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The Impact of Professional Bodies on the Development of Accountancy Profession in Nigeria

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– The Impact of Professional Bodies on the Development of Accountancy Profession in Nigeria –

Download The Impact of Professional Bodies on the Development of Accountancy Profession in Nigeria. Accounting students who are writing their projects can get this material to aid their research work.

Abstract

In Nigeria, there are three well recognized Accountancy professional bodies that see to the overall affairs of Accountancy profession. These professional bodied are; Institute of Chartered Accountants of Nigeria (ICAN). Association of National Accountants of Nigeria (ANAN), Institute of Cost and Management Accountants (ICMA).

This work analysis the impact of professional bodies on the development of Accountancy profession in Nigeria. In order to find out the impact of these professional bodies on the development of accountancy in Nigeria, the activities of these professional bodies were examined.

The mutual relationship among these professional bodies was studies and various impacts created by some organs of professional bodies such as society of Woman Accountants of Nigeria, Chartered Accountants in Business etc, were also examined. Secondary data were the main source of data used for the analysis.

Introduction

Accountancy as a profession has undergone various stages in its development. Various accounting bodies of the world have contributed to the development of the profession in their various countries and beyond.

In order to lay more emphasis on the impacts of the professional bodies mostly as it concerns Nigeria let’s look at three major professional accountancy bodies in Nigeria; the Institute of Chartered Accountancy of Nigeria (ICAN), the Association of National Accountants of Nigeria (ANAA) and the Chartered Institute of Cost and Management Accountants (CIMA).

ICAN as the first and foremost professional accountancy body in Nigeria was seen to have contributed greatly to the development of the accountancy profession in Nigeria.

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