Federal Government Urges Professional Accountants to Uphold Ethical Practice for Economic Development

President Muhammadu Buhari has called on professional accountants in Nigeria to prioritize ethical practices in order to drive accelerated economic development through the prudent management of public funds. Speaking at the 2015 yearly National Conference of the Association of National Accountants of Nigeria (ANAN) in Abuja, the President emphasized the importance of upholding ethical standards and professional ethics in financial management.

Highlighting the need for a robust model for resource utilization, financial reporting, and performance evaluation, President Buhari urged accountants to work towards ensuring transparency and accountability in public financial management. He also emphasized the government’s commitment to initiatives such as GIFMIS, IPPIS, IPSAS, and the Treasury Single Account (TSA), calling for their faithful implementation.

The President stressed the importance of the accounting profession partnering with the government to establish a performance-focused system that adheres to the best professional standards in revenue mapping and expenditure profiling. He emphasized the role of ethics and values in addressing Nigeria’s challenges, particularly in promoting accountability and transparency in both the public and private sectors.

President Buhari’s remarks underscored the significance of ethical conduct and value orientation in driving efficient public financial management and building a new and greater Nigeria. As the country continues its quest for best practices in accounting systems, the President called for a collective effort to enhance accountability, transparency, and fiscal discipline in the management of public funds.