<<Print>>

The accounting and auditing firm, PwC, says it supports the sanctions that the Institute of Chartered Accountants, Ghana (ICAG) imposed on four auditing firms for various breaches of auditing principles.

While describing the GH¢2.2 million fine that the ICAG imposed on the four auditing firms as a step in the right direction, the Country Manager of PwC, Mr Vish Ashiagbor, told the Daily Graphic in Accra yesterday that he was convinced that the fine would put the affected auditors and other firms in the country on their toes to properly execute their duties, going forward.

He added that that should lead to a marked improvement in the quality of auditing and accounting in the country.

Mr Ashiagbor was speaking in an interview on the recent imposition of fines on Pannell Kerr Forster (PKF) Chartered Accountants, J. Mills Lamptey & Co., Morrison & Associates and Deloitte & Touche by the ICAG, which regulates the accounting and auditing profession in the country.

He spoke after the PwC had launched its 2018 Banking Survey Report in Accra.

Proactive measures

The ICAG announced the sanctions in a press release last Monday, after a fact-finding committee had found the work of the affected auditing firms on six collapsed banks short of the ethics and the requirements of the International Standards on Auditing (ISA).