The Institute of Chartered Accountants of Nigeria has expressed a commitment to the upskilling of its members though its faculties.
According to a statement, the ICAN President, Dame Onome Adewuyi, who spoke at the institute’s faculties induction ceremony, said the inductees into the various faculties had been tested and the governing council of the institute had found them worthy to be awarded the ICAN certificates as specialists in one of seven areas of specialization.
“We understand the rapidly changing dynamics in our profession and remain committed to updating members’ skills and competencies. At the institute, our value proposition is to produce chartered accountants who are fit for the current market and adequately prepared to meet the needs of the evolving future market,” she said.
Adewuyi stated that a key objective for establishing the seven faculties was to help ICAN regulate the practice of special branches of accountancy in which some members operate and open more channels of communication between the institute and its members that perform various specialised functions in the economy.
The faculties are Audit, Investigations and Forensic Accounting; Consultancy and Information Technology; Corporate Finance Management; Corporate Reporting; Insolvency and Corporate Re-Engineering; Public Finance Management; and Taxation and Fiscal Policy Management.
The ICAN president said, “These faculties serve to facilitate networking amongst chartered accountants in relevant sectors such that their unique needs can be identified, collated and satisfied. They also provide professional information that enhances the efficiency and technical competence of members in their workplaces.
“Today’s induction programme is the culmination of one of the major objectives of the faculties to register, train, and issue certification to members as evidence of proficiency and authority in their specialized skills.”
“These are post-qualification programmes designed to train and certify the specialist skills of members. As an Institute that focuses on developing future-ready chartered accountants, our faculties regularly issue guidelines and performance benchmarks for members so as to facilitate peer review.”
She added that, in order to ascertain adherence of faculties’ members to high ethical and professional conduct, they are educated on their peculiar statutory duties and responsibilities such that a culture of best practice is evolved in each specialist area of practice.
“This would not only assist our members to always assume a professional disposition and conduct, but it is also promoting a society where ethics and professionalism are enshrined as the norm rather than the exception,” Adewuyi added.