— Holds 7th AGM
The Liberia Institute of Certified Public Accountants or (LICPA) over the weekend held its 7th Annual General Meeting (AGM) where the growth and development of the institute was deliberated upon.
The meeting climaxed with the elections of new corps of officers to steer the affairs of the institution for the next two years.
LICPA President and Vice President, Victor S. Tanwore and Papin Daniels respectively, were re-elected to their respective positions, while Sam Mensah, was elected as a new council member. The president-elect ran on a white ballot (unopposed) — a feat many members of the group attributed to his outstanding performance during his first term.
The AGM brings together professional Certified Public Accountants in the country, who discussed the institution activities, including its finances and the implementation of its activities.
Tanwore told reporters shortly after the elections that he was elated that his colleagues reposed confidence in him for the second time to steer the affairs of the body for the next two years.
Several important topics were discussed during the plenary session of the meeting prior to the elections, but prime among those were the establishment of a sanction committee that will draft a sanction regime for the group; integrating the Syllabus Integration Program (SIP) into two additional universities in the country, and plans for robust engagement with counterparts across the sub-region.
The sanction regime, Mr. Tanwore said, is intended to ensure that members are accountable in terms of their professional behaviors.
“We owe the public good professional behavior, and to provide services that are in the interest of them. So we intend to establish this group to hold members accountable and bring them to book,” he said.
“The next issue of this administration is to integrate the SIP into two additional universities in the country, which we have already signed with Stella Maris, and want to collaborate with two additional institutions of higher learning,” he added.
In January, LICPA signed an MoU with the Catholic-run polytechnic to integrate the syllabi of the Institute’s two professional accounting credential programs into the accounting curriculum of the Polytechnic.
Mr. Tanwone signed for the LICPA, while SMP President, Sister Mary Laurene Browne, signed for the school.
The intent of the MoU was to enable the Institute assist the Polytechnic in raising accounting education to a world-class standard.
Tanwore described the signing of the MoU as a historic moment “for us all, especially for the accounting profession in our country.”
He, meanwhile expressed dismay over the manner in which students are taught the accounting profession, noting that there is a need for a paradigm shift in the teaching methodology.
He also added, “We also want to have robust engagement with our counterparts in the sub-region—making our positions felt regionally. We also want to boost our membership through qualifying more people into the system.”
The institute also intends to commence LICPA’s professional examinations through a US$270,000 program that is being initiated in collaboration with the World Bank.
“Through that program, we are going to bring on board a technical consultant that will put together the frameworks for the standardized examinations,” Mr. Tanwore said.
He promised to strengthen the SIP of the institution, and also collaborate with accounting syllabi at various universities in the country to strengthen and broaden the capacities of students studying the accounting subject.
A member of LICPA, Mohammed B. Korleh, said Tanwore’s re-election is confirmation of the group’s confidence in his administration. “Don’t relax! Take us to higher heights with God’s Blessings upon you,” he cautioned the president.
LICPA was established in June 2011 as a successor of the Institute of Certified Public Accountants to represent, promote, and regulate the accountancy profession in the country in the public interest.
LICPA is responsible for setting professional standards, licensing all practitioners, and supervising the conduct of all accountancy professionals. It is committed to building the capacity of its members to build a strong and vibrant accounting profession, and contribute to the country’s reconstruction efforts.