Business - News - April 2, 2021

NDIC MD urges ICAN member auditors to embrace accuracy, integrity

Members of the Institute of Chartered Accountants of Nigeria (ICAN) who are professional auditors must strive to uphold the core values of “Accuracy and Integrity” the motto of the Institute to earn public confidence and respect within the financial services industry.
The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan gave the advice when the ICAN National President represented by one of the Council Members, Sofura Seghosime and Chairman of Abuja District, Bosede Ikhanoba and other ICAN Executive Members visited him in his office in Abuja.
Hassan said both the NDIC and Central Bank of Nigeria (CBN) relied on the inputs by third parties such as external auditors and reporting accountants in the Risk-Based Supervision (RBS) of deposit taking institutions to carry out their assignments.
The NDIC MD stressed the need for ICAN members to ensure strict compliance to the highest standards expected by the institutions in the discharge of their responsibilities.
“We (NDIC) rely a lot 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 their opinions over audited financial statements, ” he said.
Hassan pointed out that among the nation’s ministries, departments and agencies (MDAs), the Corporation has one of the largest numbers 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 said their visit was 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 scheduled for between April 5 and 9, 2021.
Adewuyi congratulated Hassan on his recent appointment as NDIC’s MD/CE, noting that this was a testimony to his vibrancy, hard work and invaluable contributions to the growth of the banking sector for over 30 decades.

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