ICAN President Urges Members to Uphold Ethical Business Practices

The Institute of Chartered Accountants of Nigeria (ICAN) has emphasized the importance of upholding ethical business practices in the professional services industry. At the 2021 faculties induction ceremony in Lagos, the 56th President of ICAN, Dame Onome Joy Adewuyi, urged members, firms, and organizations to adhere to best practices to ensure success in their careers.

Adewuyi highlighted the significance of accuracy and integrity in guiding practitioners towards the fundamental principles of integrity, objectivity, competence, confidentiality, and other professional behaviors. She emphasized the role of ICAN’s Faculties in providing technical support to members based on their specific needs and helping regulate specialized branches of accountancy.

The president also stressed the importance of certified insolvency practitioners and corporate finance managers in building strong and competitive firms in Nigeria. She encouraged members to maintain high ethical and professional standards, promoting a culture of best practices in their respective areas of expertise.

Furthermore, Adewuyi underscored the crucial role of forensic accountants in uncovering and addressing financial malpractices within organizations. She highlighted the need for forensic accountants to work closely with solicitors to gather essential information and combat corruption that hinders the country’s growth and development.

In conclusion, Adewuyi urged members to uphold the institute’s values and distinguish themselves through the quality of services they provide to clients. She emphasized the importance of continuous learning, staying updated on technological advancements in the accounting profession, and maintaining a global perspective while addressing local challenges. By embracing these principles, ICAN members can enhance their effectiveness and efficiency in their professional endeavors.