Risk Management Tops Accountants� Roundtable

Speakers at the just-ended ACCA Ghana Accountants for Business Roundtable discussion under the topic, �The Finance Leader/Chief Finance Officer�s (CFO�s) New Environment, has admitted that risks management is paramount in business.

The speakers were Mr. Vincent Ritcher, Finance Director, Shell Ghana Limited; Mr. Sanjay Rughani, Executive Director, Finance, Standard Chartered Bank; Mr. Benjamin Apeakorang, PriceWaterhouse Coopers; Mr. Felix Nana Sackey, Managing Partner, Deloitte Ghana; and Mrs. Pearl Esua-Mensah, Deputy Managing Director, UT Bank.


The speakers said that for every business to thrive, emphasis should be placed on minimizing risk as this will ensure the growth of the business. A major focus for accountants, the speakers noted, should be helping organizations, as �business partners� with their strategy, as well as remodeling financial processes to drive operating efficiencies, strengthening controls and creating more effective performance measurement processes.

Accountants were also called upon to improve investor relations while managing the asset base more carefully and even being involved in social responsibility issues.

Meanwhile the speakers emphasised that with the recent global economic downturn, companies have inevitably shifted priorities of CFO�s from maximizing profits to managing cash flow, working capital and liquidity and this shift has put the spotlight-and pressure-on the CFO.

The Association of Chartered Certified Accountants (ACCA) is the global body for professional accountants.

Their aim is to offer business-relevant, first choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.