By Michael Foli Jackidy, GNA
Ho (V/R), May 19, GNA – Mr Augustine Addo, the President of the Institute of Chartered Accountants, Ghana (ICAG), has stated that the Institute continues to strengthen ethical training and disciplinary systems to prevent financial misconduct among accountants in Ghana.
Speaking to the GNA after a media engagement at the opening of the 2026 Annual Conference of ICAG in Ho on Monday, Mr Addo addressed public concerns over cases of financial misappropriation in some public and private institutions, where individuals described as accountants were alleged to have stolen funds.
He explained that ethical conduct remained a core component of the professional training process for chartered accountants.
“When we admit students into the profession, they come from different backgrounds and we cannot immediately determine who is ethical or unethical,” he said.
Mr Addo noted that throughout the professional training process, students undertake 14 subjects, each of which contains components on ethics and professional conduct.
“However, even after the training, it does not automatically guarantee that someone will behave ethically throughout their career,” he added.
According to him, ethical behaviour is influenced not only by professional training but also by the work environment and institutional culture within organisations.
He said, sometimes people become thieves because of circumstances and the environment they find themselves in. That is why employers must create conducive and transparent working environments.
Mr Addo said the ICAG continuously organises professional development programmes to reinforce ethical values and professional integrity among its members.
He indicated that the Institute also maintained a strict disciplinary system to deal with members found culpable of unethical conduct or professional misconduct.
“If any member is found to have acted unethically, the person is taken through a disciplinary process, and where necessary sanctions are applied,” he explained.
He disclosed that some members had in the past lost their practicing certificates, while others had received penalties, suspensions and official letters of reprimand.
Mr Addo stated that ICAG also operated audit quality assurance and monitoring systems to regularly assess the conduct and performance of accountants in practice and business.
According to him, many of the people publicly described as accountants in financial misconduct cases were often not chartered accountants or recognised members of the Institute.
“In the last five years, most of the cases we investigated involved people bearing the title accountant, but who were not members of ICAG,” he noted.
Mr Addo described professional accountants as “goalkeepers” within organisations because they play a critical role in preventing financial leakages and safeguarding institutional funds.
“If someone wants to embezzle money in an organisation, the accountant becomes the last line of defence before the money leaves the system,” he said.
He encouraged accountants to build strong ethical safeguards around themselves and remain firm against attempts to compromise their professional duties.
Mr Addo revealed that the Institute had established a support desk at its secretariat to assist members who face victimisation for resisting corruption or exposing wrongdoing.
“If you are victimised for doing the right thing, the Institute will support you through our legal structures and professional systems,” he said.
He, however, stressed that the Institute would not shield any member found guilty of financial misconduct or corruption.
Mr Addo reaffirmed the ICAG’s commitment to promoting integrity, accountability and professionalism within the accounting profession and called on members to uphold the highest ethical standards in their workplaces and public life.
GNA
Edited by Maxwell Awumah/Benjamin Mensah