ICAG Inducts 281 New Members

By Lawrence Markwei and Evangel Kelvin Ainoo

The Institute of Chartered Accountant Ghana (ICAG), on Thursday in Accra inducted 281 newly qualified accountants into its membership.

Addressing the inductees at a ceremony, Kwame Asuah Takyi, Controller-General, Ghana Immigration Service (GIS), asked members to uphold the principle of accountability and gate keeping role with honesty and sincerity.

He commended the ICAG for its contribution towards the enhancement of the professional integrity of qualified accountants and auditors for economic development of the country.

He also praised the ICAG for adapting international best practices with the view to strengthening corporate governance regulations, and financial reporting quality in the public sector, commerce, industry, financial markers practice.

Mr Takyi observed that the distinguish mark of the accountancy profession was its acceptance of the responsibility to act in the public interest, and not to satisfy the client or employer.

"The public will expect that as professional accountants, you endeavour to uphold the fundamental principles and ethics at all times, even at the peril of losing your job", he said.

Mr Takyi asked the newly qualified accountants to handle accounting books ethically and competently, saying "It is imperative for you to exemplify high standards of professional conduct wherever you find yourselves".

He said the existence of legal framework was to protect and prevent professional accountants from falling prey to threats that may undermine their independence.

"It is time for all professionals, including accountants, to wear the cup of a 'citizen vigilante' Mr Takyi stressed.

The President of ICAG, Kwame Adom Frimpong, noted that acts of omissions by chartered accountants or practising accountants constituted professional misconduct.

He reminded accountants that professional misconduct could attract severe sanctions according to Act 170 establishing the institute.

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