The Institute of Chartered Accountants of Nigeria (ICAN) yesterday charged the newly inducted 879 accounting technicians to move beyond the core roles of accountants to value addition and adherence to integrity in service delivery.

ICAN President, Mrs Queensley Seghosime, gave the charge at the 64th Association of Accounting Technicians West Africa (AATWA) induction in Lagos. She pointed out that professionals now live in an era in which artificial intelligence, automation, data analytics, sustainability reporting and other emerging technologies are reshaping the accountancy profession at an unprecedented pace. According to her, the future belongs to professionals who are technically competent, digitally enabled, adaptable and forward-looking.

Seghosime urged the technicians to seek mentors whose experience can guide decisions, broaden perspective and whose example can inspire them in leadership.

She said: “At the same time, cultivate the discipline of lifelong learning. The most successful professionals are not those who know everything today, but those who remain curious enough to keep learning throughout their careers. I therefore urge you to embrace innovation, continuously develop your skills and position yourselves to lead the transformation of the profession rather than merely respond to it.”

The ICAN President cautioned that technical competence may earn them opportunities, but integrity will sustain the success.

She added: “Let the Association’s Code of Ethics, Constitution and By-Laws remain your constant guide. They embody the principles that have preserved the integrity of this profession for generations. Always remember that membership of ICAN is both a privilege and a responsibility. We Are ICAN means that every one of us is entrusted with protecting the reputation we inherited and strengthening it for those who will come after us.”

Keynote speaker/Chairman and Managing Partner, BBC Professionals, James Obogwu, urged the young professionals to pursue the prestigious chartered accountant designation within the next two years and embrace technology to enhance service and remain relevant.

At a technical session, a past President of the Institute, Dr Rasak Jaiyeola, reminded the professionals that the role of accountants and accounting technicians is no longer limited to recording transactions, preparing schedules, reconciling accounts or producing financial statements, adding that while the functions remain important, the world now expects much more from them.

Speaking on the title: “Beyond Numbers: Using Financial Insights to Drive Business Growth,” he said the real value of financial information lies in the insight it provides, the decisions it supports, the risks it reveals and the opportunities it helps organisations to identify.

“In the past, many people saw accounting as a profession of figures, calculators, ledgers and compliance. Today, the profession has moved beyond that narrow perception. The modern finance professional must understand the business behind the numbers. He or she must be able to explain what the numbers can do, what they are pointing to, where the business is gaining strength, where it is exposed, and what management must do differently.”

He warned that what truly defines a professional is attitude, competence, ethical conduct, continuous learning and the ability to add value wherever one is found.

“If an accountant today is only able to tell management what happened last year, while others are using data analytics, dashboards, artificial intelligence and financial modeling to predict what may happen next year, that accountant is already behind. We are now in an age where businesses need professionals who can convert data into insight, insight into strategy, and strategy into growth.

Organisations of today and tomorrow will need professionals who can ask the right questions. Why is revenue increasing but cash flow declining? Why are costs rising faster than income? Why is profit improving but liquidity weakening? Why is the business expanding but value not growing? These are the types of questions that move us beyond number, “he said.

In a presentation, the Partner, Abiahu Mary-Fidelis & Co. Chartered Accountants, Dr Mary-Fidelis Abiahu, advised the inductees to go beyond being data providers but a strategic partner in helping organisations towards becoming agile and resilient.

He said accounting technicians must embrace financial integrity and offer insights into everything done towards taking executive decisions.
The forum also attracted presentations of subject prizes to winners in ATSWA examination.