ICAN promotes tech usage in accounting

The President, Institute of Chartered Accountants of Nigeria, Razak Jaiyeola, has said that accountants in the digital age must be very versed in how to deploy emerging technology to the strategic roles, and management functions they perform in both private organisations and the public sector.

He stated that technology had moved from being a tool for making businesses and jobs efficient to being a tool for business survival.

According to him, in this digital age, the role of accountants as custodians of data, information, finance and investment oracles had not changed, but the methods of achieving the roles had changed and would continue to change.

“Therefore, accountants must not just appreciate technology, but be very versed in deploying different forms of technology for business survival and growth,” he said.

He was quoted as saying this  at a news conference in Lagos, during ICAN’s annual accountants technology summit.

He said the association’s two-day summit scheduled for next week, would provide an avenue for accountants and other business professionals to understand the opportunities that existed in the area of technology for their profession and business.

According to Jaiyeola, participants would have a glimpse into the future and how to take their professional destinies and businesses into their hands.

The ICAN president said, “From time to time, we upgrade depending on emerging technology. These things are heavily embedded in our syllabus. One of the things we are trying to do is we are not limiting ourselves to just theory. This is the basis for this technology summit. We want to know how these technology disruptions can be deployed in today’s work.

“It is not a matter for today, we started in 2008 when we introduced technology competence initiative to our members at that time, and we made it a pre-condition for every accountant that was going for induction to undergo some fundamental basics for this particular technology.”

While commenting on job threat to accountants due to technology introduction, he said, “We are aware that the introduction of robotic will clear out a lot of jobs. The reality on ground is that ICAN is no longer producing analogue accountants. What we produce now are digital accountants. The traditional book keeping and all the rest, these technology disruptions will take care of it.”

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