ICAEW and the Institute of Chartered Accountants Ghana (ICAG) will join forces and combine international best practice and local knowledge and experience in order to bring Ghana’s professional accountancy education, training and qualification up to speed with the standard demanded by an expanding economy.
Last year, IFAC received almost £5m from the UK Department for International Development (DFID) to fund professional accountancy organization (PAO) capacity building in ten countries over a period of seven years. This partnership is the first in a series of projects around the world making use of the funding.
ICAEW will run a project to assist ICAG in enhancing its professional accountancy qualification examination system. The project will help ICAG develop its reach, influence, and capacity to fully support Ghana’s continued economic development.
ICAEW will also develop roadmaps to enhancing accreditation of educational institutions and training offices, tuition provided by the ICAG School, and the practical training and experience of newly qualified professional accountants.
Vernon Soare, ICAEW executive director for professional standards said, “ICAEW’s work with ICAG and other national PAOs is aimed at strengthening public and private investor confidence, which is a key prerequisite for sustainable economic growth. We believe every country should have its own robust national PAO, complemented by a strong professional education, training, and qualification system. We look forward to working with ICAG to find the best possible combination of our respective experience to benefit the nation’s profession and economy.”
ICAEW has extensive experience with PAO capacity building programs. It has completed more than 30 projects with PAOs, financial regulators, and government agencies, revising and launching professional qualifications, reforming regulatory and legal landscapes, and assisting with the adoption of international accountancy standards and best practices.