1,133 Chartered Accountants graduate - Highest number ever

The Institute of Chartered Accountants, Ghana (ICAG) has graduated 1,133 chartered accountants (CA), representing the highest number of graduates since the accounting regulatory body was established in 1963.

Out of the 1,133, 696 were fully admitted into ICAG membership as chartered accountants, 283 became associate members; which means they need to have at least 36 months of working experience to become full members of ICAG, while the rest had completed ICAG’s professional diploma programmes.

One of the graduates who became a fully qualified chartered accountant was businessman and Executive Chairman of Special Group of Companies, Ernest Ofori Sarpong.

Speaking at the 43rd Graduation and Admission Ceremony last Saturday, the President of ICAG, Augustine Addo, reminded accountants to be mindful of how they went about their work, as they had the responsibility to protect the interest of their stakeholders, and most importantly that of the public.

“It must be emphasised that integrity, objectivity, professional competence, confidentiality and willingness to take a firm stand are essential attributes of the profession you are about to enter. You must uphold them and live with them,” he said.

Accountants, he said, must not only make integrity their hallmark, but also ensure that they did not allow people to engage in dubious activities under their watch.

According to him, moral decadence had become the order of the day, with many people looking for dubious ways to cheat the system, while cases of unethical behaviour among managers of public and corporate funds increased.

“As professionals who preach integrity, you have a moral duty to smoke out perpetrators of fraud and ensure that morality and uprightness prevail in our public and corporate financial management,” he added.

Sanctions

Mr Addo said ICAG, as the regulator of the accountancy profession and education, would not hesitate to crack the whip on accountants and firms that engaged in unethical behaviour and violated the laws governing the profession.

He explained that the ICAG Act, 2020 (Act 1058) established three statutory committees — public practices, discipline and regulation, and the regulator, through these committees regularly sanctioned wayward firms and accountants.

“We have withdrawn and suspended some licenses, imposed pecuniary penalties, and sent letters of rebuke to others.

For instance, during the banking crisis, we investigated the auditing firms that audited some of the banks, and those found culpable of not engaging in auditing in line with the standardised practice were sanctioned,’ he added.
 

Professional development

The ICAG President challenged the graduates and accountants already in the profession to adopt continuous learning to help improve their expertise in order to stay relevant in today’s technological world.

“In addition to acquiring technical accounting knowledge and skills, you need skills that will enable you to be  appropriate entrepreneurs, business advisors, financial analysts, communicators, negotiators and managers,” he added

For her part, the Deputy Controller and Accountant General, Emelia Osei Derekyi, urged accountants to embrace sustainability, which entails meeting the needs of the current generation without compromising that of the future.

“Accountants have a duty to ensure that businesses disclose their sustainability practices transparently. By guiding companies to make strategic decisions that balance profit with sustainability, accountants contribute to long-term success,’ she added.

Writer’s email: emma.hawkson@graphic.com.gh