ANAN REJECTS PROPOSED ICAN AMENDMENT BILL

ANAN REJECTS PROPOSED ICAN AMENDMENT BILL

The Association of National Accountants of Nigeria (ANAN) has rejected the ongoing amendment of some sections of the Institute of Chartered Accountants of Nigeria (ICAN) establishment Act.

ANAN said if the amendment is allowed to sail through, it would cause rivalry among professional bodies in Nigeria.

The President of ANAN, James Ekerare Neminebor, stated this at a public hearing organised by the National Assembly on the proposed amendments.

Represented by a member of Council of ANAN, Suleiman A.S Aruwa, the ANAN President said the proposed amendments offend the membership of ANAN.

He, therefore, called on the legislative Committee to expunge the sections to avoid distortions of the Accountancy profession.

On the amendment of Section 14 of the Principal Act, by inserting a new Section 15 which states that, “Chartered Accountant shall be entitled to practice of hold himself out to practice as an Auditor, a Reporting Accountant, Financial Accountant, and Corporate Reporting Services among others,” the ANAN president said ICAN should restrict her scope to accounting, auditing and assurance practice.He said the amendment of Section 19 of the Principal Act now Section 27 conflicts with the proposed amendments to the new Section 15 in content and context.