CITN, ACCA Agree to Promote Accounting & Taxation in Nigeria

By Dipo Olowookere

A memorandum of understanding (MoU) has been signed between the Chartered Institute Taxation (CITN) and Association of Chartered Certified Accountants (ACCA).

The deal is to promote accountancy and tax profession in Nigeria and will be five years from the date of execution, but could be terminated at any time before the expiry of the initial five year term.

President of CITN, Mr Cyril Ikemefuna Ede, told newsmen at the signing ceremony that the agreement between the two professional bodies will give them the opportunity to work together for the development of accounting and taxation in the country.

According to him, ACCA will share with CITN on the areas of research findings on accountancy, tax, business, corporate governance and ethics, while also inviting CITN leadership team to ACCA Continuing Professional Development (CPDs) events at no cost and offer discounts for ACCA paid CPDs where available.

“The MOU will commence and be effective when it is signed by the last party on the agreement. It may be amended upon the mutual written agreement of the parties.

“The term of this MOU will be five years from the date of execution, save that it may be terminated at any time before the expiry of the five year term,” Mr Ede said.

On his part, Director Sub-Saharan of ACCA, Mr Jameel Ampomah, “The ultimate aim of our partnership is to develop the profession and build on strong foundations created by both bodies. ACCA is excited by the potential of working with the CITN, and we look forward to a long, happy and productive partnership.”