The Chairperson of the Public Accounts Committee, Abena Osei Asare has called on Chartered Accountants to ensure good corporate governance in the management of public finance.
Mr Asare is confident this will ensure transparency and accountability in the public space.
Concerns over financial mismanagement have once again put chartered accountants under scrutiny, following revelations in the 2024 Auditor-General’s Report that cited instances of financial malfeasance involving some practitioners at various Metropolitan, Municipal and District Assemblies. The report highlighted cases amounting to millions of cedis, including failures to properly render accounts and incidents of misappropriation.
Speaking at the 46th Congregation and Admission of Members ceremony in Accra, the Chairperson of Parliament’s Public Accounts Committee cautioned accountants against lapses in corporate governance.
“Being the profession that sits at the heart of governance—whether you serve in the public sector, private sector, regulatory bodies or independent constitutional institutions—your signature carries consequences,” she stressed.
She further underscored the critical role of the profession in safeguarding the nation’s finances. “The credibility of our public finances depends on you, the reliability of financial reporting depends on you, and the fight against corruption depends on you,” she added.
The Deputy Minister for Education, Dr Clement Apaak, reaffirmed government’s determination to strengthen financial controls, particularly within the education sector. He urged the institute to maintain high professional standards.
“I encourage the Institute to remain unwavering in these standards. Let membership continue to represent discipline, competence and character. Let quality assurance mechanisms be strengthened, let collaboration with international professional bodies deepen, and let innovation and professional training continue,” Dr. Apaak stated.
President of the Institute of Chartered Accountants Ghana (ICAG), Augustine Addo, also called for renewed commitment to integrity within the profession.
“As professionals who preach integrity, you have a moral duty to smoke these perpetrators from their hideouts and ensure that morality and uprightness prevail in our public financial management arena,” he charged.
A total of 376 Chartered Accountants were inducted into the profession at the ceremony, marking a significant addition to the country’s financial governance landscape.
By Daniel Opoku
