New demands in new tax regime: Expert says professional accountants must move from qualification to influence

Most corporate bodies seem to hold their breaths to await advice from their accountants and other professional financial advisors. For, this, Toru Femi Oriyomi, a fellow of many professional bodies and holder of masters’ degree in Law, says professional accountants must move from qualifications to influence.

The expert said this is because the future belongs to adaptive professionals. “Success requires a combination of technical competence, tax expertise, Artificial Intelligence (AI) adoption, strategic advisory skills, and technology integration.”

He went on to depose that professionals who embrace innovation will become indispensable in the emerging digital economy.

Oriyomi with over 20 years in the top echelons of professional accounting as a fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a lawyer of high ranks who is found at the intersection of law and tax, is noted for his zeal in precision, integrity, and sound professionalism.

His profile indicates he has mentored hundreds tax practitioners focusing on tax law, forensic audit, risk anticipation, creating long term value. He is found in cross border operations with proactive approaches, thus being accepted as a high-value resource person.

Read also: Tinubu says tax resistance threatens Nigeria’s development goals

Oriyomi was selected to lead in webinar discussions at the May edition of the ICAN Obio/Akpor District & Society anchored in Port Harcourt organized by Chioma Obianuju Ojukwu, a high flying academic and chartered accountant that leads the District as pioneer chairman.

The dialogue was to plot the pathway on how accounting professionals create measurable client value in Nigeria’s evolving tax landscape.

In his treatise, Oriyomi said the Accounting profession is changing because traditional Accounting roles are evolving, warning that clients now expect strategic advice, tax efficiency, digital solutions, and business growth support. This could be why it is believed that most organisations and corporate bodies now wait for their professional accountants to lead the way in the new tax regime before taking any step. It is believed that transformation has come home to roost.

He mentioned key drivers of transformation as Tax Reform 2025, Rev360, Artificial Intelligence, Automation, and Data analytics. Rev 360 is said to be Nigeria’s official digital tax administration platform launched by the Nigeria Revenue Service (NRS).

It is said to be the upgraded successor to the older TaxPro Max portal. It is designed to promote ‘Tax Administration 3.0’, and the system streamlines the entire tax lifecycle for businesses and individuals.

In this situation, Accounting professionals are seen to have a modern role; from compliance to value creation because the accountant is now expected to be a business partner who is expected to collaborate on strategy and growth. He is a trusted adviser expected to guide critical financial decisions; a compliance expert to navigate regulatory complexity, and a tech integrator who is expected leverage digital tools and AI.

He also said the new accountant is a financial strategist who is to drive long-term value creation; and a risk management professional expected to identify and mitigate threats.

As he pointed out, this is because clients have new expectations, demanding accuracy, speed, compliance assurance, tax savings strategies, real-time insights, forecasting & planning, digital reporting, and professional responsiveness.

In this case, service delivery becomes key but there are key challenges affecting client delivery, according to the barrister. He mentioned delayed service delivery, poor technology adoption, weak communication, compliance risks, data security concerns

Impact, client dissatisfaction, reduced competitiveness, and regulatory exposure.

On value proposition, Oriyomi said the new expectation is about delivering more than compliance, insisting that modern accountants must provide advisory services, strategic tax planning, technology integration, real-time financial intelligence, and business performance insights.

Dwelling on the tax reforms of 2025, he gave an overview of the new tax environment, observing that tax administration is becoming more digitized, more integrated, more data-driven, and is now more aggressive on compliance.

He gave focus areas as expanding tax base, digital compliance, automation, and centralized monitoring. He pointed out what clients expect under tax reform 2025 and what businesses want from tax consultants. These he named as to avoid tax exposure, to navigate digital tax systems, to reduce tax burden legally, to defend against tax audits, and to manage compliance risks.

He said critical tax compliance areas that professionals must understand as data matching by FIRS such as cross-referencing taxpayer data across multiple sources. Others include transfer pricing compliance by ensuring arm’s length pricing in related-party transactions; Withholding tax (WHT) reconciliation by ensuring withholding tax alignment and documentation. Others a PAYE compliance looking at payroll tax obligations and employee reporting; and digital economy taxation with emphasis on new rules for online and technology-driven businesses.

He helped the online audience to understand Rev360, saying it improves revenue collection, taxpayer monitoring, compliance tracking, data integration, and audit intelligence. He gave the benefits as real-time visibility, automated monitoring, and faster detection of irregularities.

The impact on businesses include increased transparency, reduced room for tax evasion, faster audit triggers, and greater scrutiny. The risk indicators were named as inconsistent filings, VAT/WHT irregularities, and unusual revenue movements.

