Augustine Addo, President of the Institute of Chartered Accountants, Ghana (ICAG), has made a compelling call for the integration of ethical finance and Environmental, Social, and Governance (ESG) reporting into modern business practices, describing them as essential pillars for sustainable business growth.
At the 5th CFO and Public Finance conference in Accra, Addo urged businesses to move beyond the traditional pursuit of profit and embrace financial strategies that align with moral principles and societal responsibilities.
“Ethical finance has come to stay. You cannot do business today without considering how to finance it ethically while ensuring a positive impact on society and governance structures,” he said.
He described ethical finance as a discipline that encompasses sustainable investing, socially responsible investing, and the incorporation of ESG considerations into strategic decision-making processes.
Evolving Role of the Accountant
In a broader reflection on the future of the accounting profession, the ICAG President emphasized the growing importance of ESG reporting and technological integration. He pointed out that the evolving role of accountants demands more than just technical expertise.
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“Yesterday’s accountant only needed technical competence in accountancy. Today’s accountant requires reporting skills, and tomorrow’s accountant must go even further—integrating multi-disciplinary expertise, ethics, and artificial intelligence,” he explained.
Addo identified four pivotal areas where Environmental, Social, and Governance (ESG) principles are reshaping the accounting landscape. First is the mastery of ESG-related financial reporting, which has become essential for accurate and responsible disclosures.
He also emphasized the need for accountants to integrate cross-disciplinary skills to manage diverse forms of capital. In addition, he highlighted the importance of promoting integrity and transparency through ethical leadership. Finally, Addo pointed to adopting emerging technologies—such as cloud computing, big data, and artificial intelligence—as crucial tools for modernizing and enhancing financial processes.
At the 5th CFO & Public Finance Awards, Addo was presented with the prestigious Outstanding Contribution to Accountancy Award. The award recognises Mr. Addo’s exceptional leadership and lifelong commitment to advancing the accountancy profession in Ghana.
Addo serves as the President of the Institute of Chartered Accountants, Ghana (ICAG). Before his presidency, he held the position of Vice President at ICAG. His professional background includes serving as the Director of Member Services at ICAG .
He has experience as the Acting Chief Executive Officer of the institute. He is an alumnus of the University of Cape Coast, where he completed his education.
