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Business News of Monday, 21 May 2012

Source: GNA

Veep inaugurates ICAG building complex

Vice President John Dramani Mahama on Monday commended the Institute of Chartered Accountants, Ghana (ICAG), for adopting various international standards to enhance their performance.

He said the adoption of such standards would not only promote their activities but help to strengthen ways of ensuring transparency and accountability in the country.

Vice President Mahama made the commendation when inaugurating an ultra-modern building complex for the ICAG in Accra.

The building constructed with financial contributions from members of the Institute and students, would serve as official accommodation for the Executive Committee and staff.

It also provided classrooms and other logistics to enhance the performance of students and provide adequate skills for them to successfully pass their examinations.

Vice President Mahama called for an effective collaboration between government and ICAG in the preparation of composite budgeting, particularly for the Metropolitan, Municipal and District Assemblies (MMDAs).

He gave the assurance that government would facilitate activities that would help support the Institute financially and logistically to undertake other development projects.

Vice President Mahama urged ICAG to pursue more laurels that would provide credibility to the Institute, to attract international attention and recognition.

Mr. Joseph F.O Blankson, President, ICAG, said the Institute had expanded its programmes to attract more people and disabuse the notion that the profession was a preserve for the privileged.

He said in pursuit of its strategy of producing more quality accountants for economic development, Council of the Institute had approved a scholarship scheme for all first class graduates from all tertiary institutions desirous of pursuing the Chartered Accountancy professional programme.

“This we hope will motivate more graduates to pursue a career in accountancy,” he said.

Mr. Blankson said the Institute had come a long way since May 1968 when Messrs Yaw Adjei and Henry K. W. Richardson, both deceased, qualified as the first Chartered Accountants of ICAG.

He said since then, membership of the Institute had grown to over 2,800, with over 1,400 being admitted in the last six years.

“Student enrolment at various levels of the examination is over eight thousand,” he said.

Mr. Blankson appealed to Vice President Mahama to fast-track the processes required to bring the Institute’s amendment bill for the review of ICAG’s Act to the attention of Parliament.

He said the Bill sought to bring the law in line with current trends in the face of a dynamic and competitive global business environment.

Vice President Mahama later cut the tape and unveiled a plaque.**