ICAN URGES ACCOUNTANTS TO EMBRACE EVOLVING TRENDS FOR GLOBAL RELEVANCE
24-02-25
By Sadiq Aminu The Institute of Chartered Accountants of Nigeria (ICAN) has called on accountants to stay updated with emerging trends in the profession to align with global best practices.
ICAN President, Davidson Alaribe, made this appeal in a message delivered at the 2025 Annual Dinner and Award Night of the ICAN Nyanya-Mararaba District Society in Abuja. Represented by the district coordinator, Dr. Sheriff Sani, Mr.
Alaribe emphasized that evolving tax laws and accounting dynamics necessitate continuous learning for professionals to maintain their relevance.
Dr. Sani noted that with the integration of new realities in taxation and financial reporting, accountants must continually update their knowledge to navigate industry changes effectively.
In a keynote lecture titled Managing Tax Risks: Strategies for Mitigation and Compliance, A Deputy Director with the Federal Inland Revenue Service FIRS Dr. Salisu Sa’ad underscored the importance of understanding Nigeria’s legal and regulatory tax frameworks to minimize tax risks and disputes.
Dr. Sa’ad identified key causes of tax disputes, including tax evasion, avoidance, incorrect tax assessments, and issues related to value-added tax (VAT). He stressed the need for professionals to uphold ethical standards, fostering trust and confidence in Nigeria’s tax system.
The ICAN Nyanya-Mararaba District Chairman, Mrs. Onilede Oluwafunmilayo, stated that the lecture aimed to keep financial experts informed on regulatory changes, enabling them to serve the public effectively while maintaining professional discipline.
The event’s highlight was the presentation of awards to distinguished professionals for their outstanding contributions.
Among the honorees was Mallam Musa Bako, Director of Finance and Accounts, who was recognized as a patron of the district. Additionally, Mr. Akeem Ademola, a former district chairman and staff member of the Federal Radio Corporation of Nigeria (FRCN) Finance and Accounts Department, was also celebrated for his exemplary service.
The Annual Dinner and Award Night served as a platform to honor excellence in the accounting profession while reinforcing the need for continuous professional development.