Tech Proficiency Key For Relevance, Says GCTU VC

The Vice-Chancellor, Prof. Emmanuel Ohene Afoakwa has said that in the age of Artificial Intelligence (AI), technological proficiency is no longer optional but essential for relevance.
The VC made this remark in a speech delivered on his behalf by the Pro Vice-Chancellor, Prof. Robert Ebo Hinson, during the second graduation and induction ceremony of the Chartered Institute of Tax Law and Forensic Accountants (CITLFA), on Saturday, November 16, 2024, at the Florence Onny Auditorium.

Prof. Afoakwa stressed that in an era of emerging technologies like AI, cyber security, robotics, natural language programming and blockchain technology, staying relevant requires continuous learning, adaptation and innovation. “To stay ahead, make learning technology a daily habit, integrating it into every aspect of your studies and professional development to align with industry demands,” he noted. He highlighted GCTU’s core mandate, stressing that the institution has a special mandate by an Act of Parliament to focus on ICT in Ghana. This mandate is reflected in its core programmes and research initiatives.

Prof. Afoakwa emphasized the urgent need for training more forensic accountants to drive national development, citing the paradigm shift in financial transactions from traditional to digital platforms, including electronic payments, online banking and cryptocurrencies. According to him, success stories are born from hard work, clear vision, strategic planning and unwavering faith. “To achieve greatness, seek guidance from those who have paved the way, embracing mentors who have excelled in the past,” he indicated.

In his keynote address, the Executive Director and Founder of CITLFA, Mr. Eric Oduro Esq. noted that the institute has been in existence for some time now and has gone through several transformations. He indicated that the institute stands out as a beacon of excellence, offering unparalleled specializations in cyber security, digital forensics, financial crimes, tax, forensic accounting and audit in West Africa. Mr. Oduro hinted at a potential partnership between GCTU and CITLFA through an MoU. This partnership seeks to deepen the fraternal relationship to bridge the gap between academics and professionalism. “As CITLFA prides itself with impeccable expertise in financial crimes, forensic accounting and audit, GCTU also lays bare its core competence in technology education,” he said.

Giving his remarks at the event, the Dean of GCTU Business School, Prof. George Ampong, highlighted the significance of the partnership between GCTU and CITLFA in addressing the theory-practice divide in accounting, adding it will enhance practical skills, foster industry relevance and promote professional excellence. He urged the graduands to uphold high ethical standards and maintain public trust.

The Commissioner General of GRA, Ms. Juile Essiam, had a speech read on her behalf by the Assistant Commissioner in charge of Policies and Programmes at the GRA, Mr. Edward Appiah. He elaborated that GRA acknowledges the pivotal role forensic auditing and investigations play in tax administration. “The Authority remains committed to leveraging on forensic accounting as a special tool in the fight against tax fraud. Collaborating with stakeholders like CITLFA is key, as such partnerships bolster the effectiveness of strategies aimed at managing tax fraud,” he emphasized.

The Head of Analysis at the Financial Intelligence Centre (FIC) Mr. Seth Nana Amoah sounded the alarm on the escalating threat of money laundering and fraudulent activities, stressing the urgent need for enhanced vigilance and collaborative efforts to combat these financial crimes. He emphasized the crucial role of accountants in combating these crimes, stressing the importance of reporting suspicious transactions to the FIC.
The CITLFA second graduation and induction ceremony was in collaboration with the Department of Accounting, Finance and Banking of the GCTU Business School.

In all, 51 accounting professionals graduated with specialization in Chartered Tax Law and Forensic Investigation and Chartered Tax Law and Forensic Accounting and were inducted into the institute.