LICPA Boss delighted Over Signing of MOU With API

The Liberian Institute of Certified Public Accountants (LICPA) has signed a Memorandum of Understanding (MOU) with the African Professionalization Institute (API) with the aim to train Liberian accountants and auditors working in the public sector.

LICPA was established in 1933 by an Act of the National Legislature as the Liberian Institute of Certified Public Accountants Limited. It was amended in June 2011 as the Liberian Institute of Certified Public Accountants to regulate the accounting profession in Liberia. It is 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 at ceremony marking the penning of the agreement, the President of LICPA, Mr. Victor S. Tanwone, expressed great delight with the program, which according to him, was initiated last year. 

Mr. Tarwone explained that the program is a significant advantage for Liberia, and as such, individuals working in the public sector should take it seriously.

“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 pointed out. 

“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,” Mr. Tarwone asserted. 

The LICPA boss urged public sector workers, especially auditors, to take advantage of the program by seeing it as a new stepping stone to bettering their professional career. 

“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. 

Also speaking at the occasion held at the LICPA Complex in Congo Town, on the outskirt of Monrovia, Liberia’s Controller General, Janga Kowo stated that the George Weah-led administration has made and is making significant progress in the implementation of public financial management law.

“This is what we call PFM (Public Financial Management) in action. It cannot be mere rhetoric. Public Financial Management must focus on educating the people. The success of any government is measured by how public resources are invested,” he said.

He added, “This government has been investing in education, and as we speak, enrollment at the University of Liberia has doubled.”

For his part, API CEO Evans Mulera praised the Liberian government for its commitment to capacity building.

“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 said.

It could be recalled that Mr. Mulera sometimes last year met with LIPCA President Victor S. Tanwone, Auditor General of the General Auditing Commission Garswa Jackson, and other officials in Banjul, Gambia, to explore ways to launch the API program in Liberia, hence, the latest MOU is part of the fruits of those discussions. 

 “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,” told the gathering. 

“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.”

“The Liberian government’s commitment to education is in line with the African Union’s charter, values, and principles for public service administrators, which Article 9 emphasizes the need for education and professionalization. To achieve the goal of transforming the lives of people on the African continent in line with the 2063 agenda, which outlines several aspirations, the prudent utilization of public resources and the reduction in waste and corruption are crucial,” Mr. Mulera, among other things,  stated.