICAN can loosely mean (I can…). “If you believe you can then definitely you can. ICAN, we can say means, ‘I can’ which is a proof of progressive mindset, she maintained.
On his part, the keynote speaker, Iheanyi Anyaghara who was represented by a senior manager from the Financial Reporting Council of Nigeria, called on every stakeholder in the financial system to synergise to improve credible financial reporting both in the private and public sector.
According to him, both the regulator, the Professional accountants, the auditors, even the investors should all join forces from their respective areas of operation to make financial reporting more credible, transparent and reliable.
*To attract Foreign Directs Investments (FDI), the regulator must ensure that it does its work unbiasedly and independent from any form of influence. The professional accountants must do their job within the stated standards and in line with its code of corporate governance, ethics and principles, while the auditors do theirs bearing in mind the rules and regulations of the profession without fear nor favour of any kind whatsoever. This is imperative because investors want to see financial statements that would encourage them to bank roll projects and make other investment decisions in the country, but if our financial reporting system is compromised or corrupt, they have no option than to move to saner countries where law and order are kept,” he affirmed.