Governor Akinwunmi Ambode, of Lagos State has charged the Institute of Chartered Accountants of Nigeria (ICAN) to respond appropriately to the increasing demand for transparency and accountability particularly in the public sector.p
Ambode who spoke in Lagos at the investiture of Mallam Ismaila Muhammadu Zakari as the 53rd President of the Institute noted that at no other time in history of the nation has the need for transparency and accountability been more compelling than now.
The Governor who was represented by the State Head of Service, Mrs. Olabowale Ademola added that the State Government was already showing leadership in this regard by being one of the States in the federation that have adopted IPAS accrual stressing that this was in line with the State Government’s commitments towards ensuring transparency in governance as a key requirement towards making the State economy globally competitive.
“I am proud to say that Lagos State is showing leadership in this regard by being one of the States in the Federation that have adopted IPAS accrual with effect from 2016. This is line with our commitment to ensure transparency in governance as a key requirement towards making Lagos economic globally competitive,” the Governor opined.
Governor Ambode stressed the need for the Institute to be in the forefront of ensuring that the profession is properly positioned to meet global standards and best practice as a way of meeting local expectations adding that it must also key into the new order through appropriate manpower development strategies and strict compliance with relevant standards.
His words, “One of the key expectations to which we must continue to respond appropriately is the increasing demand for transparency and accountability with more emphasis on the public sector. It is a global issue which I am happy to note is being responded to by the Institute. However, we must continue to be at the forefront in ensuring that the profession is properly positioned to meet global standards and best practice as a way of meeting local expectations. We must key into new order through appropriate manpower development strategies and strict compliance with relevant standards.”
He averred that the accounting profession has continued to evolve and adapt to new issues as they emerge factors he attributed as being responsible for the sustained high reputation of the Institute and its products globally.
“It has been the responsibility of successive leadership of the Institute to ensure that the profession remains relevant and responds to the dynamics of the environment and expectations of all stakeholders. I believe this is one key factor that has sustained the high reputation of the Institute and its products globally,” the Governor said.
While congratulating the new President of the Institute on his ascension to power, Ambode lauded the tradition of seamless change of leadership at the Institute noting that every member of the Institute must therefore be proud of this tradition.