‘Accountants Must Adapt to Technology, Governance Changes’

A Fellow of the Institute of Chartered Accountants of Nigeria and Chairman of the ICAN Oluyole and District Society, Ibadan, Dr Olawale Dopemu, has urged accounting professionals to remain informed, adaptable and proactive as the profession continues to evolve.

Dopemu made the call at the unveiling of the district society’s maiden newsletter, “ICAN Oluyole Insight,” in Ibadan on Saturday. He said the accounting profession was changing rapidly due to technological advancement, evolving regulations, sustainability reporting, corporate governance reforms, artificial intelligence, and rising stakeholder expectations.

“The accounting profession continues to evolve rapidly in response to technological advancement, changing regulations, sustainability reporting, corporate governance reforms, artificial intelligence, and the growing expectations of stakeholders. As professionals, we must remain informed, adaptable, and proactive,” Dopemu said.

He explained that “ICAN Oluyole Insight” was created to serve as a platform for communicating, analysing, and discussing developments within the profession.

According to him, the choice of the name reflected the publication’s objective of promoting understanding, foresight, informed decision-making, and other qualities associated with the accounting profession.

“We envision this newsletter becoming a valuable reference for practitioners, academics, students, regulators, business leaders, and other stakeholders who seek credible perspectives on accounting, taxation, auditing, finance, governance, and economic development,” Dopemu said.

He commended the editorial team, the newsletter committee, executive members, sponsors and others who contributed to the publication’s launch. He also encouraged members to support the initiative by contributing articles, sharing ideas, celebrating professional achievements, and promoting the sustainability of the publication.

In his keynote address on professional communication and knowledge sharing within ICAN, Governing Council member and Patron of the district, Olaitan Babatunde, described the initiative as significant.

He said professional institutions require effective communication, continuous knowledge sharing, preservation of institutional history, and regular engagement with members. According to him, communication goes beyond information dissemination to building trust, promoting understanding, shaping perceptions, and encouraging participation.

“When communication is weak, members become disconnected. Rumours may replace facts, assumptions may replace clarity, and even good initiatives may not receive the recognition or support they deserve,” Babatunde said.

Speaking on the objectives of the newsletter, Chairman of the District’s Publications and Editorial Committee, Dr Oluwatosin Adesina, said the publication was designed to document the district’s activities, decisions and milestones while keeping members informed about developments affecting the profession.

He added that the newsletter would also provide technical knowledge, professional guidance and thought leadership, celebrate members’ achievements and highlight contributions from younger professionals. According to Adesina, the accounting profession has become increasingly dynamic.

“Before now, everybody will always be looking at debit and credit. And so an accountant was labelled as a professional who, after recording transactions, proceeded to do the balance sheet and the financial statement, and that is where it ends. But what we see nowadays is that after the financial statement, your work as an accountant starts.

“We now see the dynamics of what the accounting profession is bringing on board. Before now, we didn’thave forensic accounting, sustainability accounting, human resource accounting, and all of these things are filtering into the accounting profession such that when you say you’re an accountant, you do not see your job as just to prepare a financial statement, far from it.

“We have a whole lot of software that can produce that in a couple of minutes or even seconds by just hitting the buttons and it produces parts that would have taken periods to bring together. But after you have produced a financial statement, that is when your work as a strategist and as an accountant starts. So you look at the implications of what the result is saying, the way forward. What are the prospects and the whole lot?

“So the accountant’s work has gone beyond the static profession that we used to know into a dynamic one which cuts across every area of life,” Adesina said.

Among the dignitaries at the event were the Chairman of ICAN Ogba/Ojodu and District Society, Dr. Olalekan Osinowo, members of the district, and other invited guests.