The Cape Coast Society of the Institute of Chartered Accountants, Ghana (ICAG) has launched its 10th anniversary with a call on members to equip themselves with the progress of Artificial Intelligence to leverage on its potential for the future of the Accounting profession.
The celebration is on the theme: " Promoting Professionalism in Accountancy Building Partnership for Sustainability and Expanding our Networks for Nation Building".
Speaking at the launch, the Director of Finance of the University of Cape Coast (UCC), Mrs. Elizabeth Obese, stated that AI was making significant impact on financial decision making by accountants. She added that “It is becoming abundantly clear that AI can make accountants redundant in the near future”.
Mrs. Elizabeth Obese speaking at the launch
She further explained that " In an era of technology where artificial intelligence is being used to solve so many problems and if we don’t take care, we may become irrelevant”.
The Finance Director continued: "AI continues to evolve and automate various tasks, it poses a potential threat to the traditional role of accountants in the country."
She, therefore, called for effective measures to curtail the potential threat posed by AI to the accounting profession.
Popping of champagne at the launch
Mrs. Obese urged members of the Cape Coast Society of ICAG not to throw caution to the wind but redouble their efforts to be in sync with the advancement of AI to keep their jobs.
The Founding Chairman of ICAG, Cape Coast District Society, Mr. Emmanuel Paul Owusu, recounted the formative years of the association that started with a handful members, saying the association now had hundreds of members who had chartered.
Mr. Emmanuel Owusu tracing the history of the Society. Beside him is Prof. Edward Marfo-Yiadom
He said the society had made significant impact to improve the quality of life of the poor and vulnerable in some communities in Central region.
The Chairman of the Cape Coast Society of ICAG, Mr. Kwabena Owusu, in his welcome address, thanked his predecessors for their support towards the association, which began in 2013.
He said the association had made efforts to assist several its members to become chartered accountants.
Mr. Owusu noted that the association would continue to build the capacities of its members to hone their skills in technology.
Mr. Emmanuel Ankamah delivering his address
The launch was chaired by Mr. Emmanuel Ankamah, a Council Member and Chair Education and Training Committee of ICAG.