By Peter Duru, Makurdi 

The President and Chairman of Council, Association of National Accountants of Nigeria, ANAN, Prof. Benjamin Osisioma has said the ability of professional accountants to detect fraud in financial data is critical to prevention and curbing of corrupt practices in the country. 

Prof. Osisioma spoke Tuesday during the opening of the 7th Session of the 2022 Mandatory Continuing Professional Development, MCPD, Programme of ANAN holding in Makurdi with the theme, “Technology Impact on Accounting Practices.” 

While noting the importance of the MCPD to professional accountants, the President said, “this session will avail you with latest trends in digital accounting in deriving the enormous benefits from the capabilities of computerized accounting systems for increased functionality, improved accuracy, faster processing and better reporting.” 

He said, “with increasing dynamisms in digital technologies, accountants have evolved from being preparers of financial statements to data analysts deploying the proficiencies of new technologies such as Blockchain, Artificial Intelligence (AI), Cloud Computing among other new and emerging technologies in achieving improved efficiency and better decision-making. 

“As professional accountants, your competence in the detection of fraud in financial data is critical to prevention and curbing of corrupt practices which will ensure discipline, process improvement and higher productivity. 

“For continuous monitoring of financial process, internal and external auditors need to be more equipped with data analytical skills and data technologies to efficiently execute their operational functions. 

“This will give you leverage in extracting useful insights from large volumes of datasets in real-time in making evidence-based decisions.” 

Welcoming the participants, the Benue state Branch Chairman of the Association, Austin Ujah who commended Governor Ortom for always supporting the association pledge the sustained contribution of his members “to enhance efficient, economical and effective utilization of resources which will yield good governance.” 

Declaring the programme open, Governor Samuel Ortom who stated that the programme was apt said “participants would no doubt be fully equipped to address the various challenges plaguing the accounting profession within the context of good governance in Nigeria. 

He said since assumption of office in 2015, “I have prioritized issues of accountability and transparency as key pillars of my government and have indeed provided the enabling environment for professionals, Accountants inclusive to practice their profession in line with the code of ethics and according to the provisions of the Law and existing financial instructions without hindrance and interference. 

“This deliberate policy step was to ensure that we achieve value for money and the prudent and efficient management of the meager resources at the disposal of the State Government. 

“My commitment to an accountable and transparent Government remains unwavering and the evidence can be seen in our performance with the implementation of the World Bank State Fiscal Transparency, Accountability and Sustainability Programme.” 

The three day event which drew participants from across the country would feature paper presentations by experts and resources persons.