The Vice Chancellor of the Ghana Communication Technology University (GCTU), Professor Emmanuel Ohene Afoakwah, has underscored the critical and immediate need for Ghana to train more forensic and cyber accountants to match the country’s evolving financial landscape. This call has become necessary due to the significant shift from traditional financial methods to sophisticated electronic payment systems, online banking, and digital currencies.
Professor Afoakwah delivered this message in Accra during the second Graduation and Induction Ceremony of the Chartered Institute of Tax Law and Forensic Accountants, Ghana (CITFLA), in a speech read on his behalf by the Pro Vice Chancellor, Professor Ebo Hinson. The ceremony was focused on the theme: ‘Growing Importance of Forensic Accounting, Cyber Security and Digital Forensics in the Modern Cyber Space.’ While digital advancement has brought great convenience, it has concurrently exposed financial systems to complex new threats, with cybercriminals exploiting vulnerabilities in networks, software, and human behavior to perpetrate fraud.
Professor Afoakwah clearly stated that cyber forensics equips accountants to investigate these incidents and trace digital trails left behind by perpetrators, adding that forensic accounting plays a pivotal role in safeguarding the integrity of financial information and preserving trust in accounting systems. He further explained that cyber forensics in accounting extends its reach to extract digital evidence related to financial crimes, fraud, and cyber security breaches, emphasizing that digital forensics has emerged to formulate crucial methods for cybercrime investigation and analysis.
The Dean of the GTUC Business School, Professor George Appiagyei Ampong, indicated that the collaboration between GCTU and CITFLA is designed specifically to bridge the gap between theoretical knowledge and practical application in accounting practices, urging the graduating class and all accountants to uphold the highest ethical standards. A total of 42 accounting professionals graduated in specialized areas, including Chartered Tax Law and Forensic Accountant and Chartered Tax Law and Forensic Investigations, while seven new members were formally inducted into CITFLA.
The Commissioner General of the Ghana Revenue Authority (GRA), Julie Essiam, represented by Assistant Commissioner Edward Appiah, affirmed that forensic accounting is indispensable in the nation’s efforts to combat corruption, commending CITFLA for their dedicated program. Seth Nana Amoah, Head of Analysis at the Financial Intelligence Centre (FIC) and the guest speaker, stressed the duty of all accountants to report suspicious transactions related to money laundering to the FIC, noting that this obligation extends beyond just banks.
Lawyer Eric Oduro, Founder and Executive Director of CITFLA, admonished the graduating cohort to demonstrate the highest standards and ethical conduct in all their activities to exemplify the unique brand of emerging forensic accounting experts. He recalled the nine years of effort since 2015 to achieve the Institute’s professional body status in August 2022, and appealed to the government for support through enactments, resources, and partnerships to build the capacity of professional bodies. Finally, he charged the new cohort to delve deeply into research and innovation within the accounting profession to meet the changing global demands for expertise in forensic accounting, cyber security, and digital forensics