Institute of Chartered Accountants of Nigeria, ICAN visits Krisoral Group of Companies.
Chief Chris Oranu Chidume, Group Managing Director, Krisoral Group of Companies has appealed to the Institute of Chartered Accounts of Nigeria (ICAN) to partner tertiary institutions in the country to produce qualified accountants that will have solution to the accounting needs of organisations.
Chidume made the call while hosting Titus Soetan, president ICAN and executive members of the Onitsha District of the Institute, on a factory tour of Krisoral and Company Limited, a subsidiary of Krisoral Group of Companies, Onitsha, Anambra State and makers of Roll on Pilfer Proof (ROPP) caps of different dimensions of Plain, Printed and embossed. Also, High Density Polyethylene (HDPE) caps which comes in carbonated or non carbonated forms; printed, plain and embossed of different colours and in the sizes of 28mm, 30mm xand 41.5mm.Including Drug Dispensing Cups and PVC Shrink Labels.
He observed that book keeping, which according to him is the rudimentary aspect of accounting practice, is declining and urged the accounting body to put more efforts at producing qualified accountants. According to him, you cannot effectively run a backward integration business model without a efficient and effective internal control mechanism. “And for your internal control mechanism to be effective, it requires those elementary book-keeping practices and at any point in time you miss them, it will affect your overall result. .
“I am aware that ICAN has a seat in Nigerian University Commission (NUC), which is the board that accredits University programmes. I am also aware that ICAN on its own clears these faculties, but how come we still produce unbaked graduates from some of these institutions? “If you are building a house and the foundation is weak, you are not building. Consequently, the foundation of any accounting practice, begins from book keeping”.
He appealed to ICAN authorities to demystify accounting practice, such that a layman, would want to learn it and apply it in his/her business knowing that Accounting is the language of business. Soetan, president, ICAN, who was on a presidential visit to Awka and Onitsha districts of the institute, praised the management of Group of Companies for their dexterity. He also praised the Group’s Managing Director for his humility. “This is one of the few places that the GMD will come and receive us himself, take us round the factory. Indeed we are so grateful for your humility and for this large heartedness in receiving us into your company.
“I am happy that some of our members are working in your firm, we cannot request more, but to appeal to you to employ more of them so that they will add more value to the firm. “The Onitsha branch of ICAN has told me that you have been supporting them, which is evidenced in the way you received us this afternoon. But they still asked me to tell you that they need more of your support”. Kenneth Nzegbu, chairman, Onitsha District Society of ICAN, thanked the Group Managing Director of Krisoral Group, for his support to the district.
He explained that ICAN president was in Anambra State to attend to the welfare of members, visit the organizations they are working with as well as know the challenges they are faced with. In his words, “At the end of each presidential year, the president visits district societies. Anambra has two District Societies-Awka and Onitsha, so he is here to visit organizations that we work with, discuss issues that affect us and share opinion with them.
Also on the entourage of the ICAN President, were Ngozi Okonkwo, accountant general of Anambra State, Nasir Mohammed, member of the council, Samuel Ikura, former auditor general of the federation, Ben Ukaegbu, director, technical services ICAN and DCS Alaribe. ICAN is the foremost institute that regulates accounting profession in the country. It was formed in 1965 and has about 40,000 members, who are chartered accountants. ICAN also belongs to regional, continental and international bodies, namely, Association of Accountancy Bodies in West Africa (ABWA), Pan African Federation of Accountants (PAFA) and the International Federation of Accountants (IFAC).
