An Address - The Institute of Chartered Accountants of Nigeria

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invited as the Chief Host of the event. The theme of the well attended and very successfullecture was “Accounting & Accountability in the Oil and Financial Sectors.Visits to State Governors28. During the period under review, I paid courtesy visits to the Executive Governors ofOgun, Osun, Ekiti and Enugu States to solicit for the employment of more charteredaccountants in their various State Civil Services. The Executive Governors commendedmembers of the Institute in the employ of their states and they promised to engage more. Iwas assured by the State Governments that more members would be sponsored to benefitfrom capacity building programmes organised by the Institute. They also expressed theirreadiness to partner with the Institute in areas that would be of immense benefit to bothparties and the society at large.COURTESY CALL BY THE EXECUTIVE MANAGEMENT OF SIAO FIRM OFCHARTERED ACCOUNTANTS29. The firm of SIAO led by its Managing Partner, Pastor Ituah Ighodalo, FCA, paid acourtesy call on me on Friday, August 23, 2012 at the Secretariat, Victoria Island, Lagos.Stating the reasons for the visit, Pastor Ighodalo informed me of the full support of thefirm for the Institute and suggested that the Institute:• Drive the accounting profession more aggressively• Grow the local accounting firms and build a broader base of capable accountingfirms• Employ more chartered accountants and encourage employers of labour as per theadvantages of employing them.• Encourage government to be more strict about auditing, make stronger legislationfor tax and better appreciate the accounting profession• Pressure all levels of government to give local accounting firms more respect andencouragement and end discrimination against them• Help to create a free, unbiased competitive environment for local firms and thusminimise sharp practices caused by fear of being edged out of getting jobs16
• Should play a bigger role in the nation’s economy by reviewing the budget,commenting more on national issues and supporting the government in every waypossible.In my response, I assured the firm that the Institute was mindful of the issues raised andapprised them of the steps being taken by ICAN, IFAC and the World Bank to addressthese issues such as mentoring of small firms, sponsoring the Whistle Blowers’ bill,quality control/peer review and programmes designed to improve the technicalknowledge of members, amongst others. I thank them for their unsolicited suggestionswhich were borne out of their love for the Institute and profession.DEFENCE OF THE ICAN ACTICAN Vs. CITN Case30. The appeal instituted against the judgment entered in favour of CITN by the Lagos HighCourt is still subsisting at the Court of Appeal. The Council has no intention whatsoever todiscontinue the case. We are informed that the Court of Appeal will deliver its judgementon February 18, 2013.However, the ECC received in audience a delegation of the Body of Past Presidents ofthe Association of Professional Body of Nigeria on Wednesday, January 16, 2013. Theirmission was to seek an out of court settlement between ICAN and CITN. While we werenot averse to settlement, we laid our cards on the table: chartered accountants mustcontinue to practice taxation without becoming members of CITN; Chartered accountantswill not write examinations to become members of CITN if they choose to join the body.They promised to engage the leadership of CITN to reach an amicable resolution of theavoidable impasse. Although they requested for a joint meeting of ICAN/CITN/APBN toresolve the issues before February 18, 2013 when the Appeal Court is expected to give itsjudgement, we were non-committal on date of meeting.31. Review of the ICAN ActNo positive development had occurred in the last eight months on the draft bill on mainICAN Act which is currently before the National Assembly. We are currently making17
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An Address - The Institute of Chartered Accountants of Nigeria

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