The Institute of Chartered Accountants of Ghana is a professional accountancy

Accountancy

Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in...

 organisation in Ghana

Ghana

Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...

. It is the sole such organisation in Ghana with the right to award the Chartered Accountant

Chartered Accountant

Chartered Accountants were the first accountants to form a professional body, initially established in Britain in 1854. The Edinburgh Society of Accountants , the Glasgow Institute of Accountants and Actuaries and the Aberdeen Society of Accountants were each granted a royal charter almost from...

 designation, and with the right to regulate the accountancy profession in Ghana. The Institute of Chartered Accountants (Ghana) was established by an Act of Parliament

Act of Parliament

An Act of Parliament is a statute enacted as primary legislation by a national or sub-national parliament. In the Republic of Ireland the term Act of the Oireachtas is used, and in the United States the term Act of Congress is used.In Commonwealth countries, the term is used both in a narrow...

, Act 170, in 1963. Members of the organisation are the only persons recognized under the Companies Code (Act 179) 1963, to pursue audit

Audit

The general definition of an audit is an evaluation of a person, organization, system, process, enterprise, project or product. The term most commonly refers to audits in accounting, but similar concepts also exist in project management, quality management, and energy conservation.- Accounting...

s of company accounts in Ghana. It is governed by a council of eleven chartered accountants. The Council, headed by a President, holds office for a period of two (2) years.

The Institute of Chartered Accountants (Ghana) is a member of two international bodies, the sub-regional ABWA or Association of Accountancy Bodies in West Africa

Association of Accountancy Bodies in West Africa

The Association of Accountancy Bodies in West Africa is a regional organization of the International Federation of Accountants . As of 2011 there were ten West African accounting institutes represented in ABWA.-History:...

, and the IFAC

IFAC

IFAC may refer to:* International Fine Arts College* International Federation of Accountants* International Federation of Automatic Control* Irvine Fine Arts Center* Irish Farm Accounts Cooperative...

 or International Federation of Accountants

International Federation of Accountants

International Federation of Accountants is the global organization for the accountancy profession. IFAC has 164 member and associates in 124 countries and jurisdictions, representing more than 2.5 million accountants employed in public practice, industry and commerce, government, and academe...

, the worldwide organization for the accountancy profession.