ICAN Urges Accountants to Strengthen AI Skills, Uphold Ethics

The Institute of Chartered Accountants of Nigeria has called on accounting professionals to deepen their digital competencies while maintaining strong ethical standards as technology continues to reshape financial reporting and business operations.

The call was made at the maiden ICAN Professorial Chair in Accounting Public Lecture held at the University of Lagos as part of activities marking the Institute’s 60th anniversary.

Speaking on behalf of ICAN President, Professor Mallam Haruna Yahaya, the First Deputy Vice President of the Institute, Dr. Etofolam Osuji, said emerging innovations such as artificial intelligence, data analytics, blockchain and process automation are transforming the accounting profession globally. He noted that the modern accountant is expected to be more than a record keeper but a strategic adviser capable of interpreting data for business and public sector decision-making.

He stressed that despite rapid technological advancement, ethics, integrity and professional judgement remain at the core of trust in financial reporting.

“Accountants of tomorrow must be able to leverage technology to improve efficiency and deliver insights while upholding transparency and accountability,” he said.

The lecture featured a presentation by Professor Olusegun Vincent of the Pan-Atlantic University, who highlighted gaps in accounting education, including outdated curricula and limited exposure to enterprise software and real-time digital tools. He called for reforms that incorporate experiential learning, simulations, case studies and continuous professional training.

Vincent also emphasized that ethical reasoning should be embedded across all aspects of accounting education rather than treated as a standalone topic.

The ICAN Professorial Chair initiative is part of the Institute’s broader investment in academic development. According to the Institute, it continues to support research grants, journal publications, provision of textbooks and accounting software, scholarship programmes, and partnerships with universities to improve teaching and professional pathways.

Vice-Chancellor of the University of Lagos and Chair of the Professorial Chair Board of Trustees, Professor Risikat Dauda, commended ICAN for sustaining collaboration that strengthens capacity in the accounting profession.

In his closing remarks, Dr. Osuji reaffirmed the Institute’s commitment to driving a future where accounting blends technological innovation with ethical leadership.