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May 22, 2012

VP Inaugurates Institute of Chartered Accountants Ghana Building

Vice President, H.E. John Dramani Mahama, has lauded the Institute of Chartered Accountants Ghana (ICAG) for the pivotal role it is playing in national development.

Delivering the keynote address at the inauguration of the ICAG Building in Accra, yesterday, Mr Mahama said the ICAG’s contributions to human capital development in Ghana could not go unnoticed.

He, therefore, called on the Institute to continue to partner with government in the promotion of the nation’s human capacity development.

Vice President Mahama paid tribute to the Institute’s founding fathers, notably Dr. R.S. Amegashie, Mr Awuku Darko and Mr Harry Dodoo, through whose foresight, selflessness and devotion to duty the Institute was established some forty-nine years ago in 1963.

Welcoming the audience to the inauguration, the President of the ICAG, Mr Joseph Fred Odartey Blankson, announced that the ICAG had approved a scholarship scheme for all first class graduates from the country’s tertiary institutions desirous of pursuing the Chartered Accountants (CA) professional programme, with the objective of mobilizing more graduates to pursue careers in accountancy.

Mr Blankson said the Institute had chalked significant successes in its efforts at ensuring that the tenets of accountability, probity and transparency were adhered to in the practice of accountancy in Ghana, while measuring up to international standards.

He said the launch and adoption of International Financial Reporting Standards (IFRS), IFRS for Small and Medium Enterprises (SMEs), International Standards on Auditing (ISA) as well as the establishment of an Audit Quality Unit to conduct reviews of audits conducted by licensed members and firms, bore testimony to the Institute’s determination to promote transparency and accountability in the operations of both public and private sector organizations.

Mr Blankson appealed to government for financial support through the GETfund in order to be able to meet the cost of its development projects including expansion of the existing ICAG School Complex into a top-notch accountancy training school.

He also called on government to fast-track the processes required to bring the ICAG Act Amendment Bill to the attention of Parliament.