Accountants in the country have been urged not to be taken unawares as they must foresee the future, upgrade their techniques and move with the times in order to respond to the changing environment.
A Finance Management Expert, Mr Nick Agule, gave the advice while presenting a paper on Financial Management Innovations and Sustainable Growth at the 25th Annual Conference of the Association of National Accountants of Nigeria (ANAN) in Abuja, earlier this week.
According to him, Financial Management is one of the most important aspects in business and refers to the strategic planning, organising, directing, and controlling of financial undertakings in an organisation.
Agule said Financial Management which also includes applying management principles to the financial assets of an organisation, while also playing an important part in fiscal management.
He said: “The gold standard in Financial Management is more revenue, less costs, more investments. Under these prevailing global economic conditions, the Accountant has no choice than to be innovative, and technology is a Siamese twin with innovation.
“The place of the accountant must be at the forefront and should even be the one initiating the disruptive technologies and not just being hit by them.”