ICAN

By Sunusi Abubakar

The primary aim of the Institute of Chartered Accountants of Nigeria (ICAN) is not just about producing accountants; it is about shaping the accounting profession through certified professionals who are fair, accountable, and upright. The profession itself is ultimately built on integrity, honesty, and confidentiality.

To many, passing rigorous ICAN examinations is final, but in reality, it is just a mark of resilience, dedication, and discipline. The true essence of becoming a chartered accountant lies in what one can do after achieving the qualification.

Until I became a chartered accountant, I realised that ICAN was never just about exams: it was about preparing me for continuous learning, growth, and responsibility.

According to Merriam-Webster, a professional is defined as “someone who has specialised training, practices in a recognised occupation, and upholds the standards and ethics of that field.” Going by this definition, one can see that professional life doesn’t require only certification but also continuing professional development to meet the demands of the profession.

Becoming a chartered accountant is a way forward to lifelong learning. One has to continue reading from basic accounting knowledge to Artificial Intelligence, Data Analytics, and Sustainability Reporting. One has to attend ICAN’s Mandatory Continuing Professional Development (MCPD) and enrol in short courses or seminars on tax reforms, IFRS updates, and auditing standards. A professional needs to specialise in key accounting areas such as forensic accounting, risk management, or corporate finance, and earn global certifications such as ACCA, CFA, CPA, CIMA, or CIPFA.

As AI becomes a necessity for accountants, professionals need to leverage it by developing both digital and technical skills. Learning data analytics tools like Power BI and Tableau is essential. Professionalism is not just about a certificate but about the value a professional adds in reality. A professional is expected to know everything within the scope of his profession. Leadership, skills, and global exposure are what make one a true professional.

ICAN is just a foundation, but continuous learning makes an accountant truly relevant and competitive.

Sunusi Abubakar, ACA, wrote from Gangare Quarters, Birnin Kudu, Jigawa State.

By Uzair Adam Imam

The Institute of Chartered Accountants of Nigeria (ICAN) held a prestigious event to mark the investiture of the Kano and District Society’s 43rd Chairman, Sa’idu Musa Bala, for the 2024/2025 term.

The ceremony, which brought together distinguished guests, including professionals in the accounting industry, business leaders, and government officials, took place on Sunday at the Grand Central Hotel in Kano State.

Other notable personalities attended to witness the formal induction of the new chairperson and celebrate the continued commitment to excellence in accounting practice.

A traditional title holder, Sarkin Shanun Kano, Shehu Muhammad, called on the new chairman to work diligently to ensure progress, emphasizing the importance of making significant achievements within the one-year tenure.

He stated, “The new chairman should work tirelessly to ensure that he makes wonderful achievements within the span of twelve months of his tenure. We also wish him the best of luck.”

Professor Kabiru Isa Dandago presented a paper titled “Spirituality and Godliness in Accounting Practice,” highlighting the promise of the accounting profession in the fundamental accounting equation, which represents moral truth: every transaction has a giver and receiver of the same value. He emphasized that accountants must act ethically, faithfully, and consistently in the best public interest.

He was quoted as saying, “However, in real life, accountants have not been able to harmonize or reconcile the latter and the spirit of accounting with happenings in society and to extricate the accounting profession from unethical and unspiritual transactions.”

Professor Dandago further stressed that Nigeria needs all practicing accountants and accounting officers in various public and private sector organizations to be ‘vaccinated’ with SAV (Spirituality, Accountability, and Vigilance) to protect the country’s wealth against the high level of fraudulent practices.

After his inauguration, the new chairman, Sa’idu Musa Bala, expressed his commitment to improving accountancy in Kano State.

He stated, “We are aware of the situation of the accountancy profession in Kano. Kano is the center of commerce in the country. However, many companies are failing every day, and the reason must not be unconnected to the lack of professionalism.”

He added, “Any company that you see making significant progress, if you look behind that company, you will see that they have many chartered accountants guiding them. A chartered accountant is like a medical doctor to any business. A businessman will come, and the chartered accountant will analyze that business, see where it is ‘sick,’ and provide a solution.”

The new chairman and the newly inaugurated executives are determined to ensure the highest standards of professionalism and ethics in accounting practice in Kano State.