The Nation Newspaper

Tag: IFAC

  • ‘ANAN met its obligations to IFAC, APBN’

    The Association of National Accountants of Nigeria (ANAN) in the last one year met its commitments  to the International Federation of Accountants (IFAC) and the Association of Professional Bodies of Nigeria (APBN), its immediate past president,  Shehu Ladan, has said.

    Ladan, who spoke at the association’s 37th Annual General Meeting in Abuja, said the group also fulfilled its obligations to the Pan African Federation of Accountants (PAFA), the Association of Accounting Bodies in West Africa (ABWA), the International Federation for Accounting Education and Research (IAAER) and the Extensible Business Reporting Language (XBRL).

    According to him, these obligations include the payment of membership fees and active participation in their scheduled programmes.

    “We maintained cordial relationship with our partners – the Institute of Certified Public Accountants (CPA) of Ireland, South Africa Institute of Public Accountants (SAIPA) and the Institute of Public Accountants (IPA) Australia,’’ Ladan said.

    He noted that the association  has relocated its secretariat to Abuja. Last year, Ladan recalled, the association started the process of relocating the secretariat as agreed at its April 30, 2004 AGM.

    Ladan said the association sustained its quest for the removal of barriers and discrimination against ANAN members, especially on the placement of ANAN members on Grade Level 10 at the point of entry in the public service and ‘‘at the same time upgrading ANAN members below Grade Level 10 to level 10’’.

    “To achieve this, we visited President Muhammadu Buhari on 12th October, 2018. The issue is on the verge of getting resolved by the National Council on Establishment (NCE),’’ he said.

    Ladan said ANAN signed a Memorandum of Understanding (MoU) with the Chartered Institute of Taxation of Nigeria (CITN) on November 19, last year to afford members the opportunity to practise taxation and hold joint professional training.

    Besides, he said the association sent the names of two members of the association – Dr Al-Mustapha Aliyu and Princess Elemanya Ebila – to the Federal Inland Revenue Service (FIRS) to serve as Tax Appeal Commissioners for Abuja and Lagos.

    To make ANAN branches strong, he explained that a retreat was held in February, last year for the executives of ANAN branches at the Nigerian College of Accountancy, Jos.

    Ladan said ANAN did not relent in fostering its relationship with tertiary institutions as it inaugurated an Accounting Research Centre at Usmanu Danfodiyo University, Sokoto.

    The immediate past president announced that a book on the History of ANAN was being written by a committee headed by Prof. Benjamin Osisioma.

    He added that the NCA study materials (study packs) were revised with support from IFAC and DFID.

    Ladan announced that a new e-MCPD platform had been constructed.

    Also, the ANAN Registrar/Chief Executive Officer, Nuruddeen Abdullahi, noted that the Annual Conference of the association with the theme “ Economic recovery and growth: Issues and options’’, was held  last October in Abuja.

    He said the conference was attended by over 4,000 participants, including top government functionaries, leaders of international and national professional bodies, captains of industry, monarchs, among others.

    The registrar noted that during the year under review, 3,339 members were inducted into ANAN.

    “This reflects an upward increase in admission of members over the previous year. The induction ceremonies were held in Enugu, Edo, Sokoto, Gombe and Lagos states,’’ Abdullahi said.

    He said pre-membership training by the NCA in Jos received a boost.

    “Professional Examination A, B, and Conversion were held in January, March and June. Also, 2,988 candidates sat for the final examination (PEB) in May/June 2018. Of this number, 2,241 representing 75 per cent passed; 504 had reference in one or two subjects while 57 candidates failed.

    “During the period under review there was no case of malpractice and as such, the panel did not have to sit, ‘’ the registrar said. The registrar added that quality assurance  inspection of firms was carried out in 31 firms.

    According to him, some of the firms did not meet quality assurance requirements and were advised to redress their areas of weaknesses in the year.

    “Also inspection of offices of the applicant firms for the issuance of practising licence was carried out during the year. Those that met the required minimum standard for practice office were recommended for practising licence,’’ Abdullahi said.

    He noted that during the year under review, 24 new firms were granted practising licence.

     

  • ANAN to sustain ties with IFAC, PAFA, Edinburg Group

    The immediate Past President of the Association of National Accountants of Nigeria (ANAN), Anthony Nzom, has said the association would partner with the International Federation of Accountants (IFAC), Edinburg Group and Pan-African Federation of Accountants (PAFA).

    Nzom spoke during his Valedictory Speech at the Hand- Over ceremony and 35th annual general meeting of the association on Saturday in Abuja.

    He said the body fulfilled its financial obligation to the foreign bodies and  also participated in their major conferences and workshops. He said that his administration as at the first half achieved physical and infrastructural development at the National Secretariat and the Nigerian College of Accountancy (NCA) Jos.

    Nzom said his administration also upgraded the hitherto Memorandum of Understanding (MoU) with its twining partner, the Institute of Certified Public Accountants in Ireland (CPA Ireland) to Memorandum of Agreement (MRA) with the benefit of reciprocal membership, among others.

    He said that in fulfillment of the infrastructural development of the NCA, a 2,000 capacity State of the Art Auditorium is being constructed among pothers at the college. Nzom said that the project which was nearing completion would have been commissioned but for the economic recession the country was going through.

    He said as part of the association’s policy and quest for staff optimal service delivery, the association nominated members for CPA Ireland training on Professional Conduct and Organisational Management for workers in Lagos.

