ICAG members urged to smoke out perpetrators of fraud

By Elizabeth PUNSU, Kumasi

Members of the Institute of Chartered Accountants, Ghana (ICAG) have been urged to uphold the highest standards of integrity and expose individuals involved in financial fraud in both public and private institutions.

The National President, ICAG, Augustine Addo, made the call when delivering the keynote address at the 40th anniversary celebration of the ICAG Kumasi society.

He  stressed that professional accountants must take a leading role in protecting the credibility of financial systems.

“Accountants must uphold morality and smoke perpetrators of fraud from their hideouts wherever you find yourself and show that morality and uprightness prevail in our public and corporate financial institutions,” he said.

He said professional accountants, as custodians of financial accountability, must demonstrate integrity and strong ethical values in their work environments.

Mr. Addo challenged members to adopt a broader global outlook as businesses increasingly operate across borders in a rapidly evolving global market economy.

“As the world moves toward global market economies, with investments and corporations crossing borders at ever greater heights, professional accountants need a broader global outlook to understand the context within which business organisations operate,” he said.

He emphasised that accountants must equip themselves with professional knowledge, skills, values and ethical attitudes that would enable them to navigate the complexities of modern business.

Mr. Addo noted that while technical expertise remains essential, the modern professional accountant must also demonstrate strong personal and professional attributes.

He listed key soft skills required in the profession to include competency, honesty, respect, accountability, self-control and discipline, image building, expertise, commitment and politeness.

The ICAG President further indicated that accountancy education was moving beyond traditional number-crunching and now required broader competencies such as communication skills, information technology literacy, analytical ability and strong ethical judgement.

To remain relevant in the evolving business environment, Mr. Addo said ICAG had identified several emerging technological trends that accountants must familiarise themselves with. These include mobility, cloud computing, social collaboration platforms, digital and electronic payment systems, cybersecurity, augmented and virtual reality, as well as artificial intelligence (AI).

“At the moment, it seems clear that these technological developments are coming together to create the new normal. Internet and technology are reshaping the profession,” he said.

He cautioned that accountants who fail to understand and adapt to these emerging technologies risk becoming obsolete in the coming years.

Meanwhile, Chairman of ICAG Kumasi, David Adjei Abbam, said the institute’s anniversary celebration offers an opportunity for reflection and renewed commitment to the profession.

He said the milestone was “a moment of collective reflection, a celebration of resilience and a reaffirmation of the vision that brought us here today.”

Mr. Abbam noted that the institute started with about 12 members who laid the foundation for what had become a strong professional body.

Touching on the theme “40 Years of Upholding Integrity: Celebrating our Past and Empowering the Next Generation of Accountants,” he said the celebration would also focus on nurturing the future of the profession.

He explained that the institute plans to deepen engagement with students at the Junior High School (JHS) and Senior High School (SHS) levels to spark interest in accountancy education.

“The world has changed since the inception of this society and new challenges have emerged. As part of looking forward, we want to go down to the J.H.S. and S.H.S. levels to see how best we can bring attention to accountancy education and encourage students to pursue the profession,” he added.

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