Accountants Challenged To Be Abreast Of Changing Trends

The President of the Institute of Chartered Accountants of Ghana (ICAG), Mrs Angela Peasah, has challenged accountants and members of the institute to be abreast of rapidly changing trends in the accounting profession. She explained that unlike the past, the current trends in accounting, especially capital markets, sophisticated instruments and Information and Communication Technology (ICT) required that accountants, especially those who had chartered, learn modern developments. Mrs Peasah was addressing the launch of the 50th anniversary of the institute and the second African Congress of Accountants (ACOA) in Accra last Friday. She said members of the institute played a critical role in the economy and must be on top of issues to help in the advancement of the country’s economy with their practice. The ICAG was established by Act 170 (1963) during the administration of Dr Kwame Nkrumah, the country’s first president. There were only 10 chartered accountants at the time. Mrs Peasah said members of the institute could be found in every sector of the Ghanaian economy, and that they should use their presence to make a positive mark, which would translate into the benefiting of the nation. Proposing the toast, Mr Joe Hyde, a Member of Parliament in the Third Republic, commended both past and present members of ICAG for their tenacity to ensure that the flag of the institution remained high. Mr Hyde has been a member of the institute for the past 40 years. He urged the members to support those who had assumed the mantle of leadership of the institute to make it the most formidable professional body in West Africa. Currently the institute has 3,000 members in the country. The second African Congress of Accountants will be held in Accra from May 14 to May 16, 2013 and it will bring together accountants from all over the continent. It will be on the theme: “Africa’s Economic Growth, Accountability and Democracy.”