The Institute of Chartered Accountants of Nigeria (ICAN), yesterday, warned its 802 newly conferred fellows against compromising best practices and transparency in the management of public finance.

Its 59th President, Dr. Innocent Okwuosa, gave the warning at the 22nd Conferment of Fellowship Status Ceremony in Lagos.

Okwuosa explained that the conferment mandates the new fellows to maintain the motto of the institute, which is accuracy and integrity, adding that they must not be found wanting in all engagements. He encouraged them to continue to maintain the brand as the foremost accounting body in Africa.

According to him, accountability and transparency should be their watchword wherever they work, adding that they are also expected to make big impacts in Nigeria’s economy and the accounting profession.

“The new fellows were properly screened having undergone a rigorous process before they were picked for the fellowship conferment. They have been in the good book of ICAN and don’t have any form of disciplinary action against them,” he said.

In his remarks, the special guest of honour at the event, Mr. Chidi Ajaegbu, said chartered accountants must comply with relevant laws and regulations and avoid conducts that bring down the integrity of the profession.

According to him, objectivity, confidentiality and protection of public interest must remain the core of the profession.

He said:”Practitioners must adhere to principles of responsible behaviour in all their undertakings; must strive to always do the right things and avoid frauds; expose corruption especially fraud in public procurement and expose ghost workers syndrome in public service. We must also build on the foundation of integrity in all dealings.”

He charged the institute to strengthen the processes of its examination and embrace more technology.

Earlier, the Chairman, Fellowship Sub-Committee, Mr. Oluwatobi Abiola, said the fellowship status is the highest attainment in the profession and connotes that the members have been found worthy in upholding ethical values and global best practices.

He advised them to be role models to younger professionals, saying the public looks forward to them for advice and encouragement in areas of public finance management.