Introduction to the Ghanaian legal system and specific areas of business law — contracts, employment, company law, governance structures, ethics and criminal law. Essential for every finance professional.
Business and Corporate Law grounds the ICAG candidate in the legal framework that governs businesses in Ghana. A Chartered Accountant must understand contractual obligations, the rights and duties of directors and shareholders, employment law, and the legal implications of company formation and dissolution. This paper also introduces the ethical dimensions of professional practice — preparing candidates to navigate legal and moral dilemmas they will encounter throughout their careers.
Sources of law, court hierarchy, distinction between civil and criminal law, and the role of regulatory bodies.
Formation, terms, vitiating factors (misrepresentation, duress, undue influence), breach, and remedies.
Formation of employment contracts, implied terms, dismissal, redundancy, and employee rights under Ghanaian labour law.
Incorporation under the Companies Act, corporate personality, memorandum of association, share capital, and company types.
Duties and responsibilities of directors; rights and protections of shareholders, minority protection mechanisms.
Principles of good governance, board structures, the role of audit committees, and codes of governance practice.
Ethical frameworks, threats to objectivity, ICAG Code of Ethics, and professional responsibilities of Chartered Accountants.
Apply legal rules to the scenario given — quote the relevant principle, apply it to the facts, and state the outcome. Vague statements without application to the scenario score very few marks.
Company Secretary
Compliance Officer
Corporate Finance Adviser
Internal Auditor
Risk Manager
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