Section 1: Establishment of the Association of National Accountants of Nigeria, etc

(1) There is hereby established a body to be known as the Association of National Accountants of Nigeria (in this Act referred to as "the Association") which shall be a body corporate under that name and be charged with the general duty of-
(a) advancing the science of accountancy (in this Act referred to as "the profession");
(b) determining the standards of knowledge and skill to be attained by persons seeking to become registered members of the profession and reviewing those standards, from time to time as circumstances may require;
(c) promoting the highest standard of competence, practice and conduct among the members of the profession;
(d) securing, in accordance with the provisions of this Act, the establishment and maintenance of a register of members of the profession and the publication, from time to time, of lists of those persons;
(e) doing such things as may advance and promote the advancement of the profession of accountancy in both the public and private sector of the economy; and
(f) performing, through the Council established under section 3 of this Act, the functions conferred on it by this Act.
(2) The Association shall have perpetual succession and a common seal which shall be kept in such custody as the Council established under section 3 of this Act may from time to time authorise.