Story by Hakeem Olaniyan
Seasoned thought leader and renowned chartered accountant, Dr. Bode Oguntoke, FCA, has identified three powerful forces reshaping the global accounting profession: sustainability reporting, digital assets, and e-commerce. These, he said, are no longer fringe concepts but fundamental elements of modern finance that demand a new kind of accountant, one equipped not just with spreadsheets and tax codes, but with strategic insight, ethical grounding, and fluency in emerging technologies.
Dr. Oguntoke delivered these remarks as keynote speaker at the 7th edition of the Accounting and Business Conduct (A.B.C.) conference, hosted by the Nigerian Universities Accounting Students’ Association (NUASA) of Lagos State University. Themed “The Future of Accounting and Taxation in a Digital Global Economy,” the conference served as a platform for critical discourse on the evolving role of accountants in a technology-driven world.
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Oguntoke, a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) challenged participants to rethink the profession in light of global changes. Speaking with clarity and conviction, he redefined conventional thinking on the practice of accounting in the digital age.
Addressing sustainability, he emphasized the growing influence of Environmental, Social, and Governance (ESG) reporting in corporate strategy. Citing global frameworks such as GRI, SASB, IFRS S1 & S2, and TCFD, he argued that consistent and transparent ESG disclosures are now critical to building stakeholder trust and long-term corporate resilience.
On the issue of digital assets, Oguntoke examined the accounting complexities surrounding cryptocurrencies, NFTs, and blockchain-based tokens. He noted that these assets are redefining value and ownership, yet remain subject to evolving regulatory standards. He encouraged accountants to adapt quickly, develop new skillsets, and apply sound judgment in evaluating and auditing these instruments.
In his analysis of e-commerce, he explained how digital platforms are changing the way businesses operate. From IFRS 15 revenue recognition to cross-border VAT compliance and cybersecurity threats, he stated that modern accountants must be capable of navigating both financial regulations and the digital infrastructure underpinning commerce today.
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Oguntoke also offered a cautionary note on the environmental implications of digital transformation. While acknowledging the potential of technologies like blockchain to enhance transparency and inclusion, he warned that they also come with costs, such as high energy use and e-waste. He called for a balance between innovation and sustainability.
Concluding his presentation, he remarked, “The accountant of today is not just a custodian of numbers but a navigator of ethics, strategy, and digital innovation.” He encouraged young professionals to transition from passive reporting roles to proactive leadership positions that can shape the future of finance, governance, and sustainable development.
A.B.C. 7.0 once again reinforced NUASA-LASU’s commitment to producing well-rounded, future-ready accounting professionals. The event continues to serve as a vital space where education meets industry relevance, inspiring the next generation of financial leaders.
