By Philemon Adedeji
The Executive Governor of Akwa-Ibom state, Mr. Udom Emmanuel, former regional partner and Chairman KPMG Nigeria Mr. Kunle Elebute and other legal members of Institute of Chartered Accountant of Nigeria (ICAN) have confirmed the participation of Annual Dinner and Awards of its members which is scheduled to take place on Saturday 6th of May 2023 at the Monarch Event Centre Lekki- Epe express way, Lagos.
The event is being held annually to award its members who have been supporting, adding value, performing excellently to the association.
It was gathered that ICAN has performed various functions and powers that are aimed at regulating the accountancy profession in Nigeria which are: to develop and assess the highest quality qualifying examinations for professional Accountants in Africa, and offer specialty credentials through seven specialist faculties for Chartered Accountants who choose to concentrate on specialist accounting profession, to establish standards of professional competence, conduct and ethics for its members.
However, the standards are designed to ensure that ICAN members uphold the highest levels of professionalism, integrity and ethical conduct in the practice of their profession.
According to a report by ICAN, “The institute’s examinations are designed to test the knowledge and skills of candidates in various areas of accountancy, including financial accounting, management accounting, auditing, and taxation.
“We have the power to regulate the practice of accountancy in Nigeria and to discipline its members who violate its rules and regulations.
“The institute has established a code of ethics that sets out the standards of conduct that its members are expected to adhere to, and any member who violates this code of ethics is liable to face disciplinary action.”
Meanwhile, ICAN is a leading global professional body and its mission statement is to produce world-class Chartered Accountants, regulate and continually enhance their ethical standards and technical competence in the public interest.
The professional body also has the power to monitor the performance of its members and to ensure that they are keeping up with the latest developments in the profession.
Reiterating on their offers, there are declarations that various training programs, seminars, and workshops to help its members are adopted to enhance their skills and knowledge and ensure that they remain relevant in a rapidly changing business environment.
Also, ICAN is mandated to promote and regulate the accountancy profession in Nigeria by establishing standards of professional competence, conduct and ethics for its members.
The institute is also responsible for conducting professional examinations for students who want to become chartered accountants, and for ensuring that its members continue to uphold the highest standards of professionalism and ethical conduct throughout their careers.
Recall that ICAN began with 250 members and a history of serving the public interest since 1965, the Institute has become Africa’s largest Professional Accounting Organization representing over 46,000 Chartered Accountants and 23,000 Associate Accounting Technicians who are very talented, ethically committed professionals working in every sphere of the Nigerian economy, combining unrivalled knowledge and skills to support Businesses, Public Sector organizations, Academia, Not-for-Profits, Individuals and Communities to achieve their financial and strategic goals.
ICAN has been a major key player in the growth and development of the accounting profession in Nigeria and has been instrumental in ensuring that the profession is held in high regard both locally and internationally.
In a related development, the institute has also been at the forefront of promoting transparency and accountability in the public and private sectors and has worked tirelessly to ensure that its members are equipped with the necessary skills and knowledge to succeed in a rapidly changing business environment.