- Decries accountancy bodies’ proliferation as unhealthy
BY EDMOND ODOK – The Acting Accountant General of the Federation (AGF), Mr Sylva Okolieaboh has challenged accountants in the country to expand their horizons and shun narrow perspectives that negatively affect their relevance in a fast-changing local and global environment.
This is as he also decries the needless proliferation and multiplicity of accountancy bodies in the country as a harmful influence on both professional standards and public perception of the value of accountants.
Addressing members of the newly inaugurated Unit of the Association of National Accountants of Nigeria (ANAN) in the Office of the Accountant-General of the Federation (OAGF), Okolieaboh said it is imperative that accountants work on breaking new grounds and rise to the fullness of their professional functions and practice.
Okolieaboh, who recollected his comments during an earlier engagement with the leadership of the Institute of Chartered Accountants of Nigeria (ICAN), said the profession is confronting two key challenges, the first being “the noticeable disinterest of accountants in intellectual matters affecting the ability of accountants to rise above the routine”; and the second, the diminishing appeal of integrity and ethics among accountants”.
He, therefore, urged public sector accountants to emulate the noble examples of the first generation of Nigerian accountants who embodied “the very best of professional excellence, integrity, and modesty”.
The acting AGF also condemned the popular presumption, especially among public sector accountants, that their main function is payment, which has led to a focus on a finite number of functions that culminate in the payment either by cheque signing or raising online mandate.
Highlighting the consequences of this wrong mindset on the work of professional accountants, Okolieaboh said; “This reductionist view of the role of the accountant is equally dangerous. It is the reason anyone who can perform any of those routines considers himself an accountant. It is the reason everyone believes he can perform accounting duties…
“It is the reason, ladies and gentlemen, matters of financial management have been relegated to the background. It is the reason that the new generation of legal and routine accountants, do not reckon with the very essence of our profession and calling: stewardship expressed in financial statements”.
He also expressed discomfort that there are currently over six accountancy-related bodies recognized by law in the country with double that number at various stages and processes of registration, describing the proliferation as “a recipe for value degradation”.
According to him; “The more, the merrier” may be a useful adage in the general affairs of society; but in the specific and narrow world of professional accountancy, or any profession for that matter, it is a recipe for value degradation. “It is creating a disturbing generation of ‘legal accountants’ instead of well-trained and groomed professional accountants. The difference is that while “legal accountants” are covered by the law, they lack the requisite training and competence to discharge the duties of true accountants.”
While congratulating the newly elected executive members of the ANAN chapter, the Acting AGF urged them to play an important role in the urgent task of improving professional standards and contributing to the nation’s development.
Earlier in his inaugural speech, the Deputy Director, Funds, Dr. James Abalaka (FCNA), said to guide against aberrations, an average accountant must embrace innovativeness, reliability, (integrity related), Trustworthiness (integrity related), strong organizational skill and vigilance (due diligence related).
Abalaka referred to the Association of National Accountants of Nigeria (ANAN), Office of the Accountant General of the Federation (OAGF) Unit members, as ambassadors of the Treasury and advised them as accountants to earn the trust of the people.
He also urged them to demonstrate integrity and trust in the discharge of their duties in order to positively project the profession and reverse the already bad impressions about accountants in the public space.
The highlight of the ceremony was the unveiling/official inauguration of ANAN, OAGF Unit, by the Chairman, ANAN, Abuja Chapter, Mr Shauah Elisha Andrew. The ANAN OAGF Unit has Mr Fadipe Joseph as the Coordinator, with Idode Ohis as Secretary and Wumakalsim Katugwa as Treasurer.
