Business News of Wednesday, 4 June 2025

Source: www.punchng.com

ICAN new president pledges tech reforms

Institute of Chartered Accountants of Nigeria Institute of Chartered Accountants of Nigeria

The new president of the Institute of Chartered Accountants of Nigeria, Haruna Yahaya, has pledged digital transformation, global certification pathways, and youth empowerment as part of his 10-point agenda while in office.

Yahaya made this revelation on Tuesday during his acceptance speech as the 61st president of ICAN.

He succeeded Davidson Alaribe, who was the 60th president of the Institute.

He said, “The world is racing forward on the wings of digital innovation—and we must not be left behind. In today’s fast-evolving landscape, digital transformation is no longer a strategic option; it is an existential imperative. Just as commerce, education, and communication have undergone sweeping digital revolutions, so too must the certification process that moulds the Chartered Accountants of tomorrow. During this presidential year, we are embarking on a bold and forward-looking journey to fully digitise the ICAN examination process. This transformation will be executed in carefully designed phases, beginning from the November 2025 Diet.”

To boost the institute’s appeal to younger Nigerians, Yahaya said that during his time in office, ICAN would be empowering Gen Zs via volunteer opportunities, leadership roles, and youth-led panels at conferences.

“In this presidential year, we will position ICAN as a tech-forward, purpose-driven, and inclusive institute, where professionalism meets innovation and legacy meets lived experience. We will adopt a digital-first approach in our communication, student support, and content delivery – using platforms and styles that resonate with the rhythm of the new generation,” he affirmed.

Additionally, Yahaya said that he was going to be working to ensure that members are equipped not only to survive but to thrive and to lead.

“This year, we shall revitalise the Continual Professional Development by offering modules on emerging trends in the accounting profession such as technology adoption, changing work environment, cybersecurity and risk management, sustainability and climate change, talent acquisition and retention, data analytics, etc. We are not just offering courses – we are building capacity for future-ready leadership. We will also forge strategic partnerships with employers across industries, public and private, to bridge the gap between learning and earning, between certification and contribution. These alliances will provide direct pipelines to opportunity through internships, job placements, mentorship, and project-based engagements,” he said.

Yahaya said that under his leadership, ICAN would deepen its global recognition through stronger Mutual Recognition Agreements with leading professional accountancy organisations and actively pursue joint certification programmes in partnership with globally respected bodies.

He said, “Together, we shall co-develop specialised certifications in high-demand areas such as forensic accounting, sustainability reporting and assurance, and digital transformation, ensuring that our members are not only professionally grounded but globally competitive. These pathways will offer ICAN members dual advantages: world-class credentials and access to international opportunities, not as job seekers, but as solution providers.”

On how ICAN intends to play in the Nigerian economy, Yahaya affirmed that ICAN must be the custodian of trust, which he described as the most valuable currency in any economy. He said that ICAN would aim to become a strong pillar for regulators and leverage its technical expertise, nationwide presence, and the credibility of its members to actively support Nigeria’s journey toward the fight against corruption, transparency, good governance, and institutional accountability.

“This year, we shall strengthen ICAN’s role as a trusted ally to regulatory bodies, not merely as a watchdog but as a collaborative partner in raising standards across both public and private sectors. Our strategy includes advocating stronger professional standards in audit, assurance, and financial reporting. Providing technical assistance and capacity building to regulators and public institutions. Promoting forensic accounting and risk management certification as tools for anti-corruption and fraud prevention and participating in national dialogue on regulatory reform to ensure robust and practical compliance frameworks,” he said.

Yahaya concluded his speech with a call to action to the members and council, saying, “This is the hour to reimagine and rebuild an ICAN that speaks to the aspirations of a new era, an institute that is more inclusive, more innovative, and more influential. We must defend the values that brought us here, deepen the impact we are known for, and deliver a legacy that will inspire generations long after us, one that is globally relevant, nationally impactful, and generationally empowering.”

Present at the event were the Governor of Lagos State, Babajide Sanwo-Olu, who was represented by the Commissioner for Finance, Abayomi Oluyomi; the Deputy Governor of Jigawa State, Aminu Usman; the Attorney-General of Jigawa State, Abdulqadir Fanini; the Executive Secretary of the Financial Reporting Council of Nigeria, Dr Rabiu Olowo; the president of the Association of National Accountants of Nigeria, Zuwaira Kishimi; the president of the Chartered Institute of Bankers of Nigeria, Professor Pius Olanrewaju; and others.