The Liberian Institute of Certified Public Accountants (LICPA) and the African Professionalisation Institute (API) have signed a Memorandum of Understanding (MoU) to train Liberian accountants and auditors working in government.
LICPA was established in 1933 by an Act of the National Legislature as the Liberian Institute of Certified Public Accountants Limited, as it was also amended in June 2011 as the Liberian Institute of Certified Public Accountants to regulate the accounting profession in Liberia.
It is also empowered to set standards, license accounting and assurance practitioners, build capacity, and regulate all aspects of the accounting and assurance professions with the aim of strengthening the public accounting sector in the country.
On the other hand, API Learning Programmes aim to achieve the institutional goal through a partnership between the accountancy profession, represented by the Pan African Federation of Accountants (PAFA).
Speaking during the signing ceremony, LIPCA President Victor S. Tanwone expressed his satisfaction with what they initiated last year becoming a reality.
“I’m delighted today because what we started a year ago is coming to fruition. We believe in bringing back to Liberia anything positive we encounter because Liberia is what we have, and I believe it deserves good things,” Mr. Tanwone said.
“When I looked into it, I said to myself that it is an initiative we must pursue because the public sector is the biggest area for investment, and API seeks to professionalize the accounting profession,” he said.
LICPA’s boss added, “We have seized the opportunity, worked diligently with the CEO, and engaged other stakeholders, including the Accountant General and the Auditor General. Today, we have actualized the program.”
According to the LICPA leader, the program is a significant advantage for Liberia, and individuals working in the public sector should take it seriously.
“I want to encourage those in the public sector who are auditors to see this as a new stepping stone because it is a professional program with comprehensive benefits,” he said.
Tanwone emphasized, “Those who complete this program will be eligible for LICPA membership, and the Controller and Accountant General have assured that students from the public sector, accountants, and auditors will be admitted into the program, with funding available.”
He added, “This government has been investing in education, and as we speak, enrollment at the University of Liberia has doubled.”
Earlier, API CEO Evans Mulera praised the government of Liberia for its commitment to capacity building, stating, “We want to congratulate the government of Liberia because we are aware of the government’s policy and commitment to not only education but also professionalization as a means of transforming lives.”
Mulera added, “The leadership has briefed us sufficiently about the government’s decision to invest heavily in education, which will not only transform the country and its people but also provide individual citizens with opportunities to pursue their careers and dreams.”
He continued, “When we met with them in Gambia last year in May, I could see their passion and determination to see this become a reality. They called me and said they didn’t want our meeting to be just another talk show; they wanted to see action. So, today, we are grateful that the desired outcome has been realized.”