First Quarter 2016 Public Forum " organised by ICAG on the theme: The Income Tax Act 2015, Act 896: What has Changed?
First Quarter 2016 Public Forum
SEC, ICAG Collaborate to Strengthen Capacity of State-Owned Enterprises
The Government of Ghana, through the State Enterprises Commission (SEC), has signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants, Ghana (ICAG).
Dr Camynta Baezie, Executive Chairman, SEC and Prof. Kwame Boasiako Omane-Antwi, President, ICAG, signed for their respective institutions. The objective of the MoU is to create a formal basis for co-operation and collaboration in strengthening the capacity of State-Owned Enterprises (SoEs). Under the MoU, ICAG will review and advise Government on the state of implementation of International Financial Reporting Standards (IFRS) in State-Owned Enterprises (SoEs).
The MoU will allow SEC to set up an IFRS Assessment Framework to review compliance by SoEs, conduct IFRS training to enhance capacity and, more importantly, pass on the requisite knowledge to ensure compliance, with respect to the preparation of their financial statements and follow up on SoEs which do not comply fully to ensure that IFRS compliance is upheld in their preparation of financial statements.
Notice to Companies Subject to the Securities Industry Act and their Auditors
Our attention has been drawn to Circular Number SEC/CIR/002/2015 issued by the Securities and Exchange Commission (SEC) and published in the Monday, February 8th edition of the Daily Graphic and wish to state the following facts:
- The Institute of Chartered Accountants (Ghana) filed a judicial review application against SEC challenging its authority to issue directives to auditors as to the manner of signing audit reports contained in the annual financial statements of listed companies.
TAX Update Applicable for CA Professional Examinations
THE INSTITUTE OF CHARTERED ACCOUNTANTS (GHANA)
NOTICE TO STUDENTS
TAX UPDATE APPLICABLE FOR CA PROFESSIONAL EXAMINATIONS
The Institute of Chartered Accountants (Ghana) wishes to announce to existing and prospective students of the Income Tax Act, 2015, (Act 896) assented to by the President of Ghana on 1st September, 2015, which took effect on 1st January, 2016. It is the policy of the Institute to examine students on a new tax law six (6) months after its effective date.
Below are the implications of the Income Tax Act, 2015, (Act 896) on the CA Professional Examinations;
- That, the old Act - Internal Revenue Act, 2000 (Act 592) is applicable for May 2016 CA Professional Examinations.
- That, the new Act - Income Tax Act, 2015, (Act 896) will be examined from November 2016 CA Professional Examinations and subsequent sittings until further notice.
Chief Executive Officer
ICAG ORGANIZES PUBLIC LECTURE ON THE 2016 NATIONAL BUDGET
ICAG ORGANIZES PUBLIC LECTURE ON THE 2016 NATIONAL
The President of the Institute of Chartered Accountants (Ghana) (ICAG), Professor Kwame Boasiako Omane-Antwi, has described investments in all sectors of Ghana’s economy—Education, Health, Water delivery, Roads, Transport, Communications, Housing and Energy— as far-reaching and significant.
Prof. Omanne-Antwi, therefore, commended government for its steadfastness in pursuing the economic vision of leading Ghana through a transformational agenda to consolidate the country’s Middle-Income Country status.
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