- Agree to build research centre in Nigeria
By Adedayo Akinwale in Abuja
The Institute of Chartered Accountants of Nigeria (ICAN) and Chartered Institute of Management Accountant (CIMA) Monday signed a Memorandum of Understanding (MoU) to improve the accounting profession in Nigeria and the world over.
Both institutes have also agreed to build a research centre in the country 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.
The President of ICAN, Ismail Zakari, while speaking at an event in Abuja, said that last year both institutes discussed areas of cooperation which also include collaboration in terms of reciprocity, which would allow CIMA members to become ICAN members and vice versa.
He stressed that the agreement would also promote public accounting, and help Nigeria to have a stronger economy and Africa as a whole.
Zakari stated: “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 Accountant, 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 spell out the terms and arrangement whereby our members will become members of CIMA and CIMA members will become members of ICAN.
“We are also looking into having a centre of excellence for research in Nigeria, where CIMA and ICAN will work together to do a lot of research in emerging areas where we will contribute to public finance and accounting and also accounting in the industry which is the CIMA’s area of specialisation. That research is something that ICAN looks forward to very strongly and we are sure that it will impact on Nigeria’s economy positively.”
Also, CIMA Regional Vice-President, Africa, Mr. Badibanga Pormesse, described the MoU as a winning formula to the accounting profession.
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, that is the Association of International Certified Professional Accountants to agree on some terms and conditions and to sign of this agreement of ICAN here in Abuja today is a winning formula for the profession.”