LICPA Launches Liberian Oriented Accounting Textbooks

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The Liberia Institute of Certified Public Accountants (LICPA) yesterday launched three textbooks on Liberian Taxation, Business Law and Public Sector Accounting that will give students pursuing advancement in Accountancy to understand their profession more clearly in the Liberian context.

Yesterday’s launch was held at the Monrovia City Hall where a little over 50 registered students, wishing to sit the Accounting Technician Scheme West Africa (ATSWA) test for advance training in Accountancy, gathered.

Also in attendance were Samora Wolokolie, Deputy Minister of Finance for Fiscal Affairs, Yusador S. Gaye, Auditor General of Liberia, Chief Davidson Chizuoke Stephen Alaribe, Chairman of ATSWA Harmonization and Implementation Committee,  Representatives Hanson Kiazulu and Dickson Siebo, and Deputy Education Minister for Instruction, Alexander Duopue.

LICPA vice president Victor S. Tanwone, said the launch brings a new day in his professional life, because it was the first in the country after other countries have forged ahead by producing books about their own taxation law, business law and public sector accounting.

Students who have registered to take LICPA’s ATSWA test are over 700, but less than that number attended yesterday’s ceremony.

Tanwone then urged the students to strive towards overcoming phobia of writing tests to make use of the books launched, because it is from there the test in September will be drawn.

He said it is to the students’ advantage, because they will not pay for air tickets to travel to another country to sit the test, reflecting different country’s tax system as others before them did.

Minister Wolokolie, who represented Finance and Development Planning Minister Samuel Tweah, expressed his support to the book project and pledged to give LICPA US$500 as contribution towards enhancing professional Accountancy program.

He further promised to purchase some copies of the books, to distribute them to students who may not have the financial potency to purchase one.

Like Wolokolie, Rep. Siebo promised to purchase some copies for students, while Rep. Kiazolu also promised to purchase nine copies for students and each from the three sets for his personal use.

Chief Alaribe urged the students to give more attention to their lesson and the profession to become the best, noting that because European football clubs have made themselves the best, they are making money from Africans, including Liberians, through talents. He said students presenting themselves as the best will draw attention to their talents that will be in demand.

Meanwhile, LICPA President Stephen D. Seimavula, reiterated his call for budgetary support to the institute on grounds that LICPA is becoming overburdened by a decision it took to recruit students free of charge, because they cannot afford to pay the cost of attending the training.

He recalled that Accountancy is essential to the development of any country, “besides figuring out numbers, accountants also serve as detectives to track corrupt practices and provide direction for government in implementing its fiscal policy.”

Deputy Minister Wolokolie and Rep. Kiazolu expressed their commitment to protecting allotment in the national budget for LICPA, and advocating for an increment in the next budget.

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