Sena Dake, President of ICAG, cutting the sod for the new ICAG head office. Looking on are Augustine Addo (right), Vice-President of the ICAG and Kwasi Agyemang, (left), CEO of the ICAG

ICAG cuts sod for new office complex

Emmanuel Ebo Hawkson Mar - 27 - 2024 , 08:17 3 minutes read

The Institute of Chartered Accountants, Ghana (ICAG) has cut the sod for the construction of a new office complex.

The three-storey building will expand the ICAG’s current head office to enable the institute to continue to effectively deliver on its mandate as the regulator of the accountancy profession in the country.

It is expected to be completed in a year and it will include facilities such as conference rooms, an auditorium, lecture halls, offices, research and data centres.

Mandate

At the sod-cutting ceremony in Accra last Tuesday, the Chief Executive Officer (CEO) of the ICAG, Kwasi Agyemang, said the new office complex was part of efforts to further strengthen and enhance the capacity of the ICAG to discharge its mandate in line with the law.

He said with the coming into force of the ICAG Act, 2020 (Act 1058), the ICAG had been given an enhanced mandate to regulate the accountancy profession and also promote the study of accountancy.

“To discharge this mandate effectively, there will be the need for the institute to have meeting rooms, research centres, data centres and offices. This new edifice is to provide the ICAG with decent facilities that will support its activities in line with its mandate,” he said.

According to him, the existing office was not spacious enough to meet the growing needs of the institute and the demands of Act 1058. He mentioned some of the demands under Act 1058 as the establishment of independent committees such as a disciplinary committee which provides sanctions for accountants found culpable of breaching the ethics and professional standards of the profession.

“These committees are independent statutory bodies. When you come to the old office, there is not enough space. The new building is making available offices for these committees to function and go through their business without interrupting the other activities of the institute,’ he said.

He said the new office complex was also part of cost-saving measures of the ICAG, as it will be used to host some of the events organised by the institute, instead of the practice of renting other facilities.

The President of the ICAG, Sena Dake said the construction of the new office building was a culmination of sacrifices from the staff of the ICAG, members of the institute and many stakeholders in the accountancy profession.

“This building, when completed, will not only be a combination of concrete and steel materials but will be a building of hope, aspiration, professionalism, innovation and standards in the accountancy profession and will do many things for accountants and the profession as a whole,” she said.