ICAN Urges National Assembly To Review Act

The Institute of Chartered Accountants of Nigeria (ICAN) has approached the National Assembly for the amendment of its enabling Act.

During a  public hearing at the House of Representatives in Abuja, the institute said that since inception, it has supported various governments in the country towards entrenching transparency and accountability in the polity.

ICAN Registrar/Chief Executive, Ahmed Kumshe, said that members of the Institute have contributed to national growth and development in the various sectors they operate, both public and private.

He stated that the curriculum of the Institute had evolved over the years to accommodate developments in the accounting profession; hence one of the need for the amendment.

These amendments, ICAN added, would further bring current practices to be in harmony with global standards and international best practices where tax practice as part of accounting practice does not require professional accountants to register with a separate body in order to practice taxation as is the case in United Kingdom, United States, Australia and New Zealand, India, South Africa, Kenya etc just to mention a few countries in international best practice.

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