The Institute of Chartered Accountants, Ghana (ICAG), has marked its 2022 Accountants’ Week in Accra with a call on the government to ensure transparency while it spends money raised through the Electronic Transfer Levy (E-levy).
The ICAG, also wants the government to improve fiscal discipline especially as the county’s economy recovers from global shocks.
According to the President of the ICAG, Prof. Williams Abayaawien Atuilik, transparency will strengthen the trust citizens have in the government.
“If we can have a very clear arrangement which can bring transparency and accountability over the use of the E-levy, it will go a long way to strengthen people’s trust. People have come to a point where they think that when you pay taxes the money will not be used properly,” he told the media on the sidelines of the 2022 Accountants’ Week celebration at the Trade Fair in Accra.
He acknowledged that the war between Russia and Ukraine has contributed to increases in the prices of food and other materials which has ultimately increased inflation rates across the world.
“Given the current circumstances that we find ourselves, the rise of the policy rate is in the right direction. We are living in very tough times fuelled by a number of factors, but we believe that in our own backyard we should do the right thing”, he stated.
Prof. Atuilik however believes the government could manage the situation by implementing the right fiscal policies and also ensuring that the country lived within its means.
Over a thousand accounting professionals drawn from across the country attended the 2022 Accountants’ Week, which is on the theme ‘Accountancy and accountability: Transforming Africa’s economies.’
The celebration commenced on Saturday, May 21, 2022, with a health walk, and it is expected to end on Thursday, May 26, 2022.
The highlight of the celebration is a two-day conference, during which members of the ICAG will deliberate on the challenges confronting their work.
They are also expected to make some recommendations to the government on pertinent issues confronting the economy.
The special guest of honour for this year’s celebration is the Inspector-General of Police (IGP), Dr. George Akuffo Dampare, a member of the ICAG, while the Minister of Education, Dr. Yaw Osei Adutwum, was the guest speaker.