NDIC Boss Charges Auditors on Accuracy, Integrity

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In order to earn public confidence and respect within the financial services industry, professional auditors who are members of the Institute of Chartered Accountants of Nigeria (ICAN) must uphold the core values of “Accuracy and Integrity” which is also the motto of the Institute.

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, gave the advice during a courtesy visit by the ICAN National President, who was represented by one of the Council Members, Mrs Sofura Seghosime and Chairman of Abuja District, Mrs. Bosede Ikhanoba and other ICAN Executive Members to the NDIC head office in Abuja.

Hassan, was quoted in a statement to have explained that both the NDIC and Central Bank of Nigeria (CBN) rely on the works of third parties which include external auditors and reporting accountants in the Risk-Based Supervision (RBS) of deposit taking institutions. He therefore stressed the need for ICAN members to ensure strict compliance to the high standards expected by the institutions in the discharge of their responsibilities.

Hassan said: “We place a lot of reliance on the work of external auditors that audit our banks or rather all deposit taking financial institutions. We want to see consistency in the way accountants express opinions over audited financial statements.”

Hassan pointed out that among the nation’s MDAs, the corporation has one of the largest number of chartered accountants amongst its workforce.

He therefore reiterated the corporation’s commitment towards continued collaboration with the institute in enhancing the skill and capacity of members in its employment.

Earlier, the council member in company of the Abuja District Chairman had said they embarked on the visit on behalf of the institute’s National President, Dame Onome Joy Adewuyi, to solicit the collaboration of the NDIC in the Golden Jubilee Annual Conference of ICAN which commences today and ends on April 9th.