Nigeria: New Ican President Seeks Collaboration With Frc On Effective Financial Reporting

5 June 2024
Vanguard (Lagos)
By Providence Ayanfeoluwa

The newly appointed President of the Institute of Chartered Accountants of Nigeria, ICAN, Davidson Alaribe, yesterday, said that working with the Federal Reporting Council, FRC for effective financial reporting in Nigeria, will be top priority during his tenure.

He said this in his acceptance speech at his Investiture as the 60th President of ICAN, held at ICAN Head Office in Lagos.

Additionally, Alaribe who called for suggestions and criticism from members said his tenure would pursue the agenda that it codified in the acronym DIAMOND: Digital Institute and Tech-Savvy Professionals; Innovation and Research; Advocacy and Communication: Membership Drive and Mentoring Young Talents; Operational Efficiency; Networking Opportunities and Repositioning of District Societies; and Deepening Capacity Building.

Meanwhile, the General Overseer of the Redeemed Christian Church, RCCG, Pastor Enoch Adeboye, congratulated Alaribe who is a key member of the church, even as he prayed for God's blessing in the diamond year.

According to Alaribe: "The delegation agreement signed with the FRC has further strengthened the relationship between our two institutions; we would continue to work with the FRC to facilitate effective financial reporting in Nigeria as it holds the ace for attracting Foreign Direct Investments, FDI in the country.

"ICAN has always relied on the in-depth interrogation of relevant issues to advise the government and other stakeholders. In this presidential year, we shall consolidate past efforts at revamping the research and technical department of the institute to become a one-stop place for cutting-edge research and development.

"We will ensure that ICAN remains at the frontier of accounting and finance knowledge, proactively contributing to the national imperative for sustainable and inclusive growth.

However, the Immediate Past President of ICAN, Innocent Okwuosa, said that the global and Nigeria economic landscapes in 2023 impacted the operation of the institute in his Presidential Year.

The institute published 10 position papers on government economic policies, the highest in any presidential year so far as well as internationalizing the ICAN brand.

Read the original article on Vanguard.

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