NDIC Boss Tasks Accountants On Accuracy, Integrity In Financial Sector

Professional auditors, who are members of the Institute of Chartered Accountants of Nigeria (ICAN) have been urged to uphold the core values of accuracy and integrity, if they must earn public confidence and respect in the financial service industry.

The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan said when the National President of ICAN led a delegation to pay him a courtesy visit in his Abuja office.

Hassan explained that both the NDIC and Central Bank of Nigeria (CBN) relied 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.

“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 said.

He said among the 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.

The ICAN members said the aim of the visit was to solicit the collaboration of the NDIC in furtherance to the Golden Jubilee Annual Conference of the institute which is slated to hold between the 5th and 9th of April, 2021.

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