ANAN Seeks Improved Tax Collection, Integrated Reporting

The President of the Association of National Accountants of Nigeria (ANAN), Alhaji Shehu Ladan, has urged newly-inducted fellows of the association to lead the campaign against corruption and uphold the highest level of ideals, values and integrity of the profession.

Ladan, made the plea during the conferment of Fellowship Awards on deserving members of the association, as part of activities lined up for the 23rd Annual Conference of Certified National Accountants held in Abuja.

According to a statement by ANAN on Thursday, the awards signalled another phase “in your callings as professionals and bring to bear your expertise and practical experience in the accounting profession.”
He added: “As fellows, you are now saddled with a lot of responsibilities. You are mirrors with which others see the association.

“You should eschew unethical behaviour and live above board, watch your public utterances, especially on matters affecting the association and the profession.

“You should serve as role models for the younger members of the association and the profession,” the ANAN president added.
He said the conferment of fellowship was a privilege earned out of hard work, dedication and commitment to the association in particular and the Accountancy profession in general.

“It is for these reasons that you have been found worthy, fit and as proper professionals to merit this prestigious award. Selection is done from Branches nominations. Nominees must have spent not less than 10 years in the profession since qualifying as a Certified National Accountant (CNA).

“The Council reserves the right to nominate any member who has made outstanding contributions to the progress and development of the association,” Ladan said.

In a paper entitled: “Enhancing Taxation as Alternative to Oil,” the Immediate Past President, Chartered Institute of Taxation of Nigeria (CITN), Prof. Teju Somorin, said a number of tax
authorities had been developing strategies and approaches to improve the non-oil tax revenue collection and even recovery processes to have a robust revenue yield.

In another paper titled: “Integrated Reporting for Economic Recovery,” Partner & Chief Economist, PwC Nigeria and the Lead Discussant, Dr Andrew Nevin, said the aggregate benefits accrued in Integrated Reporting (IR) compliant organisations had the potential to boost Nigeria’s economic recovery.

Nevin, noted that a holistic approach to strategy and reporting could lead to higher confidence and satisfaction in investors and stakeholders.

He said in addition, investors gained a more comprehensive understanding of an organisation’s financial and non-financial position, strategic priorities and risks and are able to make more informed investment decisions.

“Fund managers in particular are better able to meet their fiduciary duties to clients, while civil society stakeholders become conscious of the organisation’s role in making their environment more sustainable.
“The direct outcomes include better access to capital for organisations, more efficient resource allocation and improved synergies across various sectors in the economy,” Nevin added.