The Institute of Chartered Accountants of Nigeria (ICAN) has awarded the Forensic Accounting and International Financial Reporting Standards (IFRS) certificates to some of it members who qualified in the various examinations.
Forensic accounting is a mechanism for the global war against corruption, money laundering and terrorism financing, even as IFRS is the globally accepted accounting principle.
In the last five and three years about 365 and 204 members have received the forensic accounting and IFRS certification respectively.
The rising spate and sophistication of fraud in the public and private sector spurred the certification, President of ICAN, Alhaji Kabir Mohammed said.
He said this at the 5th induction for graduates of the institute’s forensic accounting and certification programme cum 3rd IFRS proficiency certificate award ceremony in Lagos. Mohammed said that the capacity building is a reaffirmation of its commitment to the war against corruption, fraudulent and other social vices that have impeded the nation’s smooth match to development.
He advised the inductees to consistently discharge their duties, encouraging that they develop the habit of watching crime related films and attending court sessions in order to avail self with financial frauds.
“Globalisation has impacted business transactions, ethics, financial reporting. The impact of globalization on our economy in particular, our capital market from implementation of IFRS remains a major reason of concern.
“Following Nigeria’s adoption of IFRS the corporate finance management has been in the forefront of building capacity in this area. It is in pursuance of this mandate that certificate of proficiency are issued to desiring members,” he said. (Vanguard)