By 1928 many European companies in the Gold Coast were engaged in business activities such as mining, shipping, manufacturing, insurance, accounting and even retail trading. This period that saw the rise of expatriate accounting firms to provide professional accounting and auditing services for parent companies in Britain and other European countries. The first of these expatriate accounting firms was Casselton Elliot and Company (Casselton Elliot & Co.) from Britain. Before the establishment of the private expatriate accounting firm, Casselton Elliot & Co., European companies had to send bulky documents to their respective countries for audit because there were no professional accountants in the Gold Coast.
The first of these expatriate accounting firms was Casselton Elliot and Company (Casselton Elliot & Co.) from Britain. Before the establishment of the private expatriate accounting firm, Casselton Elliot & Co., European companies had to send bulky documents to their respective countries for audit because there were no professional accountants in the Gold Coast.Edward Casselton Elliot, the founder and then senior partner of Casselton Elliot & Co., started the first expatriate accounting office in Accra, in 1928, then in Jos and Lagos in Nigeria, Freetown in Sierra Leone and Bathurst (Banjul) in Gambia. The Accra office was later moved to Tarkwa in the same year due to the concentration of gold mining companies in that part of the country.
In the first years of the establishment of Casselton Elliot & Co. (C.E. & Co.), none of the partners was based in West Africa; the company had expatriate accountants and office clerks running these branches. It was not until early 1930 that N. Keith Silver, a resident partner was stationed in Accra, who also oversaw the activities of the Sierra Leone and the Gambia practices. Some major clients of C.E. & Co included Barclays Bank Dominion, Standard Bank, CFAO, PZ, Shell, Mobil, Total, United Trading Company (UTC), Ashanti Goldfields and General Electric, among others.
An earlier law that gave the absolute right to government auditors to audit Town Councils was amended in 1937 and marked the beginning of a private accounting firm auditing government agencies and departments in the Gold Coast.Casselton Elliot & Co took over auditing of government agencies and departments in the Gold Coast due to the loss of confidence in the audit department of the Auditor General’s office. Two of the officers in the Accra Town
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