By Oluwole Josiah, Abuja

Friday, 26 Nov 2010

The Senate read for the second time on Thursday a bill seeking to establish the Institute of Certified Public Accountants of Nigeria, amid contentions on the propriety of having another certifying institution for accountants in Nigeria.

The bill, which is being sponsored by the Senate Leader, Mr. Teslim Folarin, seeks to provide access to accountants in the employ of government agencies and parastatals.

Senators Lee Maeba and Ibrahim Idah criticised the bill, saying it was an attempt to proliferate institutions without respect to standards.

They also argued that setting up qualifying institutions might compromise standards and become counter- productive at the end.

But Senator Idris Umar noted that the bill was geared towards ensuring that accountants in the employ of governments at all levels had access to institutions that could benefit and improve the quality of their work.

Source: Punch