By Olusegun Obisanya
The Institute of Chartered Accountants of Nigeria (ICAN) has elected new President, Davidson Stephen Alaribe. He is the Institute’s 60th president; he took over from the immediate past ICAN president, Innocent Okwuosa.
The investiture of Alaribe took place on Monday at the ICAN’s head office, Victoria Island, Lagos.
In his acceptance speech, Alaribe declared that his presidency will vigorously pursue agenda he simply codified in an acronym, “DIAMOND”.
Having chosen the theme, “It is therefore with humility, a profound sense of responsibility, and a determination to continue to serve selflessly that I graciously accept my election as the 60th President and flag bearer of the accountancy profession in Nigeria, as pioneered and represented by the Institute of Chartered Accountants of Nigeria, for the 2024/2025 Presidential Year.”
Upholding ICAN’s legacies,” the president maintained that his Presidential year will be marked by teamwork with the Council, Body of Past Presidents, District Societies, entire Members, Management and Staff, and all stakeholders.
ICAN President said: “In this regard, we will pursue the agenda that we have codified in the acronym DIAMOND. We will create a technical committee on Artificial Intelligence (AI) which will be saddled with the responsibility of regularly informing members on the potential of AI for Chartered Accountants and how this technology can be leveraged for improved and efficient services to society.
“We will ensure that ICAN remains at the frontier of accounting and finance knowledge, proactively contributing to the national imperative for sustainable and inclusive growth.”
According to him, part of his aspirations in the 2024/25 presidential year is to heighten advocacy, collaboration, and communication with the stakeholders of the Institute. He added that his presidency will seek to attract young talents to the profession.
He added, “A major challenge facing the profession across the world is the need to attract and retain more young talents. According to the International Federation of Accountants (IFAC), the global pipeline for professional accountants has decreased as fewer students globally are pursuing degrees in accounting, while an increasing number of accountants are leaving the profession, including public sector accounting, to work in other fields.”
