GOODWILL MESSAGE
By
THE 59TH ICAN PRESIDENT
AT THE PUBLIC PRESENTATION OF THE SUBNATIONAL AUDIT EFFICACY (SAE) INDEX 2023
At
Shehu Musa Yar’Adua Centre, Abuja
Thursday, March 14, 2024
Protocol
On behalf of the Governing Council and the entire membership of The Institute of Chartered Accountants of Nigeria (ICAN), I extend our warmest greetings and heartfelt appreciation to the Paradigm Leadership Support Initiative (PLSI) on this auspicious occasion. It is indeed an honor to be here today to witness the Public Presentation of the 4th edition of the Subnational Audit Efficacy (SAE) Index 2023, a pivotal publication that embodies the essence of transparency, accountability, and good governance in our subnational entities.
The Subnational Audit Efficacy (SAE) Index with the sole objective of examining the level of transparency and accountability in the management of public funds and implementation of public policies in all the 36 states of the federation has played a crucial role in evaluating the efficiency of audit systems, enhancing governance practices, and promoting financial integrity at the subnational level. This 4th edition marks a significant milestone in PLSI’s commitment to enhance accountability standards, bolster institutional capacity, and promote sustainable development across our subnational entities.
ICAN acknowledges and strongly commends the crucial role the SAE Index plays in driving strong audit processes within the subnational entities and fostering a culture of responsible governance.
We applaud PLSI’s unwavering commitment to contribute to the country’s overall development and fiscal health of the States and Local Governments.
The Institute values the strong partnership we share with the Paradigm Leadership Support Initiative (PLSI) in this endeavor. Our ICAN Accountability Index (ICAN AI) is a pioneering initiative aimed at fostering accountability and transparency across all levels of
government within the Federation. This innovative index, the first of its kind, is designed to encourage the adoption of best practices in Public Financial Management (PFM) by
assessing the performance of each State across five critical pillars. Recognized both
nationally and internationally, the ICAN-Al serves as a rigorous and equitable tool for monitoring PFM practices.
It is, therefore, my great pleasure to state that as a body of professionals committed to upholding the principles of professionalism, integrity, and ethical behavior in our service to society, ICAN is eager to explore the findings of the SAE Index 2023. This data will undoubtedly provide valuable insights into areas where further support is needed to strengthen subnational audit practices. I am optimistic that the findings of the SAE Index will be a veritable source of information into ICAN-AI.
I also pledge ICAN’s willingness to collaborate with PLS and State audit institutions to
address identified areas for improvement. To this end, I will like to propose the establishment of a Memorandum of Understanding (MOU) between ICAN and SAE on sharing of information and insights on the improvement of PFM in Nigeria. Let me also use this opportunity to invite you to the launch of the next reports of ICAN-Al scheduled for May2024.
Once again, congratulations to PLSI for this valuable initiative. We sincerely hope that this initiative will continue to catalyze positive change, inspire a culture of excellence and accountability, and contribute to the advancement of our subnational entities for the benefit of all citizens and an accountable Nigeria.
Dr Innocent Iweka Okwuosa, FCA
59th President, ICAN
March 14, 2024
