Adeosun, Fayemi, Ambode to Brainstorm on the Economy at ICAN Confab

Ugo Aliogo

In its bid to proffer solutions to the current economic recession and lack of accountability in the nation’s financial system, the Institute of Chartered Accountants of Nigeria (ICAN) has assembled a team of technocrats, professionals and key government functionaries to discuss the current economic condition of Nigeria.

The platform for this discussion is the 46th Annual Accountants’ Conference of the Institute with the theme “Accountability.Now.Nigeria” which holds in Abuja from Monday, October 10 to Friday, October 14.

President Muhammadu Buhari is billed to declare the conference open while the President of the International Federation of Accountants (IFAC), Ms Olivia Kirtley, would deliver the lead paper entitled ‘Accountability and Good Governance’.

The theme of the conference, which is the global Accountability campaign of the International Federation of Accountants (IFAC) titled “Accountability.Now.” is an initiative to encourage higher standards of public sector information around the world. It challenges governments to recognise the importance of working toward financial reporting that meets international standards known as the International Public Sector Accounting Standards (IPSAS).

ICAN noted that it sought to encourage the Nigerian government in the spirit of change, to imbibe the culture of good financial reporting in government spending and public sector financial reporting.

The Institute said it would work with the government to achieve the following initiatives of the “Accountability. Now” campaign in Nigeria: “Build a global coalition to bring together organisations that support the objective of improving transparency and accountability in the public sector; Raise awareness through reinforcing the benefits of sound financial reporting to governments on the need for change; Develop partnerships to effect change and bring together key actors in the public sector to improve financial information in the public sector; and Build more capacity by providing well-trained professional accountants to work with government organizations in order to bring about the change that is required.”

The conference would offer a platform for experts and professionals to rub minds on the way to rescue the country from the current economic recession and how to make accountability the watchword in governance and financial transactions.