ICAN Urges Nigerian Accountants to Harness AI and Ethics for Future-Ready Careers

The Institute of Chartered Accountants of Nigeria (ICAN) has called on accounting professionals to embrace technological advancements while maintaining high ethical standards to stay relevant in a rapidly evolving global economy.

The announcement was made during the inaugural ICAN Professorial Chair in Accounting Public Lecture held at the University of Lagos, marking a significant milestone in shaping the future of accounting scholarship and practice. Delivering the keynote address on behalf of ICAN President Professor Mallam Haruna Yahaya, 1st Deputy Vice President Dr. Etofolam Osuji highlighted the transformative impact of innovations such as artificial intelligence, blockchain, data analytics, and robotic process automation on the accounting profession.

Dr. Osuji emphasized that the accountant of the future must go beyond traditional financial reporting to act as a strategic advisor, guiding businesses and public institutions in technology-driven environments. “Ethics, integrity, and professional judgment remain the foundation of trust in financial reporting, even as innovation reshapes our work,” he stated.

The lecture coincided with ICAN’s Diamond Anniversary, celebrating 60 years of service to the accounting profession and Nigeria. Dr. Osuji encouraged universities and professional bodies to continually update curricula to strengthen digital competencies, integrate sustainability principles, and reinforce governance in accounting education.

“Accountants of tomorrow must leverage technology to provide insights, improve efficiency, and uphold ethical standards across all financial practices,” he added.

Professor Olusegun Vincent of Pan-Atlantic University delivered a detailed presentation on the evolving landscape of accounting education and practice. He highlighted challenges facing Nigerian universities, including outdated curricula, limited digital infrastructure, and insufficient exposure to Enterprise Resource Planning platforms and professional accounting software.

Professor Vincent urged accounting educators to incorporate experiential learning methods, including case studies, simulations, and reflective practice, to bridge the gap between theory and real-world application. He stressed that ethical reasoning and professional judgment should be integrated throughout accounting education, not confined to a single course.

The ICAN Professorial Chair lecture reflects renewed collaboration between ICAN and Nigerian universities, aimed at producing ethically grounded and technologically adept accountants capable of competing on a global scale.

ICAN also showcased several initiatives to support academic excellence, including the Annual Academic Conference on Accounting and Finance, PhD and commissioned research grants worth N2.5 million and N500,000 respectively, the International Journal of Contemporary Accounting Issues, and a N1 million Professorial Inaugural Grant. The Institute additionally supports tertiary institutions by donating textbooks, computers, accounting software, and offering scholarships to enhance student learning.

Professor Risikat Dauda, Chair of the ICAN Professorial Chair Board of Trustees and Vice-Chancellor of UNILAG, commended ICAN for its sustained academic partnerships, describing the lecture’s theme, “Embracing the Future: Powering a New Era of Accounting Education and Practice,” as timely and visionary.

Closing the lecture, Dr. Osuji reiterated ICAN’s commitment to fostering a new era of accounting that blends wisdom with innovation, ethics with enterprise, and learning with leadership.

The event underscores the importance of preparing accountants who are not only technically proficient but also capable of ethical decision-making and innovative problem-solving in a rapidly digitizing world.