The Institute of Chartered Accountants of Nigeria (ICAN) has charged its 1,113 new fellows to prioritize financial integrity, particularly in economies that demand discipline amid profound changes, economic uncertainties, technological disruption impacting the profession, and shifting global reality.
President's Call to Action
The President of the Institute, Dr. Haruna Yahaya, gave the advice at the 25th fellowship conferment ceremony of ICAN in Lagos. He encouraged the new accounting leaders to bridge the gap between knowledge and impact. Yahaya stated that alignment with global best practices in service delivery and value creation, unwavering commitment to the enduring values of accountability, transparency, honesty, and integrity, and demonstrable value-driven contributions to the growth and advancement of the accountancy profession are not mere checkboxes but the pillars upon which trust is built, and on which the reputation of the profession rests.
He appealed to the fellows to uphold these virtues as standard bearers. He emphasized: "Fellowship is not only a badge of honor; it is also a gateway to value. You must rise to provide clarity where there is confusion, stability where there is volatility, and integrity where there is compromise."
Continuous Learning and Relevance
Yahaya further stressed that the new fellows must be custodians of trust in a world where trust is increasingly scarce. They must remain committed to continuous learning and strive to be continuously relevant by sharpening skills and broadening perspectives to stay ahead of the curve.
Guest Speaker's Insights on AI and Accounting
The Vice Chancellor of Pan-Atlantic University, Prof. Enase Ekonedo, who was the guest of honor, noted that accountants need not worry that Artificial Intelligence (AI) will replace them because AI cannot have courage and cannot feel integrity. She tasked the professionals with being insightful, exercising good judgment, being courageous, and engendering trust.
Ekonedo stressed that professionals must embrace the reality that success in the new world order requires both hard skills in data analytics and soft skills such as leadership, empathy, and creative problem-solving. She said: "We must know how to read the numbers against the context and the culture. But we must also be mindful of subjectivity and gray areas. Accounting is often taught as black and white, but really, in reality, it's lived in the gray. Automation will give us the what. AI will predict when. But it will always be us as accountants who explain the why. Let me remind you that the numbers don't lie, but they certainly do not tell the whole truth."
