The Institute of Chartered Accountants Ghana (ICAG) has entered into a twining arrangement with Institute of Chartered Accountants in England and Wales (ICAEW) to strengthen Ghana’s corporate financial reporting regime.
The two bodies will also work to strengthen the regulation of audit firms, training of accountants and auditors to enable qualified
accountants and auditors be abreast of international developments and raise ICAG’s profile in the West African Sub-Region.
Mr Joseph Blankson, President of ICAG announced this at a press briefing as part of their week- long celebrations towards the Institute’s upcoming conference in Accra on Monday.
The two-day conference on the theme: “Managing our Resources- Building our Nation,” is scheduled for June 1- June 2 in Koforidua in
the Eastern Region.
Mr Blankson noted that financial reporting was one of the building blocks for sustainable development and that the Institute would ensure that the accountancy profession played its role in
Ghana’s economic development.
“Ghana deserves a world class financial reporting regime and we are delighted to be working with ICAEW, a world leading professional
accountancy body, to strengthen the profession and its role in the economic growth of our country,” he added.
Mr Blankson explained that such collaboration would also address the malfeasances being reported in public service institutions and
noted that such practices were rather from the account officers who were not members of the Institute.
He said the Institute had instituted a training programme for account officers in public institutions and completed a training programme for the Ghana Education Service.
“We are now arranging to train account officers for the Ministry of Local Government and Rural Development and with the availability of
resources, continue for other public institutions,” he added.
Mr Blankson announced that the Institute would soon begin an ICAG Chartered Diploma Course with specialisation in business studies
geared towards meeting the current demand dynamics of the market and afford members opportunities to update their current knowledge.
The course will include accounting in oil and gas, fraud and forensic, treasury and risk management, corporate financial management, internal auditing and governance, charity accounting and financial management.
He said the Institute had recorded a steady growth in the admission of students and membership in recent years and had a membership of 2,689 with 2,178 of them in good standing.
“There is therefore the need for us to embark on some of these training to bridge the gap,” he added.
Mr Vernon Soare, ICAEW Project Director said high level financial skills were key in a growing economy and would ensure that Ghana’s
ICAG received the internationally recognised technical and ethical standards.