February 25, 2019 09:29 AM / By Professor Onafowokan O. OLUYOMBO*
Being an Inaugural Lecture delivered on Thursday, January 31, 2019 by Professor Onafowokan O. OLUYOMBO of School of Management and Social Sciences Pan Atlantic University Lagos, Nigeria
I agree absolutely with the word of God as written in the International Standard Version of the Bible in Ecclesiastes 9:11. “I considered and observed on earth the following: The race doesn't go to the swift, nor the battle to the strong, nor food to the wise, nor wealth to the smart, nor recognition to the skilled. Instead, timing and circumstances meet them all”.
Definitely, at Pan-Atlantic University (PAU), I may not be the swiftest, strongest, wisest, smartest, and most skillful, but God's mercy brought me this far. “Therefore, God's choice does not depend on a person's will or effort, but on God Himself, who shows mercy” (Romans 9:16). It is with great pleasure and delight that I therefore deliberately, sincerely and passionately offer my special heart-felt gratitude and appreciation to the Almighty God, to Jesus Christ – The Son of the Living God and my saviour, and to the Holy Spirit – my Comforter and Director – for this uncommon privilege to deliver the 9 inaugural lecture of this great University in 2019, titled “The Accounting Profession: Throw Back, Throw In and Throw Out” as a Professor of Financial Accounting.
Before I proceed, I would like to acknowledge the other eight erudite and distinguished scholars who have presented their inaugural lectures from this podium. They are Professor Juan Elegido, the Vice Chancellor of PAU, Professor Pat Utomi, Professor Emewvo Biakolo, Professor Chantal Epie (The Dean, School of Management and Social Sciences, PAU), Professor Olawale Ajai, Professor Fabian Ajogwu SAN, Professor James Tsaaior and Professor Chris Ogbechie. I am glad to follow their paths and look forward to seeing more inaugural lectures in the near future.
This lecture reveals the summary of my major contributions to the field of Accounting based on my experience in the industry, and more importantly as an academic. I chose to follow this path because of the privilege I had to read Uche (2007) which got me fascinated. True, I am not here as a Historian, but it is important to put this lecture in the right context of the happenings within this University because 'if the foundation be destroyed, what can the righteous do?” It is on this premise that I seek your permission, Mr. Vice Chancellor Sir, to use this medium as the story of my career in Accounting that led to my elevation and appointment as the first Professor in Accounting in this University, the first Professor in the Department of Accounting of PAU, and of course the first Chartered Accountant to be appointed a Professor by the University.
Being the first sitting HOD in the School of Management and Social Sciences (SMSS) to be appointed as Professor, as the longest serving staff of the Department of Accounting and also as the Head of the Department, I feel a sense of duty to start within my constituency as my noble contribution to the growth of Accounting profession, academically and professionally.
This lecture is divided into seven sections. Section two is my encounter with Accounting as a subject and my journey into the Accounting Profession which is the throw back. In sections three and four, I explained my professional and academic contributions in the field of Accounting respectively as the throw in. The throw out in sections five and six captures my contributions to the field of Banking and Finance, and my inputs into National and International landmarks respectively. The conclusion is in section seven.
*Professor Onafowokan O. OLUYOMBO is a Professor of Financial Accounting, and Head, Department of Accounting School of Management and Social Sciences Pan-Atlantic University Lagos, Nigeria