.…. Performs Foundation Laying Of HCD Centre
By Ikenna Nwokedi and Jennifer Isidienu
The Department of Accountancy, Nnamdi Azikiwe University, Awka, in collaboration with Oxford International College, Devi Ahilya University Indore, India on Wednesday, September 4th 2024 kick started her two-day Hybrid International Conference and Alumni Convergence at the ASUU NAU Secretariat and also performed the Foundation Stone laying ceremony of the Department’s Human Capital Development Centre.
The 2024 International Conference which was an assemblage of scholars, stakeholders and professionals in the Accounting discipline alongside Alumni members had its theme as “Disruptive Technologies and The Accountancy Profession.”
In his opening remarks, the Chairman of the occasion and Former Rector, Federal Polytechnic Oko, Professor Ugochukwu Nzewi stated that the conference creates a forum for the converge for accounting scholars and practitioners to brainstorm about the profession through insights and revelations on the current trends in conforming with best global benchmarks and practices.
Declaring the event open during her address, the Acting Vice-Chancellor of UNIZIK, Prof. Carol Arinze-Umobi emphasized the relevance of the conference theme, “Disruptive Technologies and the Accountancy Profession”, in today’s era of rapid technological advancements. The Acting Vice-Chancellor explained that disruptive technologies refer to the remarkable progress in digital technology, leading to the emergence of Artificial Intelligence (AI).
Prof. Arinze-Umobi who was ably represented by the Acting Deputy Vice-Chancellor (Academic), Prof. Peter Agbonome highlighted the significant impact of the emergence of AI on data management, storage, retrieval, analysis and swift decision-making. The Acting VC noted that the operations of AI aligns with the core functions of accountancy, which include recording, classifying and reporting business transactions to support informed decision-making.
The Acting VC affirmed that the conference is geared towards exploring the implications of digital technologies on the accountancy profession, examining both opportunities and challenges. Prof. Arinze-Umobi noted that by bringing together experts and professionals, the event seeks to address key questions surrounding the future of accountancy in the digital age.
In his welcome address, The Head, Department of Accountancy, Nnamdi Azikiwe University, Awka, Dr. Nestor Amahalu explained that the conference brings together renowned experts, scholars and practitioners to share insight, experiences and research findings on the impact of disruptive technology on accountancy. The HOD disclosed that through keynote addresses, panel discussions and paper presentations, participants will explore the opportunities and challenges presented by these technologies and strategies for harnessing their potentials.
Dr. Amahalu informed that the Department has achieved a significant milestone with the foundation stone laying ceremony of its Accountancy Human Capital Development Centre. The scholar also said that the centre will serve as a hub for capacity building, skills development and research excellence, empowering students and professionals to thrive in an ever-evolving landscape.
The HOD Accountancy mentioned that the Human Capital Development Centre will be a beacon of innovation and practical learning, equipped with the latest accounting technologies and resources while emphasizing that the centre’s mission will be to equip students with cutting-edge accounting skills, knowledge and preparing them for leadership roles in the dynamic accounting profession.
On his part, the Dean, Faculty of Management Sciences, Professor Pius Okoye described the theme of the conference as apt. Prof. Okoye opined that with the advent of AI, the accounting profession can be enhanced further for more efficient and top notch operations. He pointed out that with the current trends and changes occasioned by AI, the profession can grow in leaps and bounce.
The Keynote Speaker, Dr. Chukwudi Okoli described disruptive technology as deviation from the norm or trying to build up on the existing technology. The Accountant-General of Anambra State opined that disruption have been experienced in all fields of endeavour and is a necessity meant to speed up the society and give accuracy to our daily lives. Okoli also said that a knowledge about ICT is very important for accountants as well as advanced Excel in order for those in the profession to make impact and leap in the profession.
The Lead Paper Presenter, Dr. Chikwelu Mbonu, a visiting Adjunct Scholar and Honorary Adviser to Oxford International College Indore, India, stated that the practice of Accountancy profession has been influenced by different eras of industrial revolution. He highighted the different eras such as the first era on mechanisation (1780), second era on electrification (1870), third era on automation (1970), fourth era on digitalization (2011) and fifth era on personalization (2020).
Dr. Mbonu informed that emerging technologies and shifting consumer needs are bringing rapid changes to traditional accounting altering not only the face of the industry but also delivering new and challenging ways to meet the demands of a new breed of customer. He concluded by saying that automated services are prevalent throughout accounting and financial industries, from tax preparations applications to fraud protection services.
In their separate remarks on the importance of the conference, the Special Guest of Honour, Hon. Anthony Muobike, Member representing Aguata II Constituency at the Anambra State House of Assembly stated that Accountancy Department has done exceptionally well in holding the conference which will definitely impact the growth of the profession and education at large. Muobike inferred that the conference will aid the strengthening of the profession for practitioners in both town and gown while promising to support the department in their quest to take accounting education to the next level.
The Founder and Chairman, Johnbosco Onunkwo Foundation, High Chief Johnbosco Onunkwo who was represented by Barr. Emeka Onunkwo commended the organizers of the conference for the well taught out theme. He promised to support the Department in the building project which will enhance practical learning equipped with the latest accounting technologies.
In a vote of thanks, the LOC Chairman, Prof. Theophilus Okegbe thanked all and sundry for their time in the opening ceremony of the International Conference and promises made towards the Department’s Human Capital Development Centre. Prof. Okegbe informed that the conference will continue on its second day with technical sessions were research findings will be made public with the aim of engaging in academic discussions and fostering collaborations that will shape the future of the profession.
Highlights of the Conference were award presentations, foundation stone laying of the Accountancy Human Capital Development Centre, Alumni Convergence, financial support towards the project and paper presentations.
