ANAN harps on adoption of technological innovation as panacea for organisation growth

The president of the National Accountant of Nigeria (ANAN) ,Dr James Ekerare Neminebor said application of new technologies, including Mandatory Continuing Professional Development (MCPD) keeps organisations in both private and public sectors afloat, in the prevailing global harsh business climate . The president of ANAN disclosed this in Lokoja during the 1st session of 2024 […]

The president of the National Accountant of Nigeria (ANAN) ,Dr James Ekerare Neminebor said application of new technologies, including Mandatory Continuing Professional Development (MCPD) keeps organisations in both private and public sectors afloat, in the prevailing global harsh business climate .

The president of ANAN disclosed this in Lokoja during the 1st session of 2024 MCPD training programme which took place between Monday 19th to 21st February 2024 in the state capital.

He said the changing global trend had made the association to impact members with the new innovation technology via MCPD in order to contribute and enhance dividend of democracy.

He said the 2024 MCPD training, with the theme :”Technology Innovation in Accounting and Internal Controls” is aimed at acquainting the members with the latest trends in accounting principles which focused on internal control .

He said: “Those who do not invest in digitization will not develop . Governments, people and companies who use technology will be smarter than those who do not.

“Future digital transactions will be largely driven by AI , Blockchain and data analytics. Good governmental and organisational leadership will be critical to guide this journey successfully”, he said .

He added that in the new digital age, “data governance and control culture will become more important as more controls become embedded in automated system”.

However, he stressed that increasingly, organisations are using data intelligence to provide transparency and visibility into key accountability indicators and tracking these quantitatively, to enthrone transparency and appropriate controls, delegation and problem management.

In his remarks, the state governor, Usman Ahmed Ododo said the training is timely, since it’s aimed at improving the skills of accountants who are driving force in the economy, in both public and private sectors.

The governor who was represented by the state Head of service , Elijah Adeiza Eninemi said the training will no doubt refresh the members to improve their efficiency in different organizations, which in turn will better the society at large .

Earlier, the state chairman of the ANAN , Tijani Ahmed of Oritcha said the training is apt in view of the digital revolution and dynamics that continue to permeate the accounting and business landscape with attendant impacts on lives and livelihoods.

However, a resource person, Dr Ofor Nkechi Theresa who delivered lecture on Blockchain Technology in Accounting prospect and challenges enjoined organisations to key into this new accounting principle, where its transactions cannot be manipulated or invalidated, if adopted.