ICAN brainstorms on accountability, good governance at conference

To proffer solutions to the current economic recession and lack of accountability in the nation’s financial system, the Institute of Chartered Accountants of Nigeria (ICAN), has assembled a team of technocrats, professionals and key government functionaries to discuss the current economic condition of Nigeria.

The platform for this discussion is the 46th yearly Accountants’ Conference of the Institute with the theme “Accountability.Now.Nigeria” which holds in Abuja, from Monday, October 10 to Friday, October 14, 2016.

A statement from ICAN in Lagos, said President Muhammadu Buhari is expected to declare the conference open while the President of the International Federation of Accountants (IFAC), Ms Olivia Kirtley, will deliver the lead paper entitled: “Accountability and Good Governance”.

It added that “The theme of the Conference, which is the global accountability campaign of IFAC, titled: “Accountability.Now.” is an initiative to encourage higher standards of public sector information around the world. It challenges governments to recognise the importance of working toward financial reporting that meets international standards known as the International Public Sector Accounting Standards (IPSAS)

“ICAN therefore, seeks to encourage the Nigerian government in the spirit of change, to imbibe the culture of good financial reporting in government spending and public sector financial reporting.”

It further said that the Institute would work with the government to achieve the following initiatives of the “Accountability. Now” campaign in Nigeria: Build a global coalition to bring together organizations that support the objective of improving transparency and accountability in the public sectoL, raise awareness through reinforcing the benefits of sound financial reporting to governments on the need for change; develop partnerships to effect change and bring together key actors in the public sector to improve financial information in the public sector.