Institute Lauds Senate’s Passage of Forensic Audit Bill

Institute Lauds Senate’s Passage of Forensic Audit Bill

The Chartered Institute of Forensic and Investigative Auditors of Nigeria(CIFIA), has commended the National Assembly for the passage of a Bill for an Act establishing the Institute.
The President of CIFIA, Dr. Victoria Enape, made the commendation at a news conference on Thursday in Abuja.

According to her, the passage of the CIFIA Bill, after the third reading on July 5, will pave way for the registration and regulation of the Institute’s membership.

Enape noted that the bill is now awaiting the assent of President Muhammadu Buhari, expressing optimism that presidential assent would not be delayed.

She commended the efforts of Senators Ahmad Lawan(APC-Yobe North), Andy Uba(APC – Anambra) and Sen. Pauler Emmanuel, the Senate Chairman, Committee on Establishment and Public Service, for ensuring passage of the bill by the 8th Senate.
She said CIFIA emerged as an anti-fraud organisation due to the realisation and importance of forensic and investigative audit in fraud prevention and detection.

“The primary domain of forensic and investigative auditing is to work within the investigative process from the scene of financial fraud to court, providing information and evidence.
“CIFIA provides the legal framework for the registration, training, regulation and certification of practitioners in line with global best practices,’’ Enape said.
She said the uniqueness of CIFIA is that membership is not limited to accountants alone, but cuts across professionals from other disciplines like lawyers, criminologists, security experts etc.
Enape said members are trained in “this unique practice of financial fraud prevention, detection and investigation because forensic and investigative audit involve litigation support and court testimonies.’’
She said CIFIA benefits the nation because it will save the Nigerian government the cost of inviting foreign forensic auditors for fraud investigations.

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