WHO ARE WE ?
Chartered Institute of Forensic and Investigative Professionals of Nigeria is anti-fraud organization saddled with the responsibility of providing skills to professionals from different fields on the use of science and technology for prevention, detection and investigation of fraud, and also put in place some sophisticated mechanisms to prevent future occurrence.
Our emphasis is on FORENSIC AND INVESTIGATIVE AUDIT and not Forensic Accounting. The whole world has gone digital and now fraudsters now engages digital technologies is perpetrating fraud which has made traditional auditing inadequate.
An Accountant is an Auditor but an Auditor must or may not be an Accountant. A forensic and investigative auditors need knowledge of Accounting to unravel manipulations of Accounting facts and figures in the financial statement prepared by an Accountant. Audit have a separate professional bodies in other parts of the world, therefore, the fact that Financial Accountants have been enjoying monopoly over the years does not means it must continue like that.
It is only a mad man that will continue doing same thing, same way, same method, and same approach year after year and expect different result. This is era of specialization that must be embraced by every right thinking person that mean well for our dear country and the future of our children. We know that change is one of the most difficult things for human being, but it is very important to ensure we return sanity to our system which has been corrupted by fraudulent individuals. We need to embrace CIFIPN for it is the hope of our survival.
- Quality of Evidence
CIFIPN is particularly aimed at ensuring innovative use of the twin skills of forensic and investigative auditing to enhance the prosecutorial competences of prosecutors, police investigators, prosecuting counsels, expert witnesses, Lawyers, Criminologists, Security experts, Cyber specialist, judges etc involved in the gathering and use of evidence needed for prosecution of fraud.
- Collaboration and synergy
CIFIPN aims to promote collaboration between and amongst diverse domestic and international institutions and professional bodies. Note that fraud investigation cut across disciplines and geographical boundaries, so it would be counterproductive to pretend that fraud has geographic or professional boundaries when in actual fact today’s globalized world requires synergy at professional levels in unearthing or securing vital evidence for prosecution of fraud.
- Professionalism and Transparency
CIFIPN aims to entrench a culture of transparency, professionalism, and fairness in the investigation of fraud through the training, certification and professional discipline of persons involved specifically in forensic and investigative auditing in Nigeria
- Independent mindedness in fraud evidence gathering
Most times accountants and others accused of fraud are in fact the same people with first-hand information about the fraud being investigated. The implication of such a situation is that relevant evidence could be concealed, destroyed or compromised to such an extent that only a certified independent minded forensic and investigative auditor will be able to go beyond the façade of accounting reports to prevent, expose, or unearth concealed fraud.
- Reduction in the cost of investigation and failure rate of prosecution
Investigation of fraud is expensive, time consuming, and tedious undertaking which has negatively affected the success rate of fraud cases prosecuted by Nigerian anti- corruption agencies. Hundreds of millions of Naira including scarce foreign exchange is often expended on investigation of fraud cases by the leading anti-graft agencies. As it happened in the wake of the controversial missing $20 Billion at the NNPC and as disclosed recently by Dr Ngozi Okonjo-Iweala , Nigeria’s former Minister of Finance acknowledged in her book , ‘’ Fighting Corruption is Dangerous’’, in 2013, that in a bid to verify and reconcile humongous subsidy claims by private oil marketers put at about $8.4 billion for the year 2011, the Federal Ministry of Finance then under her watch employed the services of forensic auditors/accountants from price water house Coopers to assist the Technical Committee with the work. CIFIPN intends to ensure that investigation becomes time and cost effective by training and certifying indigenous forensic and investigative manpower to address the present shortage of such skills which has necessitated the hiring of expatriate firms.
1. What are the major highlights of the CIFIPN
All aspects of the CIFIPN Bill recently passed by the Nigerian Senate are important but the major highlights of the bill are as follows –
2. Establishment & membership of CIFIPN
The Bill establishes the CIFIPN of Nigeria in clause 1 while the categories of membership are stipulated under clause
- In terms of categories of membership, clause 2 provides for the certification of the following categories of membership: Student Member (SFIP), Associate Member (AFIP), Chartered Member (CFIP), Fellow (FCFIP), and Honorary Member (HFFIP).
To promote Transparency in advanced auditing systems that engender integrity, objectivity and trust in the Nigerian Corporate space through enthronement of an anti-fraud regime that will inspire public confidence by the use of sophisticated mechanisms in fraud prevention.
To provide excellent opportunities at national and international levels to deliver the skills and techniques of forensic and investigative audit for the transparency in advanced audit
OUR CORE MANDATE
Our Core Mandate is to provide forensic audit and investigative skills world-wide, and assist the Federal government of Nigeria in particular to give adequate training to external and internal Auditors in both public and private organisation, to enable them have all it takes to block the loopholes of fraud with the use of technological tools and sophisticated mechanism in order to stop the looting of public funds as it were.
AIMS AND OBJECTIVE OF THE ORGANISATION
- To provide a professional association for forensic auditors/cyber forensic specialists/forensic investigators.
- To develop and improve the technique and practice of forensic auditors/forensic investigators and to promote the study of and provide instruction in forensic audit and investigation field.
- To promote and maintained high standards professional etiquette and conduct.
- To promote a specialized organization for qualified and experienced forensic auditors/forensic investigators and accountancy students and to do all such other things from time to time may be necessary or desirable to maintain and advance the status and interests of the profession.
- To provide an organization of learning for persons desirous of obtaining professional education in the Accounts, Finance, Auditing, Management, forensic Audit, Cyber forensic and allied subject and secure professional status and for that purpose to promote and encourage the study and development of the art and science of these and allied subjects and practice and establish workshop, trusts and organizations having objects similar to those of the organization.
- To design and prescribe a suitable scheme of education and system of examination in the subjects of Accounts, Auditing, Banking, Management, Forensic Law, forensic Audit, Cyber Forensic and computer sciences and allied disciplines for candidates desirous of admission to the membership of the Association and for that purpose to lay down a suitable course of study and scheme of education and organize proper training facilities and make adequate and comprehensive educational arrangements in the academic and practical fields.
- To work for the amelioration and promotion of the education and academic standard of the members and students of the Association in particular and the Accounts, Finance, Banking, Auditing, Management, Forensic Law, Forensic Audit, Cyber Forensic and Computer Science profession in general.
- To work with government organization in ensuring restoration of sanity in Nigeria and globally.
- To render help to the less privileged in the society and wipe away tears from the eyes of the downtrodden, the poor, widow and orphans.
- To be involved in Agriculture, capacity, building, financial education and other activities that can create employment opportunities for the youth in our society that can bring satisfaction to the citizenry.
- To work together with the civil society organization in providing health service to the sick and the aged ones in the society.
- To provide anti-fraud and corruption training globally to restore public confidence in Auditing/Accounting process and reporting in our country
- To provide scholarship opportunity for the children and youth who cannot afford education.
- To provide clean water for the rural dwellers and the under privileged in Nigeria and elsewhere.
- To empower the youth and women in divers’ ways to enable them become useful to themselves and our society at large.
- To provide an organization for professional Forensic Accountants/Auditors with a view to support and advance their educational standard and to frame and establish rules for observation in all matters to their education and training.