Accountants must adapt to digital transformation – Dr. Apaak

Deputy Minister for Education, Dr. Clement Apaak, has urged accountants to embrace digital transformation and innovation to remain relevant in a rapidly evolving global economy.

Dr Apaak made the call while presenting the Ministry of Education’s report at the 62nd Annual General Meeting of the Institute of Chartered Accountants Ghana at Mawuli Senior High School in Ho in the Volta Region.

He said the growing integration of emerging technologies into financial management and accounting practices required professionals who were adaptable, resilient and forward-looking.

“In light of the accelerating pace of technological advancement and digital transformation, the Ministry further emphasised the necessity for graduates to remain adaptable, resilient, and forward-looking in their professional practice,” he stated.

Dr Apaak noted that the increasing use of data analytics, artificial intelligence and digital financial systems was reshaping the accounting profession beyond its traditional role.

“The integration of emerging technologies such as data analytics, artificial intelligence, and digital financial systems into accounting and financial management processes requires practitioners who are not only technically proficient but also agile and responsive to change,” he said.

According to him, accountants must adopt innovative and solution-oriented approaches to address complex financial and governance challenges in both the public and private sectors.

The Deputy Education Minister also commended the Institute of Chartered Accountants Ghana (ICAG) for its continued contribution to strengthening financial governance, accountability and transparency in the country.

He described the collaboration between the Ministry and ICAG as strong and purposeful, adding that the partnership had supported several initiatives aimed at capacity building and institutional development.

Dr Apaak further praised the Institute’s efforts in promoting sustainability reporting standards and aligning local practices with global benchmarks.

“The Ministry further applauds the Institute’s decision to adopt and promote the standards issued by the International Sustainability Standards Board,” he stated.

He said the adoption of the standards would improve the quality, consistency and reliability of sustainability-related financial disclosures, while supporting informed decision-making and efficient capital allocation.

Dr Apaak encouraged members of the Institute to continue upholding integrity, professionalism and accountability in their work to strengthen public confidence in the country’s economic system.