md
(2022)
SECTION 1
(1) There is established the Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria (in this Act referred to as “the Institute”).
(2) The Institute –
(a) is a body corporate with perpetual succession;
(b) shall have a common seal which shall be kept in such body as the Council may authorise; and
(c) may sue or be sued in its corporate name.
Establishment of the Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria
SECTION 2
The objectives of the Institute are to –
(a) organise and provide professional training in the specialist areas of forensics and fraud investigation;
(b) professionalie forensics and fraud investigation with a commitment to raising great leaders in all sectors of the economy;
(c) promote art and science in the areas of forensics and fraud investigation;
(d) educate, conduct, and establish approaches to the forensic and fraud investigation practice;
(e) facilitate collaboration between public and private sectors of the economy on forensics and fraud investigation measures;
(f) integrate culture and ethical standards in the specialist areas of forensic and fraud investigation practice;
(g) be a regulatory body for forensics and fraud investigation in Nigeria for its members only;
(h) imbibe professionalism in both the private and public sectors of the economy for efficiency and effectiveness in line with global best practices; and
(i) do such other things that are necessary to promote the advancement of forensic and fraud investigation in both the public and private sectors of the economy.
Objectives
SECTION 3
(1) Subject to the provisions of this Act, a person who shall be admitted into the membership of the Institute shall be any –
(a) qualified accountant practicing within or outside Nigeria who has shown sufficient evidence of his involvement and interest in forensic accounting or fraud prevention;
(b) expert involved in forensic practice and fraud investigation with a recognised institution before the commencement of this Act;
(c) person who has not been convicted of any crime within or outside Nigeria;
(d) person who, subject to this subsection, passes the qualifying examination for membership conducted by the Council under this Act and completes the practical training prescribed.
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