Exclusive:Accounting Profession Still Holds Prestige Despite Youth Apathy – Chartered Accountant
By Exponent News Akure, Nigeria .
Amid growing concerns from young Nigerians about the perceived challenges in the accounting profession, a seasoned chartered accountant, Sir Ologun has reaffirmed the integrity and prestige of the profession, urging aspiring professionals not to be discouraged.
“Accounting Is a Noble Profession Rooted in Integrity”
Responding to concerns about the difficulty of the accounting path, Ologun emphasized that the profession demands hard work and dedication but remains one of the most respected fields in society.
“The profession is a noble one. Like the motto of ICAN – accuracy and integrity – if you want to live by it, you must be hardworking,” Ologun said.
“People should not run away from the profession. Rather, they are encouraged to join it.”
Multiple Professional Bodies Creating Confusion in the Industry
Ologun identified the proliferation of accounting professional bodies in Nigeria as a key challenge. He noted that while ICAN remains the gold standard, other associations have emerged, sometimes leading to diluted professional standards.
“In the past, we only had ICAN. Now there’s ANA, the Institute of Cost Management Accountants, and others,” he explained.
“Yet, ICAN members are still regarded as the best, due to the rigorous training and examinations.”
He questioned the legitimacy of some newly formed bodies, challenging their processes of recognition and accountability.
On Corruption Allegations Against Accountants
When asked about allegations that some accountants in Ondo State civil service are complicit in corruption within ministries and agencies, Ologun refrained from drawing conclusions.
“I have not seen any accountant being disciplined in line with the civil service rules,” he said.
“Until then, we cannot outrightly accuse them of corruption.”
Mixed Assessment of Ondo State Government’s Performance
Ologun expressed caution in evaluating the performance of the Ondo State government, especially in capital projects, education, and agriculture. He called for transparency in financial records.
“We cannot truly assess until we know how much revenue that is coming in and how much is being spent,” he said.
“Although some projects are ongoing, many have been abandoned – especially roads.”
Ceding of Ondo State University Medical Facilities to FG: A Strategic Move
He addressed the recent transfer of the Ondo State University of Medical Sciences Teaching Hospital to the Federal Government, describing it as a fiscally responsible move.
“The state is making some savings, as the federal government will now handle staff salaries and maintenance,” he noted.
“We hope the funds saved will be reinvested into other areas of the health sector.”
Ondo State Chosen as Southwest ICAN Conference Hub
Ologun revealed that ICAN is in active dialogue with the Ondo State government to establish a regional conference center, as part of efforts to decentralize the institute’s activities across six geopolitical zones.
“For the southwest, Ondo State has been chosen, and discussions with the government have been positive,” he stated.
Call for Government to Engage Professional Bodies
Conclusion, Ologun urged the government to involve all professional bodies in policy and development planning, including sectors like urban planning and infrastructure.
“Town planners, accountants, engineers – all should be allowed to contribute ideas to move the system forward,” he advised.
“That’s how we can build a modern and efficient state.”
Reporter: Olusegun Adeyemi HOSEA
Interview Date: September 23, 2025
Location: Akure, Ondo State
