ICAN’s New President Promises Partnership With Government
Institute of Chartered Accountants of Nigeria (ICAN), on Tuesday, inaugurated Mrs Onome Joy Adewuyi as the 56th President and other officers.
In her acceptance speech and inaugural address, Mrs Adewuyi promised to partner with the government to redefine national values, economic priorities and resource utilization strategies such that the mass of the citizenry can be lifted out of avoidable poverty.
According to her, ICAN would leverage its professional expertise to support players in the informal sector, whose unsung value-creating activities will define the position of the nation on the ladder of sustainable development.
She lamented the paradox of poverty in the midst of plenty being experienced by Nigeria, adding that the nation is at a point in its economic development where all hands must be on deck to address the ugly situation.
“According to the 2019 World Bank Human Development Report, 53.5% of Nigerians live below poverty line of US$1.9 a day. I am inclined, like many analysts, to believe that the situation is even worse considering the high rate of crime and criminality all over the country.
“The situation is better imagined if we take cognizance of the possible effect of COVID-19 in the near term,” she stated.
On refocusing ICAN capacity building initiatives, Mrs Adewuyi explained that this Presidential year, the Institute would formalise its online training and incorporate them into the annual training brochure.
She added that the Members’ Education and Training would be bolstered with cut-edge virtual training programmes.
“These would run together with the established traditional model of delivering trainings. Also, the ICAN faculties would be equipped to become centres of excellence for virtual training in the seven specialist areas of Accounting,” she expatiated.
Speaking further, the ICAN President said the lesson of the COVID-19 pandemic has challenged ICAN to redefine the values it shares, the way it relates and account for its actions and inactions.
“Evidently, the proactive deployment and proficiency in the use of technology will continue to define corporate and individual success.
Furthermore, Mrs Adewuyi explained that with the drastic changing dynamics in the market, ICAN would expand its collaborative horizons to bring on board non-traditional partners, especially the Tech companies that would work with the Institute on the gradual incorporation of emerging technologies, such as Machine Learning, Data Analytics, Robotics and Artificial Intelligence.
She assured that as the Institute would strive to hold leaders at all levels accountable, it would also enforce compliance to the professional code of ethics and sanction all proven cases of misdemeanour by members without fear or favour.
She posited that the task of nation-building is a collective responsibility, adding that ICAN as a critical stakeholder could not continue to watch askance for the nation to be going down the hilltop through formulation and implementation of strategic policies.
She also disclosed that ICAN would make efforts to take its Accounting Technician Scheme West Africa (ATSWA) examinations to other African countries which need the middle-level Accountancy support.
She added that ICAN would maintain excellent working relationships with regulatory authorities like Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Company (NDIC), Securities Exchange Commission (SEC), the Nigerian Stock Exchange (NSE), Corporate Affairs Commission (CAC), Federal Inland Revenue Service (FIRS), Nigerian Extractive Industries Transparency International (NEITI), National Insurance Commission of Nigeria (NAICOM) and the National Pension Commission (PENCOM).
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