That, he said, had become necessary in view of the changing face of financial transactions in which traditional financial transac­tions has given way to electronic payment systems, online banking and digital currencies.

Prof. Afoakwah made the call in Accra on Saturday in a speech read on his behalf by the Pro Vice Chancellor, Prof. Ebo Hinson, during the second graduation and induction ceremony of the Chartered Institute of Tax Law and Forensic Accountants, Ghana (CITFLA).

The second graduation and in­duction of ceremony of CITFLA in collaboration with the GTUC was on the theme: ‘Growing Im­portance of Forensic Accounting, Cyber Security and Digital Foren­sics in the Modern Cyber Space.’

In all, 42 accounting profes­sionals graduated in areas such as Chartered Tax Law and Forensic Accountant, Chartered Tax Law and Forensic Investigations and seven new members were inducted into the association.

Prof. Afoakwah noted that while advancement in digital technologies had brought convenience, so it had also expose financial systems to new threats.

He said cyber criminals ex­ploit vulnerabilities in networks, software and human behaviour to perpetrate financial fraud.

“Cyber forensic equips accoun­tants to investigate these incidents and trace digital traits left behind by perpetrators” Prof. Afoakwah stated.

He further noted that forensic accounting played pivotal role in safeguarding the integrity of finan­cial information and preserving the trust in accounting systems.

Prof. Afoakwah explained cyber forensics in accounting extended its reach to earth digital evidence related to financial crimes, fraud and cyber security breaches.

“Digital forensics has emerged to formulate possible ways for cy­bercrime investigation and analysis process,” Prof. Afoakwah stressed.

The Dean of GTUC Business School, Prof. George Appiagyei Ampong, indicated that the col­laboration between GTUC was to bridge the gap between theory and practice in accounting practices.

He then urged accountants and the graduands to keep to high ethical standards.

The Commissioner General of the Ghana Revenue Authority, Julie Essiam, in his remarks by Assistant Commissioner of GRA, Edward Appiah, underlined that forensic accounting had become necessary to combat corruption.

She lauded CITFLA for the pro­gramme to develop more forensic accountants for the country.

The Head of Analysis at the Financial Intelligence (FIC) Centre, Seth Nana Amoah, who was the guest speaker, also urged accoun­tants to report suspicious transac­tions to the FIC.

He also said it behooved accoun­tants to report transactions related to money to the FIC, adding that it was not only banks which were ob­ligated to report suspicious transac­tions to FIC, but accountants too.