Uphold ethics in accountancy profession — Asuah Takyi

The Comptroller-General of the Ghana Immigration Service (GIS), Mr Kwame Asuah Takyi, has advised newly qualified accountants to uphold ethics in the profession at all times even at the peril of losing their jobs.

He mentioned integrity, objectivity, professional competence, confidentiality and exemplary behaviour as some of the watchwords that must serve as guiding principles to accountants in the discharge of their duties.

“A distinguishing mark in the accountancy profession is its acceptance of the responsibility to act in the public interest.

 This responsibility is not to satisfy the client or employer but to act in a manner that puts the state first,” he stated.

Event

Addressing an induction ceremony of 282 newly qualified accountants in Accra yesterday, Mr Takyi said: “You were selected by virtue of hard work and therefore it is imperative for you to exemplify high standards of professional conduct wherever you will find yourselves.

Each one of you will be expected to handle the affairs of the accounting books in an ethical and competent manner; and this is an important responsibility that I will encourage you to pledge to accept to the best of your ability,” he stated.

The accountants will be taken through code of ethics of the profession, the Institute Chartered Accountant Act 1963 (Act 170) and personal branding during the two-day training exercise.

Standards
        
Mr Takyi said as part of efforts to strengthen corporate governance regulations and quality financial reporting in the public sector, the Institute of Chartered Accountants Ghana (ICAG) had adopted values such as the International Financial Reporting Standards (IFRS), the International Public Sector Accounting Standards (IPSAS) and the International Standards on Auditing (ISAs).

“It is, therefore, paramount that qualified accountants hold firmly the torch of accountability and the gate-keeping role but at the same time, protect the resources they are entrusted with in all honesty and sincerity,” he said.

The comptroller further explained that,“corporate governance regulations and professional standards, monitoring and disciplinary procedures all exist to protect and prevent the professional accountant from falling prey to threats that undermine his independence.”

He, therefore, asked accountants to declare their stance in conflict of interest situations at all times.

“This builds up the integrity of not only the individual accountant or auditor, but the accountancy profession as a whole.

“It is time for professionals, including accountants, to wear the cap of a citizen vigilante and decline any self-interest threats to their objectivity,” Mr Takyi added.

Advice

The President of the ICAG, Prof. Kwame Adom-Frimpong, said the challenge in today’s global and highly competitive markets were immense for which reason members needed to perform their work creditably.

According to him, it had always been the desire of the ICAG to enhance career prospects of its members especially, newly qualified ones through continuous career development.

He, therefore, advised the inductees to stand tall in integrity, be professional in service and to uphold the institute’s high ethics and values.