ACFE Ghana Chapter launched

The Ghana Chapter of the Association of Certified Fraud Examiners (ACFE) has been launched in Accra with a call on heads of institutions to ensure high ethical standards of professionalism.

Dr Kwesi Akyem Apea-Kubi, Deputy Minister of the Interior, who inaugurated the Association, said the move would help curb the high incidents of corruption and fraud in the country.

ACFE is the world’s largest anti-fraud organisation and premier provider of anti-fraud training and education needed to fight fraud more effectively.

It also provides educational tools and practical solutions for anti-fraud professionals, colleges and universities through initiatives such as seminars and conferences.

Dr Apea-Kubi noted that the collapse of many organisations, massive investment losses, significant legal costs and erosion of confidence in capital markets as well as economic breakdown were the result of fraud and corruption.

He said reports of fraudulent conducts perpetrated by key corporate executives had negatively impacted the reputation, brands, and images of many organisations around the globe.

Dr Appea-Kubi stressed that the recent scandals around the globe had triggered public concerns and expectations for organisations to take a “no fraud tolerance” attitude in corporate governance.

He stated that fraud reduced economic growth by lowering incentives to invest for both domestic and foreign entrepreneurs, which had huge adverse effects on private investments.

Dr Apea-Kubi said eliminating fraud and corruption was a prerequisite for societal and economic progress and that good governance and transparency were building blocks of modern democratic societies.

“As a way of strengthening institutions of State to fight against corruption and to provide the needed teeth to bite, the Serious Fraud Office has been reengineered and named the Economic and Organised Crime Office with prosecution powers to wage a concerted war against corruption,” he stressed.

Mr Kofi Tsikata, an official of the World Bank Office in Ghana, said a report from the Bank revealed that nearly one trillion dollars was lost through corruption and fraud globally every year.

He said this was as a result of the reluctance of some officials to help eradicate the canker from the society, which was also affecting business entities.

He called on heads of institutions to embark on regular check ups to find out about the trend and get rid of all ghost names on their pay rolls to help build a better nation for all.

Mr Tsikata advised the Association to collaborate with Parliament and the media to share ideas since they played a crucial role in the fight against corruption.

Mr Geoffrey Oteng Arthur, President of ACFE, Ghana Chapter, said the Association had 40 members in Ghana and more than 50,000 in more than 140 countries.

Membership is open to all who aspire to fight business and white-collar crime irrespective of their professional background.

Source: GNA

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