Good standards of auditing, accounting practices in Nigeria, critical, says Dafinone

Central Bank of Nigeria

Central Bank of Nigeria

The Managing Partner of Horwath Dafinone (Chartered Accountants), Chief Igho Dafinone on Friday, said the company intends as part of the development of the firm to focus, with all interested bodies in raising the standard of accounting, tax and economic professional practice in Nigeria.

Dafinone spoke in Lagos at a cocktail party organized for the retired managing partner of the company, Mr. Praveen Bhasin.

Mr Bhasin retired from the practice of accounting after thirty four years of meritorious service in the firm.

He joined the practice on October 2nd, 1979 after qualified as a member of the Institute of Chartered Accountants in England and Wales, having completed his articles with Hays Allan in London.

He was appointed as a partner in 1982 and promoted to the managing partner on March 12th, 1997, a post he held till his retirement date.

To ensure that accounting and auditing practice continues to assist the general business community and the government to make better decisions for the country as a whole it is crucial that the profession rise to the demands to society and those that do not wish to do so realize that times are changing and they risk increasingly stiffer sanctions as people refuse to bear the losses arising from their actions.

He described the ex-managing partner as urbane gentleman and a thorough professional who demanded the highest possible standards of ethics and discipline and will be greatly missed by the company.

Chief Dafinone, a 1980 graduate of University of Manchester and a post graduate of Exeter University, joined the firm in 1987 from Touche Ross & Co. in London and has had 26 years of professional experience.

Over the years, he has been involved as the engagement partner on several change engagements, which have included company restructuring and strategic planning.

Dafinone emphasized the importance of continuous training and retraining of manpower which he attributed to the success of the organization while promising to build on the legacy of his predecessor Mr Praveen Bhasin.

“You are going to see more robust and professional accounting firm in the next few years” he promised.

Earlier in his remarks, the retired managing partner described his thirty four years in the company as not only a journey but an experience worthwhile.

He spoke highly of Nigeria and the people. “You can take a person out of Nigeria but you cannot take Nigeria out of the person”.

Mr Bhasin thanked the Dafinone family and the management of Horwath Dafinone for giving him the opportunity to learn and serve the company for close to 35 years.

Speakers after speakers paid glowing tribute to Chief David Dafinone for his foresight and resilience in the murky environment such as Nigeria.

Chief David Dafinone in remarks on Mr Bhasin stated: “He is humble, easy going and honest”, Senator Dafinone said.

Meanwhile, the company has announced the promotion of Dr. Daphne Dafinone as the Chief Operating Officer.

Dr. D Dafinone, a partner in charge of corporate governance joined the firm in 1990 from KPMG London and has had 24years of professional experience. Over the years, she has been involved as the engagement partner on several change engagements, which have included company restructuring and strategic planning. She specialises in corporate governance consultancy and has core expertise in the publicly quoted companies.

Horwath Dafinone is one of the largest indigenous accounting and consulting firms in Nigeria. The organization assists public and private company clients in reaching their goals through audit, tax, advisory, risk and performance services. With over 100 personnel, the firm serves clients throughout Nigeria and worldwide as an independent member of Crowe Horwath International, one of the largest networks in the world, consisting of more than 140 independent accounting and management consulting firms with offices in more than 400 cities
around the world.

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