AI reshaping Accounting:

He made it clear that Artificial Intelligence is reshaping accounting, including auditing, tax consultancy, financial analysis, and risk management. “AI will not replace accountants. AI will replace accountants who refuse to use AI.”

Giving practical applications, he named financial analysis, tax computation, audit efficiency, report writing, research support, and client communication.

He gave insights into ethics & AI, saying professionals must ensure professional judgment, ethical standards, confidentiality, and accuracy verification. “AI outputs must always be reviewed professionally.”

On technology & productivity tools, he gave some AI tools as ChatGPT, Microsoft Copilot, Claude, Perplexity AI, Grammarly. He also mentioned Accounting & tax software as QuickBooks, Sage 50, Xero, SAP ERP, Oracle NetSuite. Others are Analytics such as Power BI, and Tableau. For collaboration tools, he mentioned Microsoft Teams, Zoom, Google Workspace, Trello.

He suggested how ICAN can position itself through training strategy. He suggested areas Accounting bodies should look into, such as ‘Market as a “Strategic Tax Survival & Compliance Masterclass for the New Digital Tax Era”. The topics could look at Tax Reform 2025 & Rev360: Practical Compliance Strategies; Beyond Compliance: AI, Tax Technology & the Future of Accounting; Winning in the New Tax Era: Rev360, AI & Digital Compliance Masterclass. He said all professional bodies, entrepreneurs, lawyers, SMEs, Government officers, and others would be interested.

For future readiness, he said professionals must focus on ethics & integrity, continuous learning, cybersecurity, personal branding, and multi-disciplinary practice.

Ojukwu, the ICAN Obio/Akpor & District Society chairman, who is an Accounting lecturer in the University of Port Harcourt, who welcomed the participants, said it was a highly impactful quarterly Luncheon/Webinar, the 5th in the series, titled: ‘Moving from Qualification to Influence: How Accounting Professionals Create Measurable Client Value in Nigeria’s Evolving Tax Landscape’.

She said: “Today’s theme is both timely and thought-provoking. We are gathered at a period when the Accounting profession is undergoing significant transformation, driven by regulatory reforms, technological advancement, changing business realities, and the continuous evolution of Nigeria’s tax system.

“In the past, professional qualification alone was often considered sufficient proof of competence and relevance. Today, however, the expectations are much higher. Clients, businesses, governments, and the society at large are increasingly looking beyond certificates and designations. They now seek professionals who can provide strategic insights, deliver measurable results, solve complex tax challenges, support business sustainability, and create long-term value.”

As accounting professionals, she stated, “We must therefore move deliberately from merely being technically qualified to becoming influential advisors, trusted consultants, policy contributors, and transformational leaders.

This webinar/luncheon is designed to deepen our understanding of these emerging realities and equip us with practical strategies for enhancing professional relevance and client impact. I am confident that the insights to be shared by our distinguished speakers will inspire meaningful conversations and provide actionable knowledge that will strengthen our practices and professional influence.”

Declaring open the webinar, Clifford Ofurum, a professor of Accounting from the Uniport, who was chairman on the occasion, told Accounting professionals to continually upgrade their skills beyond traditional accounting.

He said; “We must embrace data analytics, digital financial systems, taxation technology, artificial intelligence, sustainability reporting, forensic accounting, and strategic advisory services.”

The lecturer said the future belongs to professionals who can combine technical competence with strategic insight and ethical leadership. “We must also remember that public trust remains the greatest capital of our profession. In an environment where corruption, financial mismanagement, and weak accountability continue to undermine development, accountants must stand as ethical gatekeepers and defenders of transparency.

“Our influence should not merely be financial; it must also be moral and societal. To government at all levels, this evolving tax landscape presents both opportunities and responsibilities. Tax reforms must be implemented with fairness, clarity, transparency, and sensitivity to the realities facing businesses and citizens.”

The former deputy vice chancellor said excessive taxation without visible public value can weaken compliance and discourage investment. “Government must therefore strengthen public confidence by ensuring that tax revenues translate into visible infrastructure, improved public services, job creation, and economic stability. Furthermore, the government should continue to collaborate closely with professional accounting bodies such as ICAN in policy formulation, tax administration reforms, public financial management, and financial accountability initiatives.”

Some of the challenges in the new tax regime identified by experts include increasing digitalisation, growing regulatory expectations, revenue pressures on government, and the expanding informal sector. These are said to demand a new generation of accounting professionals who can provide measurable value to clients, organisations, and society at large.