Technology is a tool being adopted in every facet of life, and Accounting is no different. Razak Jaiyeola, the president of the Institute of Chartered Accountants of Nigeria (ICAN), recently expressed that modern accountants should take advantage of emerging technology to perform their roles in accounting more efficiently.

At a news conference during ICAN’s annual accountant’s technology summit in Lagos, Jaiyeola said,

“Accountants must not just appreciate technology, but be very versed in deploying different forms of technology for business survival and growth.”

He explained that the management functions and strategic roles performed by accountants in both public and private sectors should take advantage of technology. He added that technology is a business survival tool that every organisation needs to thrive.

In the digital age, the role of accountants as finance and investment oracles and custodians of data still remains the same, he said. But, according to him, the methods of getting the job done have changed and will likely continue to evolve.

Jaiyeola promised that during the association’s two-day summit next week, avenues will be provided for accountants and other business professionals. They will learn to understand the opportunities available in technology that can help promote their businesses and advance their careers.

He explained that the participants will get a glimpse into the future. This will also show them how to take their careers and businesses into their hands.

The ICAN boss explained the basis of the technology summit. It aimed to show how technology disruptions can be deployed at work. He also explained that the introduction of robotics can be a threat to accounting jobs. However, the reality is that the institute is looking to produce only digital accountants.