The Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered
Institute of Management Accountants (CIMA) have signed a Memorandum
of Understanding (MoU) with diverse provisions to improve the accounting
profession in Nigeria and the continent.
They also have agreed to build a research Centre in Nigeria to ensure that
accountants in Nigeria and around the world are well equipped to deliver
quality work and to contribute to the economies of the continent.
Speaking at the event in Abuja on Monday, President of ICAN, Ismail
Zakari, said both bodies had been discussing areas of cooperation which
also include collaboration in terms of reciprocity, which would allow CIMA
members to become ICAN members and vice versa.
He disclosed that the outcome of the discussions is the MoU agreement
which would greatly promote the practice of public accounting as well as
help Nigeria and Africa in general to have a stronger economy.
“This MoU between ICAN and CIMA will last for five years, and it is a
collaboration between ICAN and the Association, who is also representing
the Institute of Management Accountants UK to collaborate in terms of
sharing ideas professionally and the reciprocity with regards to our
members who want to become members of CIMA and also CIMA members
who want to become member of ICAN. So, we have in this agreement spelt
out the terms and arrangement whereby our members will become
members of CIMA and CIMA members will become members of ICAN in
addition to other projects and collaboration to improve the practice”, Zakari
stated.
The ICAN President also revealed that the partnership would see both
bodies looking into having a centre of excellence for research in Nigeria,
where CIMA and ICAN would work together to do a lot of research in
emerging areas to aid contribution to public finance and accounting which
is CIMA’s area of specialization.
In his address, CIMA’s Regional Vice President, Africa, Mr.
BadibangaPormesse, described the MoU as a winning formula for the
Accounting profession in Nigeria and Africa.
According to him, “the agreement means everything. We care about the
profession of Accountancy;we care about African economies; we care
about Nigeria. So, for us coming together under the umbrella of the
Association of International Certified Professional Accountants to agree on
some terms and conditions and to sign this agreement with ICAN here in
Abuja, Nigeria is a winning formula for the profession”.
A source close to CIMA said the partnership between both CIMA and ICAN
is a continuation of CIMA’s efforts to reskill finance professionals in Africa
to meet the needs of an evolving world.
“Backed by the strength of the Association of International Certified
Professional Accountants which is the new global organisation formed by
CIMA and the American Institute of CPAs (AICPA), CIMA will continue to
work on equipping finance professionals in Africa with the education and
resources they need to go beyond for the future”, the source volunteered.
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