Institute of Chartered Accountants of Nigeria (ICAN)

The Institute of Chartered Accountant (ICAN) has called on the Federal Government to establish special courts that would deal with cases of corruption in a speedy manner.

Razak Jaiyeola, the 54th President of the institute made the call on Tuesday while addressing newsmen in Lagos on this year’s anti-corruption day celebration, stressing that delay in adjudicating on corruption cases could serve as an impetus for perpetrators to continue in the act.

He said that the country needed a judicial system that would be strong to serve as deterrent against corrupt tendencies, adding that drastic situation requires drastic solution and that declaring a state of emergency on corruption in the country would not be out of place.

Jaiyeola further said that the ICAN Investigative Panel and the Disciplinary Tribunal continue to deal decisively with all reported and observed cases of infractions by any member of the institute.

“Over the years, several cases have been investigated and tried. The accounting profession is a sensitive one in the economy and ICAN frowns at any attempt by its members or any other individuals to lower the ethics and standards of the profession.

“According to a study by the International Federation of Accountants (IFAC), it has been proven that professionalised accountancy populations are better positioned to fight corruption.”

He also said that the Acts establishing the different agencies saddled with the task of fighting corruption should be revisited and further strengthened to grant them total autonomy from any seating government, that this would forestall political interferences in the activities of the agencies.

The ICAN President also noted that government should mandate all political office holders or aspirants to declare their assets before and after tenure of office.

“The Bureau of Public Enterprises should be independent and equipped with necessary facilities to discharge their mandate adequately. Publish their audited reports under the International Public Sector Accounting Standards (IPSAS) which was adopted as a framework for public sector reporting in 2010,” he added.

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