Technology is Reinventing Accountancy – ICAN President

ICAN President Dame Onome Adewuyi FCA has assured accountants that new technologies evolving with the fourth industrial revolution would not lead to the death of accounting as a profession because accountants are flexible enough to accept the advancement occasioned by technology.

Delivering the keynote address at the 3rd Southern Zonal Accountants’ Conference in Calabar, Cross River State, last week, Dame Adewuyi said that technology cannot replace human skills such as “Leadership, empathy, creativity, decision-making and judgment”, that accountants acquire in addition to their professional skills, which make them versatile and complete.

However, she warned that finance professionals need to develop and hone competencies and other soft skills that are critical in the digital age.

“They should focus on skills such as communication and client relationship management, sales, managing different kinds of talent, and most importantly, translating real-time data into insights while tapping into their vast experience working across many different kinds of businesses”.

She pointed out that “re-skilling affords accountants the opportunity and unique capability of advising clients on their current and future financial health and growth”.

The 56th President explained that ICAN envisaged and proactively prepared for the merging new normal through conscientious investment in technology and therefore was able to transit most of its service deliveries to virtual platforms during the peak of the coronavirus pandemic.