Lagos State Governor, Mr. Akinwunmi Ambode, 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.
Ambode, speaking in Lagos at the investiture of Mallam Ismaila Muhammadu Zakari as the 53rd President of the Institute recently, noted that at no other time in the history of the nation has the need for transparency and accountability been more compelling than now.
The Governor, who was represented at the event 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 to have adopted IPAS accrual in line with the present administration’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 has adopted IPAS accrual with effect from 2016. This is line with our commitment to ensuring transparency in governance as a key requirement towards making Lagos economy globally competitive,” the Governor opined.
He said, “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.”
Governor Ambode averred that the accounting profession has continued to evolve and adapt to new issues as they emerge, attributing it to 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 election to the leadership role, Ambode lauded the tradition of seamless change of headship at the Institute noting that every member of the Institute must, therefore, be proud of this tradition.