    The former ANAN boss recalled that two years ago when he took the mantle of leadership of the association, he had accepted the task of sustaining the tempo and dictating the pace of ANAN developmental visions.

    “Indeed it has been a tasking responsibility, demanding the best in intellectual and professional inputs and I am pleased to say today that we have been able to achieve profoundly some of our set goals,’’ Nzom said.

  • IFAC advises ANAN on economic growth

    IFAC advises ANAN on economic growth

    The International Federation of Accountants (IFAC) has said the Association of National Accountants of Nigeria (ANAN) has huge leadership roles to play to enable the country achieve sustainable economic growth.

    The IFAC President, Mrs. Olivia Kirtley, disclosed this in Abuja at a Breakfast Meeting with ANAN President, Anthony Nzom, the Economic and Financial Crimes Commission (EFCC) Chairman,   Ibrahim Magu and other members of the association.

    She said to grow the economy, the roles of accountants are very important, adding that remarkably, Nigeria was named as one of the three countries that produced 75 per cent of accountants in Africa.  Nigeria has a strong base as far as accounting profession is concerned.

    “ANAN should educate politicians and governments at all levels on the need to have stronger professional Accountants. ANAN as an organisation, should be champions in knowing things that work well and those that do not work well for the economy. Accountants need to establish good relationship with government at all levels and the political class to have firm regulation of the profession,’’ Kirtley said.

    According to her, the capability of accountants to provide financial information to companies and government is vital if accountants are to grow the economy. She urged accountants to comply with the international code of ethics and do the right thing with the right information at their disposal if they are to move the economy in the right direction.

    ANAN president attributed the successes recorded by the association to the tremendous assistance from IFAC. “It is the acceptance of ANAN by IFAC that has made us all we are today. I thank you for coming to Nigeria and for visiting ANAN. Our relationship with IFAC will grow for many years,’’ Nzom said.

    He added: “We are delighted they came to Nigeria. Our discussions were based on improving the accounting profession, accountability and transparency that would bring good governance. IFAC said 75 per cent of accountants in Africa are only in three countries inclduing Nigeria.

    This means we have a role to play in developing accounting profession in other African countries.’’

  • ANAN, IFAC partner to promote accountancy

    The President of the association of National Accountants of Nigeria (ANAN) Anthony Nzom has said the association trusts that its relationship with the International Federation of Accountants (IFAC) would bring progress to the accountancy profession.

    He spoke while receiving  officials of IFAC during their visit to the Nigerian College of Accountancy (NCA) in Jos.

    According to the statement, IFAC officials were in the college to address the students and conduct a facility tour of the college. “We sincerely believe that this visit is just the beginning of a mutually-beneficial relationship between our association and IFAC,’’ Nzom said.

    He said the visit by IFAC was indeed a significant one being the first visit after the association’s enlistment as member of IFAC.

    “Moreover, it is a very significant visit because the inspection of our college facilities by this apex global accountancy organisation is pre-emptive of better days ahead for the association.  Since our admission into the membership of IFAC, ANAN has reasoned that the best way to appreciate this achievement is by endeavouring to be a key player in driving the process of growth and development in the Accountancy profession in Nigerian and globally,” he said.

    The ANAN president said the association had undoubtedly created a lot of impact in the Nigerian economy, brought about innovations and notably a pace setter in some areas.

    The Chief Operating Officer of IFAC, Ms Alta Prinsloo urged Accountants to always work harder, saying that there was no substitute for hard work. The IFAC boss urged Accountants to dream big.     “You have a responsibility to be ethical and the desire of the professional  Accountant is to do what is right,’’ she said.

  • ANAN lauded for joining IFAC

    Former President Olusegun Obasanjo has commended the Association of National Accountants of Nigeria (NAN) for attaining full membership of the International Federation of Accountants (IFAC).

    Obasanjo made the remarks while receiving the President of ANAN, Alhaji Sakiruden Labode and some council members at his residence in Abeokuta.

    He described the association as very committed to the accountancy profession, adding that the association was also living up to its responsibility of setting standards in the accountancy profession.

    He commended the efforts of Labode in leading the association to attaining the IFAC membership. The former president said this was an affirmation of approval of ANAN as a professional body by the government.

    Labode said the association would continuously be dedicate din tis quest for quality service delivery by professional Accountants in the country. Also, ANAN donated an Accountancy Research Centre, Linking Accountancy with Business of Developing Economies (LABODE) to the Federal University of Agriculture, Abeokuta (FUNAAB)

    The Vice-Chancellor, Prof. Olusola Oyewole described the research centre as the first of its kind in FUNAAB College of Management Sciences and a significant stride in Accountancy knowledge and development.

    Oyewole urged other multi-national organisations to emulate ANAN. Labode in his address, said the commissioning of the centre was in line with the association’s goal of advancing the Science of Accountancy through skill and knowledge. He said the research centre would expand the frontiers of professional Accountancy in Nigeria and the world.

    ANAN also organised a long service award for 17 of its staff who served between 11and 22 years. Labode commended the staff, saying that the award was the best way of appreciating the staff for their meritorious service so that they could deliver their best.

    He said the staff played a key role in attaining the IFAC membership status. saying that human capacity development was a major asset of an organisation.

    On whistle blowing, the ANAN president said this was a duty to all Nigerians, adding that ANAN members had a duty to the nation and to the profession to show the way so that “you do not get your fingers burnt’’.