The inductees, he said, have  been thoroughly trained in ethical standards and will be

re-taught the need for ethics in the course of the two day program scheduled to end on 5th October 2018.

He said that the Institute's law governing the practice of accountancy in Ghana spells out sanctions which are prescribed for specific offences. The current Accountancy ACT 170, 1963, does not specify some of the offences  and a new bill is therefore, being prepared to be passed into a law. Along with the bill he said, is also a regulation that identifies offences and specifies sanctions for each offence. The bill will also address

constitution of councils, conducts of accountancy practice and more.

Mr Agyeman described the practice of accountancy as an act of recording transactions accompanied by appropriate documentation. He, therefore, urged the inductees to keep the proper documentations in order to conduct the appropriate transactions.

In his speech, the Comptroller-General of the Ghana Immigration Service,

Mr Kwame  Asua Takyi, said the induction into the institute is an opportunity to offer contribution to any organisation that the inductees find themselves in. He said  "the paradigm shift to Ghana Beyond Aid rests with you all as accountants to protect the public purse. You are your own ethic. You can be your own threat".

He said the ICAG's decision to adopt the International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSA), and the International Standards on Auditing (ISAs) with the view to strengthening the enterprise of corporate governance regulations in financial reporting quality in various sectors, means that accountants must, among other things, protect the resources they are entrusted with.

"Ethics is therefore the key that keeps different elements of the system together so that without ethics, the state cannot function properly. I conclude that 'to be ethical is human, to be human is ethical' "he noted.

He urged the inductees to exemplify high standards of professional conducts and principles of integrity, objectivity, professional competence and due care. "Continuing Professional Development Programs abound to equip you to perform your work better"

Mr Takyi cautioned professional accountants to always declare their stance in conflict interest situations to build up integrity.

In an interview, Mr John Hansen, Head of Events said ICAG is the sole body that regulates the accountancy profession in Ghana. He said that the Institute will train the graduates in its Act, Code of Ethics, Personal Branding and other topics relevant to the practice of accountancy. He said accountancy has evolved and is growing hence the need for thorough training to allow them offer assistance in the Ghanaian economy especially in times such as the crisis facing some banks.