ACCA, ANAN Partner to Develop Accountancy, Finance Profession

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James Emejo in Abuja
The Association of Chartered Certified Accountants (ACCA) and the Association of National Accountants of Nigeria (ANAN) have signed a Memorandum of Understanding (MoU) to develop the accountancy and finance profession in the country.

The partnership would also enhance their collaborative efforts to achieve their organisational objectives.

Speaking at the signing ceremony, President of ANAN, Prof. Muhammed Mainoma, said the new normal, occasioned by the COVID-19 pandemic, requires new skill sets and competencies for the accountancy and finance professionals to deliver value and support economic growth.

Similarly, Country Head, ACCA Nigeria, Mr. Tom Isibor, pointed out that the MoU presented an opportunity for both bodies to align and leverage their resources, collateral and network to promote collaborative efforts on key areas of mutual interest, particularly the development of well-rounded accountants and finance professionals in the country.

He emphasised that the partnership actually kicked off in November 2020 with a conference on Sustainable Public Finance organised by both bodies in collaboration with the Chartered Institute of taxation of Nigeria (CITN) and the Bureau of Public Sector Reforms (BPSR) in Abuja.

Other areas of collaboration include research, development of intellectual properties, publications, roundtables and focus studies.

ACCA, in a statement further explained that the agreement is in line with both ACCA and ANAN’s vision of developing the accountancy profession in a “changing world which has been fast tracked by the COVID-19 pandemic”.

“The current clime is requiring new skill sets and competencies for the accountancy and finance professional to deliver value and economic growth.

“Collaborating with ACCA is therefore part of our strategic objective of driving value through partnerships,” it stated.

The partnership further highlights ACCA’s determination to enhance delivery through quality and effective collaboration.

In June 2019, the association had also partnered the federal government to address deficiencies in public sector accounting in the country.

Isibor, had stressed the need for professional accountants to take the lead in the ongoing reforms being carried out by government to reposition the practice towards greater efficiency.

He maintained that professional accountants needed to drive financial management reforms in the public sector as it would enable the government to institutionalise fiscal discipline, transparency, probity and accountability in the management of public finances.