ICAG Archives - Wontumi Online

30 Jan

BoG, Finance Ministry Commit To Zero-Financing Of Budget As IMF Pre-Condition

wontumionlineBusinessBoG, ICAG, imf, Osei Gyasi

The Bank of Ghana says it has reached an agreement with the Finance Ministry to commit to zero financing of this year’s budget and subsequent ones. Joy Business is learning that the proposed policy is a pre-condition for the country to secure a fund programme from the IMF. Speaking at the launch of the 60th anniversary celebrations by the Institute of Chartered Accountants Ghana (ICAG), Head of Banking Supervision at the Bank of Ghana, Osei Gyasi, said the move is also necessary to contain the country’s rising debt as well as control inflation. “Monetary financing of the government deficit which…

Debt Exchange: There Will Be Losses And Should Be Accounted For – ICAG

wontumionlineBusinessDebt exchange, IASB, ICAG, Public Financial Management System

Government has been charged to ensure that the International Financial Reporting Standards (IFRS) is complied with if it goes ahead to implement the Domestic Debt Exchange Programme. According to the Institute of Accountants Ghana (ICAG), even though its effect on individuals and businesses cannot be ruled out, the programme must adhere to the London-based Accounting Standards Board (IASB) and address record keeping, account reporting, and other aspects of financial reporting. “ICA Ghana has made submissions already in the process and some of the submissions are tilted to the fact that the debt restructuring will definitely have implications for financial reporting,”…

‘We Don’t Deliberately Fail Applicants’ – ICAG

wontumionlineBusiness39th admission and graduation ceremony, ICAG, Professor Williams Atuilik

The Institute of Chartered Accountants Ghana (ICAG) has rejected claims that it deliberately fails applicants for its Chartered Accounting professional examinations. According to its President, Professor Williams Atuilik, his outfit is committed to churning out competent professionals, hence, the decision to tighten the examination process. Speaking at the institute’s 39th Graduation and Admission Ceremony organised in Accra, he said ICAG will continue to exhibit high standards so that the values and ideals are not compromised. “Those in other parts of the country who often entertain the idea that ICAG deliberately fails people and we’ve set the standard just to frustrate…