A project dubbed: The Institute of Chartered Accountants in England and Wales (ICAEW) Partner in Learning (PiL) Scheme, which is designed to help strengthen Ghana's accountancy education, training and qualification, has been launched in Accra.
The project, which is designed to incorporate the services and activities that ICAEW currently offers Higher Education Institutions (HEIs), will help ICAG develop its reach, influence and capacity to fully support Ghana's continued economic development.
ICAEW is a world leading professional membership organization that promotes, develops and supports over 144,000 chartered accountants worldwide. It provides qualifications and professional development, shares knowledge, insight and technical expertise, and protects the quality and integrity of the accountancy and finance profession.
Under the arrangement, ICAEW, with Mr Stephen Landin as Consultant, and the Institute of Chartered Accountants (Ghana) (ICAG) will join forces to blend international best practice and local knowledge and experience to bring Ghana's professional accountancy education, training, and qualification in-line with the standard demanded by an expanding economy.
ICAEW will assist ICAG in enhancing its professional accountancy qualification examination system, as well as develop roadmaps to enhancing the accreditation of educational institutions and training offices, and the practical training and experience of newly-qualified professional accountants, with tuition provided by the ICAG School.
PiL is being sponsored by the British Department for International Development (DFID) through the International Federation of Accountants (IFAC), with ICAEW as a facilitating partner.
IFAC received almost £5 million from DFID In 2014 to fund Professional Accountancy Organizations (PAO) capacity building in ten countries over a period of seven years.
Speaking at the launch, Mr Kwasi Asante, Vice President, ICAG and Chairman, Education & Training, PiL, noted that ICAG was enjoined by the provisions of Sections 9 (2) (a-c) of the Chartered Accountants Act, 1963 (Act 170) to ensure that its students received quality tuition.
Section 9 (2) (a-c) of Act 170 states as follows:
Functions of Council
(2) It shall be the duty of the Council,
a) To conduct or provide the conduct of qualifying examinations for membership of the Institute or for registration as a registered accountant under this Act and to prescribe or approve courses of study for such examinations.
b) To supervise and regulate the engagement, training and transfer of articled clerks;
c) To specify the class of persons who shall have the right to train articled clerks and to specify circumstances in which any person of that class may be deprived of that right."
Mr Asante said even though with the kind support of ICAEW, ICAG had been conducting examinations since 1968 to date, thus fulfilling its obligations under Section 9(2)a, ICAG was not fulfilling its obligations under sections 9 (2) (b & c).
He said it would require collaboration and strategic partnerships with other stakeholders to enable ICAG discharge its statutory obligations of offering its students the required standard tuition under sections 9 (2) (b & c) of Act 170.
Mr Asante noted further that the issue of ensuring that students received quality tuition became much more instructive, if viewed in the context of ICAG's membership of IFAC.
He said as a member of IFAC, ICAG was required to fulfill its membership obligation number 2 which is on Education―to ensure that their students receive quality tuition.
He said the PiL Scheme was, therefore, a response to the need for strategic alliances to help ensure that students received quality tuition.
Mr Asante said PiL was a programme for students, adding that DFID/IFAC had selected ICAG as one of the few Profession Accountancy Organizations (PAOs) to support in order to improve its services to its students and members.
Under the project, HEIs that engage with the ICAEW through activities such as graduate recruitment, credit for prior learning (CPL), and purchase or use of our learning materials can apply for recognition as an ICAEW Partner in Learning.
Admission to the scheme is free and PiL status is awarded to HIEs which can demonstrate their commitment to the core principles, which ensure consistency in the quality of tuition provision for ICAEW qualifications around the world, even though the best practice indicators may vary depending on the qualification offered by the organization.
Recognized PiLs can benefit from a dedicated ICAEW contact; use of the 'Partner in Learning' logo on classroom and marketing materials; invitations to HEI conferences and events; advice on course accreditation (CPL); access to student recruitment services; access to the HEIs area of the ICAEW website and online resources, such as electronic ACA question banks; and access to reference copies of ACA learning materials when new editions are published.
The student recruitment team offers support, advice and assistance for those weighing up their career options with the ACA qualification. This includes hosting presentation and networking sessions, running business skills sessions, literature, ACA guide to training vacancies and internships.
Monthly e-newsletters are also sent to HEIs while an annual advisory day is hosted for HEI representatives.
Source: ISD (G.D. Zaney)