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Professional bodies represent the interests of their members by lobbying governments, and provide the framework for self-regulation where this is permitted by statute. Professional bodies are also responsible for administering training and examinations for students and members.
The CGMA Competency Framework was also launched in 2014. The framework shows the range of technical, accounting and finance skills that management accountants need to do their jobs and consists of four knowledge areas: Technical Skills, Business Skills, People Skills and Leadership Skills, all underpinned by Ethics, Integrity and Professionalism.
Members of the organisation are the only persons recognized under the Companies Code (Act 179) 1963, to pursue audits of company accounts in Ghana. It is governed by a council of eleven members who are chartered accountants. The council, headed by a president, holds office for a period of two years.
The University of Professional Studies, Accra (UPSA) formerly known as the Institute of Professional Studies (IPS), is a public university in Ghana. The main campus is located in Accra. [1] UPSA is the first university in Ghana to provide both academic and business professional education.
AAT also licenses ATOL reporting accountants although it only has a small number of such members. In 2014, AAT expanded its suite of qualifications and launched new courses in accounting, bookkeeping, computerised accounting, tax and business skills. In 2017, AAT also launched a new membership category for bookkeepers (AATQB).
The Qualification and Credit Framework was abolished in 2016. AIA Level 5 Certificate in Accountancy (QCF) is based on the AIA Foundation Level papers and is the equivalent level of a Diploma in Higher Education. AIA Level 6 Graduate Diploma in Accountancy (QCF) is based on the AIA Professional Level 1 papers and is set at bachelor's degree level.
There are other educational institutions in Ghana - some are local campuses of foreign universities, some conduct classes for students who write their exams at the distance-education centers of the larger Ghanaian universities. Universities and colleges are accredited by the Ghana Tertiary Education Commission.
Successful students would be eligible for admission as professional members of the Institute of Chartered Accountants of Ghana (ICAG). [4] Later that month a workshop was organized by the World Bank, the Liberian Ministry of Finance and the LICPA to underline improvement in LICPA standards. [5]