Leadership (Abuja)
Philip Nyam
15 May 2008
Abuja — The House of Representatives Wednesday kicked against the proliferation of multiple accountancy bodies in the country as it rejected a bill seeking to establish the Chartered Institute of Management Accountants of Nigeria.
This is just as a group of professional bodies; Association of Accountants of Nigeria (ANAN), Chartered Institute of Taxation of Nigeria (CITN) and the Computer Information Systems of Nigeria (CISN) has protested the proposed amendment to the Institute of Chartered Accountants of Nigeria (ICAN) Act 1965.
The bill which seeks to provide for the control of its membership and to promote and foster the practice of the arts and science of cost and management accountancy in Nigeria and sponsored by Hon. Halims Agoda (PDP, Delta) was dropped at the second reading at yesterdays plenary.
Both ANAN and CITN made their separate positions known at the public hearing organised by the House of Representatives committee on finance to consider the proposed bill.
The CITN president and chairman of the council, Kamorudeen Adigun, in his presentation said the proposed section 15 and 19 of the amendment bill, which provides that a chartered accountant shall hold himself out to practice as a tax practitioner and which defines accountancy practice to include tax practice and a chartered accountant to include tax practitioner was to confer on chartered accountants the right to engage in tax practice without the obligation to register with the CITN as required by law.
He said such an amendment would amount to a reversal of the current tax reform efforts of the Federal Government, adding that the matter was before a Lagos Appeal Court where ICAN has appealed against the ruling of a High Court which decided in favour of CITN.
Be the first to Write a Comment!
Copyright © 2008 Leadership. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
