Embrace technological innovations – ANAN charges members

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The Association of National Accountants of Nigeria (ANAN) has charged experts in the accounting profession to avail themselves of technological innovations that can make them abreast of their duty in the 21st century.

The association also tasked its members to adhere strictly to the tenets of the profession and eschew conducts that could bring the profession to disrepute.

ANAN President and Chairman of Council, Dr. James Ekerare Neminebor gave the charge while addressing the professionals at the 1st session of the 2024 Mandatory Continuing Professional Development, MCPD programme.

The theme of the three days event held which started on Monday February 19 to 21 in Lokoja, Kogi capital is “Technology Innovation in Accounting and Internal Control.”

Dr. Neminebor said being acquainted with evolving technology and innovations will add value to themselves and the profession.

He reminded them that the training is to improve the practice of accounting in the country hence the need for them to always take advantage to sharpen their skills for effective service delivery.

“The world is buzzing with new technologies. Organizations are adapting new business strategies and models as new players capture parts of traditional value chains. Much focus has been on the growth benefits of technological innovation, but risk and control functions also require immense professional analysis.

“For instance, the software bots of Robotic Process automation (RPA) can run certain processes and control activities with greater reliability while the Natural Language Processing (NLP) algorithms in Artificial intelligence (AI) can scan large text documents and check for values, accuracy and consistency with other documents.

“The use of these technologies will create more data, raising concerns around cyber and information security risks, as well as fair, ethical and permissable use of data. Internal controls will impact multiple stakeholders. Technology will impact how management and other lines of defence operates.

“In conclusion, I wish to enjoin you that there is no turning back on the use of technology and those who do not invest in digitalization will not develop. Government, people and companies who use Technology will be smarter than those who do not. Future digital transactions will be largely driven by AI, Blockchain and data analytics. Good governmental and organizational leadership will be critical to guide this journey successfully.’

Also speaking, the Chief Executive Officer, ANAN, Dr. Kayode Fasua noted that the essence of the training was to equip members and keep them abreast with the trend in the accounting profession, urging them to take the training serious, “Let us carry forward the knowledge and insights gained from this workshop and continue to strive for excellence in our professional endeavours. Together will can create a brighter future for the accounting profession in Nigeria.”

However, the State Governor, Ahmed Usman Ododo who was represented by the State Head of Service, Elijah Adeiza Evinemi commended the efforts of the professionals in all spheres of life and reiterated the commitment of the State government to ensure that ANAN get a befiting secretariat in the state.

Earlier, the Chairman, ANAN Kogi branch, Ahmed Tijani Oricha commended the efforts of all stakeholders in having a memorable event, begged the state government to lend her supports in ensuring that the age -Long dream of getting a befiting secretariat for the branch is actualized.

Papers presented at the event include Blockchain Technology in Accounting: Prospect and Challenges by Dr. Mrs For Nkechi Theresa; Impact of Cloud Accounting Systems on Financial Reporting by Prof. Aliyu Sulaiman Kantudu; Cyber security and Data Protection in Accounting: Best Practices by Prof. Fatima Alfa Tahir; Debt Management and Risk Mitigation in Public Finance by Dr. Abiola Bukila and ESg Integration: The Role of Accountants by Dr. Abdullahi Yau.

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