Soon after Ghana attained independence, the zeitgeist was for the need to achieve optimum development in every facet of the Ghanaian human life. At the time, there was a general yearning by the average Ghanaian to develop local capacity. The training of accountants was experiencing severe difficulties due to inadequate local practical experience for accountancy trainees.
This eventually led to the establishment of a local accountancy professional body which was later incorporated on 19th April, 1963 as the Institute of Chartered Accountants (Ghana) by presidential assent.
A high point in the early days of the Institute was when it conducted its first batch of professional examinations locally in May 1968 with a pass rate of 2 out of 7 candidates representing nearly 30%. It collaborated with the English Institute of Chartered Accountants in this effort until 1978 when ICAG gained autonomy.
We have not looked back since. Today, ICAG has established its own school to facilitate accountancy training through a better focused and structured effort and pass rate at each sitting in either May or November usually peak over 200 candidates.
In collaboration with the Accountancy Bodies West Africa, ICAG also organizes Accountancy Technician Scheme West Africa (ATSWA), an accountancy technician programme.
A candidate who successfully completes the ICAG professional programme and has obtaied working experience in accountancy and approved by ICAG Council, qualifies to use the designatory letter ‘CA’ after his/her name.Successful completion of the ATSWA programme, however, opens up a way for people to take up middle-level managerial jobs and can serve a good introduction to the very determined who may wish to proceed to the professional programme. They can also pursue to CA professional programme to qualify as chartered accountants.
ICAG Chartered Diploma Programme
The Chartered Diploma programme is a professional diploma with specialization in various fields of business related to the accountancy profession. As an innovative programme initated by the Institute, the courses focus on equipping participants with specialized skills in for example:
Currently, the Institute is running courses for Forensic Audit and Oil & Gas Accounting.
The Institute of Chartered Accountants (Ghana) is a member of two international bodies. These are:
While ABWA is a sub-regional grouping of accountancy bodies in West Africa, IFAC is worldwide association, with headquarters in New York, USA and PAFA is headquartered in South Africa.The member countries of ABWA are:
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