*President Muhammadu Buhari says professionals are livewire of economy, and appreciates the contributions of the Institute of Chartered Accountants of Nigeria in ensuring probity, accountability and transparency

Isola Moses | 绿帽献妻

Chattered accountants, under the aegis of the Institute of Chartered Accountants of Nigeria (ICAN), have said that the illegal activities of financiers of terrorism in the country could be traced through the application of the principles of forensic accounting.

The ICAN leadership, during a courtesy visit Friday to President Muhammadu Buhari at the State House, Abuja, FCT, told the President that the institute was ready to avail the country of its technical competences in forensic audit and working with security agencies to expose the perpetrators of the illegal business.

 

Mrs. Comfort Olu Eyitayo, President of ICAN, who spoke on behalf of the Institute, emphasised that forensic accounting and working with security outfits could be used to reduce the security challenges facing the country by tracking all monies used in committing crimes and payments, Channels TV report said.

Eyitayo said: 鈥淲e are worried with the nefarious activities of some bad elements in the society who engage in the dastardly acts of terrorism, banditry, kidnapping and听 killings for ritual purposes, among many others.

鈥淔ighting terrorism is a big challenge across the world and we commend the efforts being made to stem this tide in our country.鈥�

The ICAN Chief also stated: 鈥淎s chattered accountants, we acknowledge our role in combating terrorism by the application of the principles of forensic accounting and following the money to fish out the perpetrators of these illegal activities.

鈥淪ir, we would continue to avail the country of our technical competences in forensic audit and working with other security agencies to expose these enemies of progress.鈥�

The ICAN President disclosed that the institute has signed a Memorandum of Understanding (MoU) with the Nigerian Police Academy on forensic investigations and auditing aimed at contributing to the national desire for a prosperous economy.

Eyitayo said the institute has established seven faculties to train accountants in specialised fields, which include forensic accounting, adding that: 鈥淚t is noteworthy that the institute had signed an MoU with the Nigerian Police Academy on forensic investigations and auditing.鈥�

Eyitayo further appreciated President Buhari and his administration in adhering to best accounting principles and practices to secure and revive the economy, particularly reverting to the January to December budget calendar.

Eyitayo, however, said ICAN was taken aback by a memo that emanated from the Head of Civil Service of the Federation stating that professional certificates would no longer be used as qualification for entry level into the nation鈥檚 civil service.

According to her, 鈥淭his, to say the least, is a most unfortunate development, because encouraging professionalism across all levels of government would give traction to the quality of service delivered by our civil servants.

鈥淲e appeal to you (Buhari) sir to use your esteemed office to analyse the merits and demerits of this decision and direct that it should be retraced.鈥�

Welcoming the delegation, President Buhari declared that professionals in various fields, especially accounting, provide the strength and framework for thriving economies, assuring them that his administration will continue to engage experts to gain measurable and reliable results.

The President noted the contributions of the institute in ensuring probity, accountability and transparency, urging more diligence and professionalism.

鈥淗aving served as a military head of state, and returned to politics to serve as a president, after losing three elections, I have seen the system of accountability in the country, and the mess to be cleaned up,鈥� said Buhari.

Buhari described ICAN as a 鈥渟ocial stabilizer鈥� of the economy, adding, he would go through reports and recommendations of the institute on inclusivity and strengthening the country鈥檚 accounting system for growth.

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