Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria (CIFCFIN) has advised government at all levels and the organized private sector to establish forensic accounting departments. The departments are expected to be independent of existing management but rather report directly to the Governing Board or Board of Directors as the case may be to halt fraud in its track.
CIFCFIN’s Chairman, Professional Training and Standards, Prof. Michael Ayeni made this appeal during the Institute’s 4th direct graduation ceremony, induction and award of Fellowship at EFCC Academy, Abuja, recently. Ayeni said the creation of the Forensic department will act as a first line of defence against occupational fraud to repel the obnoxious activities of treasury looters as a proactive measure rather than the reactive approach of auditors who only show up after the atrocities would have been committed. “Our job as forensic accountants and fraud investigators is to prevent fraud rather than allow it to happen before taking action,” he asserted.
Earlier in his speech, President, Governing Council of the Institute, Dr. Iliyasu Gashinbaki said that the Institute is ready to work with the government at all levels to ensure a holistic forensic review of palliatives as well as distribution mechanism to the poorest of the poor. “I think that will infuse transparency and accountability in the process, and the mistakes and errors and challenges identified will be avoided because this is just the beginning of so many social safety-net interventions introduced by the present government. If we don’t get it right, now, we will perpetually carry over these challenges,” he noted.
In her remarks, CIFCFIN’s council member, Mrs. Alice Urom charged the graduands to exhibit the essence of the rigorous training received in their various agencies and organizations. “I will advise you, don’t hide your identity, stand out from the crowd, and we will jointly be able to correct our corrupt ridden society,” she averred.
CIFCFIN’s 4th direct membership training and Fellowship award, had 273 certified members and 22 Fellows. The next edition comes up in November this year. CIFCFIN became a chartered Institute on December 23, 2022 with assent to its bill by former President Muhammadu Buhari on December 23, 2022. It is thus the first and only chartered forensics body in Nigeria that deals with forensics and fraud investigations.
