No Need for National Assembly Bills Seeking Autonomy & Charter for various aspects of the Accountancy Profession – 55th ICAN President

When the 55th ICAN President Mazi Nnamdi Okwuadigbo, FCA, took the reins of leadership on June 3rd 2019, he announced his intention to take the Institute to new height by tackling the challenges facing chartered accountants in the country. 

In accordance with the above objective, the 55th ICAN President recently paid a courtesy visit to the management of KPMG Professional Services in Lagos, where he reiterated his resolve to focus on these challenges to reinvent the profession during his tenor as ICAN President. 

Some of these challenges include stiff competition and the recurring attempts to balkanize the profession, as well as others, that constantly give the Institute’s leadership the impetus to keep striving to renew the profession. 

Fully aware of these, the 55th President expressed his determination to enhance the understanding of accounting and auditing conventions in order to make the profession stand out more than ever before. 

While the President recognizes that chartered accountants face stiff competition at home and abroad, he insists that ICAN under his leadership would ensure that such competitions do not water down the high standards set by the institute. 

He said there was no need for Bills to be presented at the National Assembly seeking autonomy and Charter for various aspects of the accountancy profession since those aspects were part and parcel of accounting already covered by the ICAN Act. 

Also included in the steps that would be taken to enhance accounting practice in Nigeria is improved professional development for ICAN members in order to make them remain relevant and contribute more to the development of the profession, corporate organizations and the various tiers of government.