ACCA sees more opportunities, and fewer threats in AI development

The Association of Chartered Certified Accountants (ACCA), a global body of professional accountants, says there are more opportunities and fewer threats in Artificial Intelligence (Al) development.

The body of accounting professionals gave this hint at a recognition event held recently in Lagos.

Rashidat Adebisi, chairperson, of the ACCA Nigeria advisory committee, said the body was not seeing AI as a threat but as an opportunity, they were leveraging to enhance their performance and capabilities.

“ACCA has been teaching courses around digital capabilities, working in machine learning as a financial person and how we can use it to help companies and businesses. Hopefully, we are heading to the public sector to teach how it can be used to drive governance in a more transparent way. We see it as an improvement; we have been learning about it and we keep evolving,” Adebisi said

According to her, ACCA always looks at the next step and how they can tap technology innovation like AI and the rest to scale and render effective service delivery.

Haruna Abdullahi, acting executive chairman, of FCT-IRS, who gave the keynote speech at the event, said, “Technology is at the forefront and we see that as accountants; we now have software systems doing accounting work. We are now looking at accountants who will not only look at the numbers but also analyse the numbers to see what they might mean in the near future. AI also is significant in achieving this.”

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Speaking on the impact of association, he said that ACCA had given many young Nigerians global opportunities to interact, and that is helping to change their mindset and the way they operate.

The event, which was held to recognise new fellows of the accounting profession, was also used to encourage future accountants to achieve the necessary requirements that will enable them to be part of the body.

“We are here to recognise our members, we have new members and new fellows and some of our milestone members and encourage more people along the journey to finish their education and join the profession to get the benefits,” Adebisi said.

She said the recognition shows that ACCA was actually developing more capable hands who could help not just the private sector but also support the public sector.

“We have advocates in the public sector. We are doing a few things to support the professionals in the public sector so that they can account better for the financials and the impact of the environment and sustainability.

The profession is constantly evolving. We think ahead and we are creating new ways of learning for our people; new qualifications that are not just about numbers but being a well-rounded individual helping to drive business forward in a more digital age,” she said.

Adebisi also noted that ACCA was not just about being an accountant, but also about being a business person that is financially savvy.