The Institute of Chartered Accountants of Nigeria (ICAN) UK and District Society has urged accounting professionals to embrace artificial intelligence (AI) and emerging technologies to improve efficiency, transparency, and sustainability in financial management.
The call was made during the 13th ICAN UK and District Society Conference held in London, where industry leaders, accountants and policymakers discussed how digital tools are reshaping the accounting profession and the broader financial landscape.
Speaking at the conference, ICAN President Haruna Nma Yahaya said artificial intelligence is already transforming the way financial professionals analyse data, detect anomalies and manage risk, but stressed that ethical judgement must remain central to the profession.
“Artificial intelligence is reshaping how we analyse data, detect anomalies and model risk,” Yahaya said. “Yet while AI can process information, it cannot process conscience. Technology must enhance human judgement, not replace it.”
According to him, the accounting profession must ensure that technological transformation is guided by ethical standards and accountability frameworks to maintain public trust in financial reporting.
Chairman of ICAN UK and District Society, Akintayo Ojo, said the profession must move beyond traditional financial reporting and adopt a broader framework that integrates sustainability, social impact and environmental accountability. His words;
“Accountants have traditionally focused on profit and loss, balance sheets and reserves,” Ojo noted. “But the future demands a balance between people, planet and profit, where businesses measure environmental and social impact alongside financial performance.”
Experts at the event also highlighted the growing role of AI in improving financial literacy, automating routine accounting processes and strengthening data management. UK-based academic Chris Imafidon said AI-driven systems can help accountants manage large datasets, enhance financial security and support better decision-making through advanced analytics.
“The time is now for accountants to adapt, innovate and thrive in a rapidly changing financial landscape,” Imafidon said, urging professionals to upskill and future-proof their practices through digital competencies.
Also speaking, Chairman of the Central Association of Nigerians in the UK, Ilyas Maisanda, emphasised that accountants have a key role to play in promoting responsible business practices by integrating sustainability metrics and ethical governance into financial reporting.
Participants at the conference noted that as artificial intelligence continues to reshape global finance, accountants must take the lead in deploying the technology responsibly while maintaining professional integrity and public accountability.
The conference also explored how stronger adoption of AI could help modernise Nigeria’s financial systems, improve transparency in tax administration and support the country’s transition to a more formal and data-driven economy.
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