ICAN harps on technological skills to enhance finance management

.Elects Davidson Alaribe as new President

The Institute of Chartered Accountants of Nigeria (ICAN) has tasked professional accountants to prioritise the development of technological skills to enhance transparency, accountability, and prudent management of public finance.

The new President of the Institute, Davidson Alaribe, who gave the charge, yesterday, during his investiture as the 60th President of ICAN in Lagos, said that as professionals continue to witness unprecedented technological disruption with an overarching impact on the way businesses are conducted, there are implications for the skills expected of them in the present age.

He said ICAN would consciously increase investment in state-of-the-art Information Technologies (ITs) to enhance the services to members, students, members of staff, and other stakeholders, as well as revisit its technological architecture to create an Institute that constantly and effectively adds value to members and stakeholders through cutting-edge Information Technologies.

Alaribe also said that the Institute would create a technical committee on Artificial Intelligence (AI), which will be saddled with the responsibility of regularly informing members on the potential of AI for chartered accountants and how the technology can be leveraged for improved and efficient services to society.

He, however, pledged to rigorously pursue the establishment of ICAN University to serve as the best-in-class institution for research and innovation in accounting, finance, and management disciplines, deepen capacity development of members and mentorship for young professionals.

In his valedictory address, the immediate past President, Dr lnnocent Okwuosa, said the Institute was able to make its voice heard on government’s economic policies by engaging actively with the media on the policies and the right way to go.

He said lCAN also pursued the public interest mandate of promoting accountability and transparency in the management of public finance through the lCAN Accountability lndex, introduction of Corporate Reporting Award in the private sector, improved professionalism by introducing practice monitoring, checking quacks, as well as the publication of a list of members in practice.

Okwuosa disclosed that the institute also pursued the lCAN act amendment act, which has passed through both first and second reading at the national assembly, adding that it has been sent to the establishment sub-committee, which will conduct the public hearing.

General Overseer of The Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, who spoke via Zoom, expressed joy that Alaribe is the 60th President of the lnstitute. He prayed for him to succeed in his endeavours.