The Chief Executive Officer of the Institute of Chartered Accountants Ghana (ICAG), Mr Kwasi Asante, has attributed the collapse of the Ghana Airways and the Ghana Railway Authority to lack of strong internal control systems.
He said the lapses gave room for people to manipulate the system which eventually led to the collapse of those institutions.
He, however, said a vibrant and strong control system had contributed immensely to the growth of some companies in the country.
Mr Asante was speaking to the Daily Graphic after a press conference organised by the institute to usher in the institute’s annual week-long celebrations
He said the celebration which was on the theme: “Sustaining Value Creation” was to help accountants deliberate on issues that would help them maintain value in their various organisations.
Addressing the press, the Vice President of the Institute, Mr Joseph Frederick Blankson, said members of the institute played significant and strategic roles in the economy of the country by providing essential services in the areas of accountancy, assurance services, taxation and financial management in both the private and public sectors.
He said in aid of this, the institute intended to start the ICAG diploma with specialisation in business studies geared towards meeting the current dynamic demands of the market.
He said the programme was aimed at training participants to improve on their performance, adding that it included a comprehensive range of advance diplomas.
Mr Blankson said “the advice and support provided by chartered accountants during the 2009 economic crisis made a tangible difference to countless individual organisations as well as our economic recovery as a whole”.
He, therefore, said the council of the institution was in the process of instituting a quality assurance review programme to ensure adherence to quality standards by members.
He said the institute was mentoring the Liberian Institute of Certified Public Accountants (LICPA), adding that the institute (LICPA)in recent times had also requested for the ICAG to open an examination centre in Liberia to enable students of LICPA to take part in the professional ICAG examinations.
Mr Blankson called on all members of the institute to be part of the celebrations for interactive deliberations to help promote the growth of the profession.
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