It was a night of plaudits for the Lagos and District Society of the Institute of Chartered Accountants of Nigeria (ICAN) as they emerged tops at the 50th Annual Accountants Conference.
The ICAN Lagos and District Society won the Best Performance Award at the 2021 ICAN Annual District Parade held on Tuesday, April 6, 2021, at Ladi Kwali Hall, Sheraton Hotel, Abuja.
The Conference, with the theme “Boom! To the Accounting Profession. Information Technology, Opportunities in the 4th Industrial Revolution”, which had plenaries and workshops, took place from Tuesday to Wednesday, April 5 to 6, 2021 at Abuja International Conference Centre.
The ICAN Lagos and District Society, which is one of the grassroots arms of the Institute and acts as an interface between the members working or living on Lagos Island, Ikoyi, Victoria Island, Lekki, and Ajah, has Constance Nwokejiobi, ACA, as its Chairman.
Nwokejiobi, who is also the Director General of the Bonny Chamber of Commerce, Industry, Mines and Agriculture (BOCCIMA), emerged the third woman and youngest female Chairman of the ICAN Lagos and District Society.
In a telephone interview with Kristina Reports, the ICAN Lagos and District Society Chairman explained that “it was a superb stage performance wherein we acted the emerging changes from the 1st to 4th Revolution of the Accounting profession”.
“The 1st Industrial Revolution was in the 18th Century. They used water and steam power for mechanized production. So did we in the Accounting profession use pencils, pen and papers.”
“The 2nd Industrial Revolution was at the end of the 19th Century. They used electric power to create mass production. So did we in the Accounting profession use adding machines, calculators and Extended Trial Balance.”
“The 3rd Industrial Revolution was at the 20th Century. They used electronics and Information Technology to automate production. This gave rise to the digital world. So did we in the Accounting profession use computer desktops and software.”
The 4th Industrial Revolution built on the 3rd, digital revolution. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital and biological spheres. Thus in the accounting profession we use Laptops, cloud accounting systems, artificial intelligence, robotics, Big Data and Analytics, quantum computing, Block chain technology and other technologies.
“Let us remember the past with gratitude, live the present with enthusiasm and look forward to the future with confidence according to Pope John Paul II. Here comes the 4th generation compliant accountants.”
The ICAN Annual Accountants Conference is a yearly convergence of Accountants across Nigeria to review developments in the sector, cross-pollinate ideas on emerging issues and engage in agenda setting for the next financial year.
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