The Institute of Chartered Accountants of Nigeria (ICAN) Abuja & District Society has expressed her readiness to tackle the menace of quacks in the profession through monitoring and addressing issues peculiar to members in practice.
The District’s Chairman, Alhaji Balogun Abdulrasheed, PhD, FCA, gave the assurance at the inaugural “Partners’ Breakfast Roundtable”, organised by the Professional Practice Forum (PPF) of ICAN Abuja & District Society last Saturday.
Abdulrasheed said that the district was fully ready and committed to tackling quackery in the profession and other issues that are peculiar to practitioners, saying the forum was the first of its kind in the history of ICAN.
He noted that PPF was set up by the Executive Committee of ICAN Abuja & District Society in March 2021, and its executive committee inaugurated on April 29, 2021, to pilot the forum’s affairs.
He therefore solicited for the support of members in practice to ensure that the forum achieved its desired goals and be sustained.
“Today, we are working assiduously to ensure that the forum achieved the desired results and urge other districts to join us” he said.
Speaking on the journey so far, the Forum’s Chairman, Mr Abel Agbo Onyeke, FCA, said the PPF was formed to complement the activities of the Institute’s Professional Practice Committee and Department in monitoring members in practice in Abuja, and to provide a platform for practitioners in the district to tackle challenges such as a rapidly changing business and regulatory environment, technological disruptions, competition, and other issues threatening their businesses.
He noted that the partners’ breakfast roundtable, which would be held quarterly, would provide an opportunity for members to meet, interact and deal with these issues.
He stressed that the forum remained committed to five key areas: sensitization and mobilization, organization development, capacity building, partnership & networking, and regulatory compliance.
”The forum today has over 100 firms that employ over 2000 personnel and we believe that more than a quarter of these numbers are still outside, and we shall spare no efforts until everyone is in the fold” He disclosed that the forum has visited over 50 firms this year alone and assured that the Executive Committee under his leadership was determined to visit all the firms in the district.
He further held that the forum “will work with the district to liaise and engage with Departments and Agencies of Government such as FIRS, CAC and other regulators in charge of professional practices” Other activities lined up include” supporting firms to structure, adapt, and respond effectively to industry and technological changes” and helping practitioners to develop and strengthen their skills, abilities, processes, and resources needed to succeed and thrive. Mr Onyeke concluded by appealing to all members to be actively engaged in the activities of the forum, saying that no firm should think that it is “too small to matter or too big to be bothered”
The Guest Speaker at the event, Mr Adetoyese Fadele, Head, Professional Practice Department (PPD) of ICAN, commended the forum for the partners’ breakfast roundtable initiative.
Fadele, who spoke on the topic: “ICAN & Professional Practice Management”, said the initiative would enable ICAN to have what was obtainable globally in their local environment.
He emphasized the need to do everything possible to ensure that quackery was eliminated in the profession, saying the institute had identified that most of the challenges were from the Small and Medium Practice (SMP).
Fadele explained that the idea of monitoring was to encourage the SMP to improve and adopt the best practice while empowering members technically.
He, therefore called for vigorous pursuit of the goals set forth in the forum’s blueprint through members’ active participation and support.
He further advised members to be knowledge driven, embrace change, invest in technology, and provide solutions that add values.