The Association of National Accountants of Nigeria (ANAN) has introduced two publications to reform accounting education and enhance financial reporting standards in Nigeria.
The announcement was made during the 29th Annual Conference in Abuja, themed “Advancing Accounting Excellence in a Changing World”.
The first publication, titled “Country Report on Accounting Education in Nigeria,” analyses the current state of accountancy education, identifying challenges and offering recommendations for modernisation.
The report, presented by ANAN Country Report on Accountancy Education chairman and Financial Reporting Quality Award Panel and Membership Secretary Suleiman Aruwa, highlights the reliance on outdated curricula in many Nigerian accounting programmes.
It points out the failure to address emerging areas such as forensic accounting, sustainability reporting, and financial technology, which limit students’ exposure to skills necessary for combating global financial crimes.
The report also notes the infrastructure deficiencies in under-resourced institutions, which hinders students’ practical experience.
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By GlobalDataAnother issue raised by the publication is the shortage of highly qualified accounting educators in Nigeria.
The report indicates that many faculty members lack opportunities for continuous professional development, which impacts their ability to teach contemporary accounting practices effectively.
To tackle these issues, the report recommends that educational institutions should modernise accounting curricula to include contemporary topics and expand practical training opportunities through industry partnerships.
The ANAN also unveiled the “National Financial Reporting Quality Award” publication.
This initiative aims to improve the quality of financial reporting in Nigeria by establishing benchmarks and recognising organisations that demonstrate excellence in financial transparency and accountability.
In addition, the inaugural winners of the financial reporting quality award for the public and private sector categories were the Federal Inland Revenue Service and MTN Nigeria, respectively.
