By CHIOMA OBINAGWAM
THE Association of Chartered Certified Accountants (ACCA) has announced its 10 years of existence in Nigeria with a strong focus in ethical behaviour and partnership.
The Chief Executive Officer (CEO) of the Association, Helen Brand OBE stated this at press briefing held in Lagos at the weekend. She said that the Association which was founded in 1904 currently has about 170,000 members and 436,000 students with presence in 180 countries.
The CEO stressed that a well-coordinated international accountancy profession, like ACCA, which demands the highest ethical and technical standards of world’s professional accountants, is key to positive economic development.
In reacting to the spate of financial misdeeds by professionals, Brand noted that although the association is hinged on the highest ethical standards, ethical behaviour of members could, to a large extent be dependent on the culture of the Organisation and the kind of leadership structure that exists where they work.
She however noted that the association has zero tolerance to unethical behaviours and usually publish names of members who have defaulted in the standard. “ACCA members, from day one, inculcate ethical behaviour. Ethics is integrated throughout the examination. You subscribe to an ethical code and if you are found wanting, your name and the offence you committed will be published so that the public will be aware, among other disciplinary actions,” she said.
Brand also disclosed that all disciplinary matters are also published on the association’s website.She noted that the association has always been part of the International Financial Reporting Standards (IFRS), which the Financial Reporting Council of Nigeria (FRCN) has always advocated for.
On her part, the Country Manager of ACCA, Nigeria, Toyin Ademola, said that the association has achieved significant milestones within the 10 years of existence in Nigeria.
“When we started, we only had a virtual office but now we have three established branches in Lagos, Port Harcourt and Abuja with 29 approved partnerships. We are also partners with universities. In fact, the key word is partnership,” she disclosed.