Reps reject forensic audit bill, say it replicates ICAN, ANAN

The House of Representatives on Tuesday rejected the Bill for an
Act to establish the Chartered Institute of Forensic and
Investigative Auditors of Nigeria for effective regulation and
registration of members.

The bill also determines the knowledge and skills that a
practitioner is required to attain in order to qualify to practice
as a Forensic and Investigative Auditor.

The bill was sponsored by Rep. Uzoma Nkem-Abonta (PDP-Abia) and
two other lawmakers.

The bill, which passed first reading, was rejected by the House
for the conflicting role of the Chartered Institute of Forensic and
Investigative Auditors of Nigeria with similar professional body
such as the Institute of Chartered Accountants of Nigeria.

The bill also had conflicting role with the Association of
National Accountants of Nigeria.

Contributing to the debate on the bill, the Deputy Speaker, Mr.
Lasun Yussuff, stated that since the word ‘audit’ was being
contested, it could, for clarity purposes, be coined to read
‘forensic investigators’ or ‘experts.’

He explained that the Bill could look like an exclusive
accounting bill, but with his advice, it would be more encompassing
for other fields.

Nkem-Abonta said that the word ‘audit,’ was encompassing and
could be used as investigation and the bill should not be watered
down just because accountants don’t feel comfortable with it.

He also noted that the bill, as it was, was not an exclusively
accounting one, but all encompassing.

Also in his contribution, Rep. Simon Arabo (PDP-Kaduna), said
that if the word ‘auditor’ was the only contention, it could be
expunged to accommodate the content.

Rep. Kayode Oladele (APC-Ogun), contributing said that since it
had been ascertained by the three-man committee set up by the
Speaker that other countries had the proposed body, the Bill needed
to be passed.

Rep. Oladimeji Ayodele (PDP-Ekiti), said that if the proposed
Bill was for the establishment of an association, it would be okay;
but the fact that the proposed institute seeks to be chartered,
then it was contradictory to laid down law.

Rep. Shehu Garba (APC-Kaduna), said that auditing was one
responsibility strictly reserved for accountants and passing the
proposed bill as it was would be creating confusion of agency roles
in the minds of Nigerians.

Also, Rep. Babangida Ibrahim (APC-Katsina), on his part, said
that an auditor was a professional.

“So, the word ‘audit’ should be expunged. The way it is being
applied in the proposed bill or the bill should not be passed.”

Nkem Abonta, in exercising his right of reply, said that the
term ‘audit’ in the bill was just to investigate and did not seek
to take anything away from the accounting profession.

The bill was put to a voice vote by the Speaker, Mr. Yakubu
Dogara, and lawmakers unanimously declined passing it through
second reading.

(NAN)