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Written by Abraham Morris-0886294820
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Tuesday, 07 August 2012 01:47 |
The Liberian Institute of Public Administration (LICPA) and the Liberian Institute of Certified Public Accountants (LIPA) on Monday signed a memorandum of understanding aimed at providing professional accounting knowledge for Liberians through professionalism.
The Director General of LIPA, Professor Harold Monger, said for the last three years, the two institutions have been collaborating in the deliberation of two professional programs, through which LIPA has been providing support and facilities while LICPA has been providing technical support of the program. At this point, LICPA and LIPA is working in the same direction, with LIPA engaged in the public sector professionalization and LICPA primarily engaged in the accounting profession in the country.
The MOU among other things desired the enhancement of existing professional cooperation between the two institutes in developing cooperation in professionalizing the accounting profession in Liberia; recognizing the importance of professional accounting inculcating economic governance and curtailing corruption in Liberia.
According to the MOU, its objectives shall endeavor to enhance cooperation between the institutes so as to promote the professionalization of the accounting profession in the country in accordance with international best practices and the law of Liberia.
The MOU also states the area and form of cooperation as the development of curriculum for accounting; conducting accounting and related training; assessment of the best practice of accounting in all sectors of the country; responding to the needs of the government on the advancement of accounting for the strengthening of cooperate governance; assisting the government in the ranking and classification of the accounting job within the government and the private sector and cooperate in any other ways to promote the professionalization of the accounting function in Liberia.
The LICPA and LIPA MOU also stated that the two institutions agreed to cooperate in the following forms, execution of training programs; exchange of information, research results, training materials; organization of seminars, symposium and conferences and any other forms of cooperation as mutually agreed by the two institutions.
The MOU also said the executing authorities responsible for the implementation of the MOU are the Director of LIPA and the President of LICPA , which shall also comprise of a steering committee whose job shall be to monitor and review the implementation of the cooperation under the MOU and both institutions under the MOU shall agree revenue sharing protocols on a project by project basis.
For his part, the President of LICPA, Nim’ne Mombo, stressed that LIPA is the official capacitating arm of government within the public sector while by law, LICPA is responsible to promote accounting in Liberia, and the intent of the two institutions coming together is to use the best resources in promoting professionalism in the country.
The MOU is intended to incorporate businesses in Liberia and create good and qualified accountants so as to curtail the importation of accountants from other countries by businesses and government.
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