According to leading accounting experts, Artificial intelligence (AI) and disruptive technologies are set to play a transformative role in the future of accounting in Nigeria.
Professors and practitioners who gathered at an international conference held at Chukwuemeka Odumegwu Ojukwu University (COOU) in Anambra State over the weekend to discuss the impact of AI on accounting education and practice.
The event, which brought together accountants, researchers, and educators, was themed “Artificial Intelligence and Disruptive Innovation/Technologies: A Curriculum Change in Accounting Education and Practice.”
While speaking, Prof. Meshack Ifurueze, the Head of Research at the COOU Centre of the Association of National Accountants of Nigeria (ANAN), emphasized the importance of embracing AI and disruptive technologies to enhance productivity and efficiency in accounting.
He urged accounting professionals and students to stay ahead of the curve by integrating these innovations into their practices and academic curriculums, while also pointing out that AI has immense potential to revolutionize accounting research, education, and development in Nigeria, offering both opportunities and challenges for the profession.
“The potential of artificial intelligence in accounting cannot be overstated,” Ifurueze remarked.
“It is crucial for accounting researchers, educators, and students to incorporate AI and disruptive innovation into the curriculum to keep up with global trends.
If the accounting profession does not embrace these changes, it risks falling behind and losing relevance in an increasingly tech-driven world.”
The three-day conference highlighted the urgent need for an overhaul of accounting education in Nigeria.
According to Ifurueze, this evolution is necessary for future accountants to remain competitive in a rapidly changing market.
He also stressed that AI has already become an integral part of the accounting field, and failure to adapt would leave accounting professionals ill-prepared for the demands of modern practice.
Ifurueze reminded attendees of the significant strides made by the ANAN research centre under the leadership of Prof. Benjamin Osisioma, the former president of the association, who was instrumental in establishing the research centre at COOU.
He further noted that the centre has been at the forefront of workshops and training aimed at equipping both staff and students with the necessary skills for navigating the evolving landscape of accounting practice.
Prof. Emma Okoye, a lecturer at Nnamdi Azikiwe University, also addressed the gathering, stressing the global shift towards AI and its importance for corporate organizations worldwide.
Okoye highlighted that incorporating AI and disruptive technologies into the accounting curriculum is no longer optional; it is vital for preparing future professionals to thrive in a digital-first economy.
He pointed out that traditional methods of accounting education would leave students unprepared for the modern challenges they will face in the workforce.
“Corporate organizations globally are embracing AI and disruptive technologies, and so must accounting institutions,” Okoye said. “It is imperative that accounting educators evolve the curriculum to include the tools and technologies that are shaping the future of the profession.”
The conference explored various AI technologies already making an impact on accounting practices, including lending machines, natural language processing (NLP), and genetic algorithms.
These innovations are increasingly being used to streamline financial analysis, improve accuracy, and enhance decision-making capabilities as AI continues to develop, accounting professionals must adapt to incorporate these technologies into their daily operations.
