ABUJA – Mr Chidi Onyeukwu Ajaegbu, the President, Institute of Chartered Accountants of Nigeria (ICAN), on Tuesday said involvement of more professionals in project implementation would enhance economic growth in the country.
Ajaegbu said this at the opening of the 44th ICAN Annual Conference in Abuja with the theme “Protecting the Public Interest; Enhancing Professionalism.’’
“The Involvement of more professionals in resource allocation and utilisation decisions, project implementation processes will inevitably enhance economic growth and development and by extension the collective wealth and comfort of Nigerians,’’ he said.
He said that public interest could be served if allocation of resources was designed to promote the common good.
Ajaegbu said that the rule of law should remain the foundation of governance, adding that constitutional provisions should allow free operations to promote healthy labour relations, security, peace and progress. [eap_ad_2] He said that merit should take precedence over mediocrity in employment and deployment of public officers
“Appointment to public office is driven by philosophy of service rather than self enrichment and public officers must be made to take responsibilities for their actions or inactions,’’ he said.
The president advised ICAN members to continue to act responsibly in the public interest by ensuring that members maintained the highest standard of professional conduct and competence.
According to him, chartered accountants must resolve to continue to provide stakeholders, including business communities with sound financial advice, credible and reliable financial and non financial reporting.
“Through our attestation function, we will continue to lend not only credence to credible stewardship reports, but also raise red flags for observed improprieties.
“Since we have the capacity to simultaneously play significant role in complex art of managing businesses, corporate governance and wealth creation, we will continue to promote and enforce compliance to best practices in the economy,’’ he said.
The president said the conference would be an avenue to reaffirm the commitment to the noble cause of serving the public interest.
The Minister for Industry, Trade and Investment, Dr Olusegun Aganga, said that accounting was a hallmark of professionalism and played a major role in developing the society.
He said Nigeria needed strong institutions for stable economic growth and development and urged ICAN members to uphold integrity and trust in the accounting system in the country.
Aganga stressed the need to have strong will from leadership, strong institutions and press freedom, among others, to ensure stable economy.
Aganga urged members of the institute to always advocate for accountability so as to restore honour and credibility to the profession and make Nigeria a developed society. (NAN)[eap_ad_3]
