The Institute of Chartered Accountants of Nigeria, ICAN has submitted a proposal for the adjustment of the Curriculum for Accounting Studies at the tertiary level to the National Universities Commission and the National Board for Technical Education for approval.
This was disclosed by the President of the Institute of Chartered Accountants of Nigeria – Dame Onome Joy Adewuye at the 50th conference of the Institute of Chartered Accountants of Nigeria held in Abuja.
She said, ICAN adjusted a new curriculum for accounting studies at the tertiary level which had been resubmitted to the National University Commission and the National Board for Technical Education for approval while that of secondary schools had also been upgraded in line with the 4th industrial revolution which would lead to disruption of accounting practices and loss of traditional jobs
The Institute charged other stakeholders including the Government to do same for Technical Colleges and Vocational Institutions to rekindle the flame of entrepreneurship in our youths.
“ICAN specifically made efforts to attract young accountants to this conference to help them understand the positive impact of technology disruption on their profession.”
The Federal Government on its part urged ICAN and other professional groups to prioritize its capacity development along the trend of digitization. President Muhammadu Buhari gave the advice in a message to the 50th conference of the Institute of Chartered Accountants of Nigeria held in Abuja.
The Gathering of Accountants from across the country and beyond presented an ideal opportunity to brainstorm on issues of economic importance from the stand point of the profession.
This year the conference focused on the 4th industrial revolution brought about by fast growing digitization and rolled forward even faster by the Covid 19 Pandemic. President Buhari who was represented by the Minister of Finance Hajiya Zainab Ahmed said the world is at the brick of a revolution as it is already changing the way things are done.
She said as in previous industrial revolution, the fourth industrial revolution would lead to disruption and loss of traditional jobs but will also offer vast opportunities to those who join the train. For Accountants, relevance to National Development would be based on the ability to learn digital skills and improve on capacity development.
“Despite that some careers would be lost, professions destroyed and accounting and auditing services made redundant by new technologies, there are unaccountable opportunities for those with knowledge of the new world order triggered by digital technologies. The fourth Industrial Revolution offers huge potentials which are unlimited.”
In a remark the President of the Institute of Chartered Accountants of Nigeria Dame Onome Joy Adewuye said the Institute of Chartered Accountants of Nigeria decided to focus on the forth industrial Revolution and its impact on the accounting profession to enable members braze up for the challenge.
Dame Joy said Government must however work towards reducing the ICT infrastructure deficit in the country to enable it take advantage of the digital revolution.
The three day Hybrid conference featured sections on taxation in a digital economy, entrepreneurship as well as accountancy and the future of work.