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ANAN mobilises members for anti-corruption fight

By Chijioke Nelson, Asst. Editor, Finance/Economy
22 October 2018   |   3:09 am
The Association of National Accountants of Nigeria (ANAN) has renewed its campaign against corruption, urging its newly-inducted Fellows to lead the fight and uphold the highest level of ideals, values and integrity of the profession. The President of the accounting body, Alhaji Shehu Ladan, during the conferment of Fellowship Awards on deserving members on the…

[FILE PHOTO] President of ANAN, Shehu Ladan

The Association of National Accountants of Nigeria (ANAN) has renewed its campaign against corruption, urging its newly-inducted Fellows to lead the fight and uphold the highest level of ideals, values and integrity of the profession.

The President of the accounting body, Alhaji Shehu Ladan, during the conferment of Fellowship Awards on deserving members on the sidelines of the just concluded 23rd yearly conference of Certified National Accountants, in Abuja, said they must bring to bear their expertise and practical knowledge in the profession.

“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,” he said.

He said that 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. Fellowship of ANAN, like any other professional body, goes with certain specific privileges of symbolic or material nature or both.

In a paper entitled: “Enhancing Taxation as Alternative to Oil’’, the immediate-past President of the Chartered Institute of Taxation of Nigeria (CITN), Prof. Teju Somorin, said that quite 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.

“Given the recent unstable nature of oil revenues globally, the three tiers of governments have in the last few years noted the need to diversify sources of revenue generation so that funding of government budgets will not be affected.

“In view of the prevailing circumstances, Nigeria’s government, which depends largely on revenues from oil, have acknowledged the need to reduce the economy’s oil dependency, setting up a number of initiatives aimed at diversifying the economy,” she said.

For her, the taxpayer, being the centre-piece of any tax reform, should be treated as “king”, because if there is no taxpayer, there would be no assessment, while where there is no tax revenue, there would be no growth.

In another paper titled: “Integrated Reporting for Economic Recovery’’, the Partner/Chief Economist, PwC Nigeria and the Lead Discussant, Dr. Andrew Nevin, said that the aggregate benefits accrued in Integrated Reporting (IR) would be enough to boost Nigeria’s economic recovery.

Nevin noted that a holistic approach to strategy and reporting could lead to higher confidence and satisfaction for investors and stakeholders, besides gaining a more comprehensive understanding of an organisation’s financial and non-financial position, strategic priorities and risks and ability to make more informed investment decisions.

“IR consolidates information about an organisation’s strategy, governance, performance and prospects to communicate the commercial, social and environmental context within which it operates.

“It provides a comprehensive overview of an organisation’s management practices within the context of its external environment, while examining how the entity generates and sustains value in the short, medium and long term.

“The IR framework was developed by the International Integrated Reporting Council (IIRC) to redefine corporate reporting to include the full range of factors affecting value creation in
organisations as well as support integrated or holistic thinking and decision-making.

“Furthermore, with IR, policymakers can ensure that internal decision making processes, priorities and incentives are linked with Environmental and Social Governance (ESG) values that ensure economic and market stability,’’ he said.

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