THE Chartered Institute
of Forensic and Investigative Auditors of Nigeria (CIFIA), has berated the
Institute Chartered Accountants of Nigeria (ICAN) for casting aspersions on the
passages of Forensic and Investigative Auditors of Nigeria (FIAN) bill,
alleging that ICAN conduct negates national interest, reports ITRealms.
Reacting to ICAN
criticisms, Protem President of CIFIA, Mrs Victoria Enape, described the move
as unfortunate development, arguing that the publications of the press
briefings granted by ICAN boss was to malign reputations of some persons and
discredit the institute.
ITRealms recalls that the FIAN Bill was
jointly sponsored by the Senate Majority Leader, Senator Ahmed Lawan from Yobe
North and Senator Andy Uba from Anambra State.
ICAN, ITRealms reports, had during a press
briefing on July 13 agitated that establishing CIFIA as an institute
through an Act would amount to duplication of duties, positing the institute is
already carrying out the functions meant for Accountants.
In a rejoinder made
available to ITRealms in Abuja, Enape
said the claims were baseless, wondering why Nigeria is still relying
heavily on expatriate forensic and investigative auditors if the claims
were true.
She explained
that the bill is aimed at addressing shortcomings in the war against
corruption with regards to forensic auditors’ examinations, stressing that the
whole world had gone digital and now fraudsters engage digital technologies in
perpetrating fraud which has made traditional auditing inadequate.
"Our attention was
drawn to the press briefing, which was carried out by the Institute of
Chartered Accountants of Nigeria (ICAN) on Friday 13th July, 2018 on the
passage of the Chartered Institute of Forensic and Investigative Auditors of
Nigeria Bill by the Senate of the Federal Republic of Nigeria, on 5th July,
2018.
"Ordinarily, we would
have ignored the baseless issues raised in the press briefings but for the sake
of the public who are being misled by this unfortunate development and
posterity, we are inclined to offer some clarifications so that the whole world
would discern between the truth and a deliberate effort to thwart the noble
course that is beyond an individual or personal and parochial interests,"
she said.
She stated categorically
that ICAN issuing forensic accounting certificate amounts to illegality because
there is no forensic in the Act establishing ICAN Act.
Enape further stressed
that the insinuation in some quarters that the proposed CIFIA would bring some
financial burden on the public funds is untrue because the institute is
self-sustaining.
She noted, “ICAN is the
oldest professional body in Nigeria, so it is expected that it should be
behaving like a spoilt brat that is opposed to any idea of new child by his
parents.
"ICAN has acquired
the reputation of opposing every professional body in Nigeria that has to do
with financial management in Nigeria. ICAN opposed the creation of ANAN, CLTN,
and several others, losing all legal battles.
"So, we must
discountenance the antics of ICAN and support the bill, because of its noble
objectives and potential impact.”
She explained that CIFIA
would save Nigerian government the cost of inviting foreign forensic auditors
for fraud investigation as it were.
CIFIA boss said to some
large extent it takes only Nigerian forensic auditors who know the terrain to
be able to track or investigate fraud successfully in Nigeria, saying that it
is therefore important to patronise made in Nigeria to grow Nigeria.
“One major advantage
that this body would bring to our anti-corruption fight and crusade is that, it
will not only partner with relevant government agencies, but will also help to
train their agents and staff through to certification on the use of science and
technology of forensic and investigative audit skills for auditing of financial
statement and put in place some advanced mechanisms to prevent frauds in their
various organisations to avoid reacting to fraud issues after such had taken
place which has not yield results in our country over the years," said.
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