Omolabake Fasogbon

Emerging technologies and global economic shift are placing new demands on the accounting profession, beyond traditional financial reporting. 

Professor of Accounting and Financial Development at Lead City University Ibadan, Godwin Oyedokun, maintained that the profession has stepped up in scope, playing vital role in measuring and assuring sustainability metrics that influence corporate reputation and investment flows. 

Delivering a keynote address at the 7th Accounting and Business Conduct (A.B.C) of the Nigerian Universities Accounting Students’ Association (NUASA), in Lagos State University, recently, Oyedokun reiterated that accounting has evolved from traditional bookkeeping into a tool to catalyze business transformation. 

The event highlighted the importance of accounting and taxation in driving economic resilience, transparency, and sustainability.

Speaking on “The Future of Accounting and Taxation in a Dynamic Global Economy”,  the finance expert emphasised the importance of Environmental, Social, and Governance (ESG) reporting, stating that it has emerged as a critical expectation from investors, regulators, and the broader society.

He explored the disruptive impact of new technologies like artificial intelligence, big data analytics, and blockchain in automating routine accounting functions.

He said, “They also enhance audit quality and enable more strategic and data-driven decision-making. These innovations are not threats, but opportunities for professionals to elevate their roles as trusted advisors and business partners”.

He recognised that with disruption, accountants and tax professionals are expected to cultivate a global mindset and remain vigilant to emerging regulatory environments and cross-border tax complexities. 

“The future of accounting and taxation lies in agility, continuous learning, and ethical leadership, ensuring that the profession remains indispensable to sustainable economic development and public trust.

“As we prepare for the future, one thing remains clear: accounting and taxation will remain pivotal to economic resilience, transparency, and sustainability,” he asserted.