The Institute of Chartered Accountants, Ghana, in collaboration with the Gambia Institute of Chartered Public Accountants, is to establish an examination centre in Gambia to strengthen the institutional capacity of both Institutes.

The Institute is committed to spread its tentacles across the African continent to create awareness of the relevance of the accountancy profession to economic development, and raise the productive capacity of the sub-region.

Speaking at a press conference in Accra as part of the Institute’s Accountants Week celebration, Professor Kwame Boasiako Omane-Antwi, President of ICAG, said: “a sound Ghanaian economy can only be built when the public financial management systems put in place an effective machinery to support capacity building programmes of government and public sector finance staff.”

Prof Omane-Antwi said the Council of the Institute had approved the establishment of faculties such as financial reporting, audit and assurance, corporate financial management, corporate governance, taxation and fiscal policy and public financial management.

“The faculties would provide chartered accountants with up-to-date business ideas, latest management and decision-making tools, unbiased and independent information in addressing the needs of both public and private sectors,” he explained.

Prof Omane-Antwi explained that it was only the chartered members of ICAG under the Institute of Chartered Accountants Act 1963, (Act 170) who qualified to be called chartered accountants in the country.

Currently the Institute has a total membership of 4,213 who are serving in public and private practice, academia, and finance analyst.

He said the syllabus for the chartered accountant professionals would be revised with effect from May 2015 to ensure full compliance with IFAC’s International Education Standards and update the syllabus content in line with current global development in accountancy practice.

Prof Omane-Antwi said in April 2011, the Institute in partnership with the Liberia Institute of Chartered Public Accountants established an examination centre in Monrovia for chartered accountant professionals and Accounting Technicians Scheme of West Africa.

He said the institute is a member of international organizations such as Association of Accountancy Bodies in West Africa, Pan Africa Federation of Accountants and International Federation of Accountants (IFAC).

Prof Omane-Antwi stressed that their outfits had signed a Memorandum of Understanding with the Chartered Institute of Public Finance and Accountancy, a professional body in UK to strengthen the country’s public financial management.

As part of the Institute’s celebration, there would be a two-day conference from April 28 to 29, and a dinner-dance on April 30, all at the premises of the University of Cape Coast in the Central Region.

The conference is under the theme: “Transforming the Accountancy Profession in this Era of High Technology.”