Mr. Kwasi Agyemang, the Chief Executive Officer (CEO) of the Institute of Chartered Accountants Ghana (ICAG), has emphasized the importance of accountants upgrading their professional skills to adapt to evolving industry standards. Notably, Mr. Agyemang highlighted the necessity for accountants to familiarize themselves with new standards such as International Financial Reporting Standards (IFRS) S1 and IFRS S2, stressing the importance of understanding and applying these standards effectively.
Speaking to the Ghana News Agency, Mr. Agyemang underscored the significance of continuous professional development, particularly in light of new standards and trends shaping the accounting profession. He discussed the recently concluded ICAG Professional Diploma Programme, which provided participants with comprehensive training in areas including Advance Business Analytics, Environmental, Social and Governance (ESG), Information Technology (IT) Audit, IFRS, and IPSAS.
Mr. Agyemang outlined ICAG's objectives, which include regulating the accountancy profession and promoting the study of accountancy. He emphasized the institute's commitment to offering programs that enhance members' knowledge and competencies, ensuring compliance with international standards and membership requirements.
Mr. Wilfred Neneh Addico, a participant of the training program and Partner at Makers and Partners (MAP), shared insights into the importance of capacity-building in emerging areas such as ESG services. He explained that understanding and implementing ESG strategies are essential for organizations to mitigate negative environmental impacts while optimizing their operations.
Mr. Addico highlighted MAP's commitment to becoming consultants in the ESG space, aiming to assist individuals, organizations, and communities in developing effective ESG strategies. He emphasized the significance of ESG principles in ensuring responsible business practices and environmental sustainability.