Abstract
The Chartered Accountants Act, 1963 (Act 170) mandates the Council of the Institute to conduct or provide for the conduct of the qualifying examinations for membership of the Institute. In the conduct of the examinations, selected outstanding students are identified and awarded. The type of awards given out by the Institute over the years include Overall Level Best Award, Overall Best Student – First Attempt, Best Female Candidate, Best Subject Awards and ICAG Presidential Special Award. The awards are given to appreciate hardworking students and to motivate others to emulate the achievements of the awardees. The award package includes books, cash prizes and certificates. The study sought to examine the background of ICAG Award winners from 2010 to 2018 and its relevance to students and the Institute. The study employed the case study research design in the collection of the required data for the study, employing the mixed approach. The population and sample for the study was 258, made up of all awardees from 2010 to 2018. Data was collected mainly by the use of questionnaires from the student awardees, and an interview guide was also developed for the responses from in-house staff who had various roles to play in the award scheme. The results of the analysis are presented in figures and tables. The study revealed that there is a relationship between prior academic background of students and the receipt of an award at ICAG. Majority of awardees offered the Business Programme, in category A and B Senior High Schools, located in all regions of the country. At the tertiary level, the dominant programmes studied by awardees were Bachelor of Business Administration and Bachelor of Commerce, with the University of Cape Coast producing the majority of awardees. The study reveals further, that most of the awardees are high achievers in other levels of education. Respondents agreed that the SHS and tertiary institution attended, the programme offered, environment they studied in, prior academic background and the need 3 to prove themselves had an influence on the awards won. The study further provides evidence that there exists a relationship between students’ preparation for ICAG Examination and the receipt of an award in ICAG Examination. Majority of awardees prefer self-study at home than going for group discussions or attending tuition, although a good combination of the self-study and discussions is also rated high. The choice of the study approach is influenced mostly by time constraints, availability of study materials and finance. For those who preferred group discussions, smaller groups (of 2 – 5 members) were found to be more beneficial than larger groups. The discussions are better organized within academic environments (educational institutions) than at homes and offices. The ICAG College has produced about 45% of award winners over the years, followed by Just in Time in Kumasi (19%). The ICAG study materials were found to be very useful to awardees, with others relying on other recommended books. The research provides evidence that there is no direct visible relationship between the choice of an examination centre and the receipt of awards. The Zenith Centre in Accra has produced the most award winners, followed by the Cape Coast and Kumasi centres. The study revealed that majority of respondents were unemployed (most were students) before they received the award. In spite of that, only a few received job offers based mainly on the award(s) won. Respondents are of the belief that the award has not aided them in securing any jobs or educational opportunities. The package given out to students include cash, books and certificates. In terms of suitability, it is observed that award package given to awardees is suitable and commensurate, although much more can be done to improve upon what is given. The most recommended addition is job / internship opportunities. The study reveals that the relationship between the award winners and the Institute after the award ceremony is almost nonexistent. The Institute hardly contacts awardees for any 4 programme or project, just as awardees do not contact the Institute. The awardees have indicated their availability to assist the Institute in various capacities, including for ambassadorial, student counseling, student outreach, ushering at ICAG events, tutoring, consultancy services and research works. The rationale for the award scheme is to acknowledge excellence and to motivate students. The key directorates within ICAG involved in the award scheme are the Technical and Research (Examinations Unit), Students Services and the Finance and Administration. It is recommended that the policy document detailing the award criteria should be formalized as an official document of the Institute and published on the website of the Institute. This will promote transparency. The ICAG President Special Award should be reinstated and students who qualify under special circumstances awarded. The award should come with job/internship offers in any of the practice firms or even sponsor organisations. Co-sponsorship of awards is recommended, whiles the sponsors must also be promoted. A time period of three (3) years can be adopted for the review of the award package given out. A comprehensive softcopy data of all awardees need to be kept. The ICAG award scheme is very relevant and must therefore be continued by the Institute.
