Professional accountants have been urged to think globally and to understand the context in which businesses operate in order to be well-position to support government in the formulation of financial policies and the preparation of the national budget.
The Member of Parliament for Ketu North and Chairman of the Finance Committee of Parliament, Hon. James Klutsey Avedzi, who made the call, also reminded accountants of their responsibilities to investors, to society and to the highest standards of professional probity and competence.
Hon. Avedzi, therefore, stressed the need for all professional accountants to undertake their duties with professionalism, responsibility, accountability and ethics.
He said in performing their duties, accountants should be guided by the principles of good corporate governance, effective internal control, proper risk assessment and professional and business ethics.
He noted that anytime codes of ethics were breached in the performance of their duties as accountants, professional integrity suffered, thereby affecting individual and institutional reputation.
Hon. Avedzi was delivering the keynote address at the opening ceremony in Accra, yesterday, of an induction course for 250 newly-qualified accountants.
The three-day course forms part of activities marking the 50th anniversary celebrations of the Institute of Chartered Accountants, Ghana (ICAG).
He challenged the inductees to take keen interest in Continuous Professional Development Programmes (CPDPs) and specialised Diploma Courses offered by the ICAG in order to update their knowledge in current developments in the profession so as not to become stale, but to remain relevant to their organisations, the ICAG and the profession.
He also commended the ICAG for its efforts at ensuring― through the provision of quality accountancy training for prospective accountants― that the quality of accountancy education was not compromised in Ghana.
In an address, Mrs Angela Peassah, President of the ICAG, also reminded the inductees of the five fundamental principles of the IFAC Code of Ethics, which she outlined as integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.
Mrs Peassah, therefore, urged the inductees to be morally upright and work hard to resist temptation to engage in corrupt and fraudulent accounting practices.
In his remarks, the Chief Executive Officer of the ICAG, Mr Frederick Nana Kweku Moore, noted that accounting was the language of business and that the strength of the ICAG and a strong membership body was paramount in enhancing the accounting profession in Ghana.
Mr Moore advised the inductees to work hard to reach their highest potential in the next ten years, adding that it was his expectation that out of every five organisations, at least four of them should be headed by a chartered accountant.
Source: ISD (G.D. Zaney)