By Lewis S. Teh
The Government of Liberia through the Liberia Institute of Certified Public Accountants or (LICPA) says the upcoming Association of Accountants Bodies in West Africa or (ABWA) regional conference scheduled in Liberia next year will boost the government’s revenue collection envelope.
LICPA Vice President-elect, Mr. Papin Daniels, Jr. said Liberia is expected to host more than 250 delegates from the sub-region in the second joint conference of the Association of Accountants Bodies in West Africa or ABWA, noting that when those delegates arrive here, they will have to pay hotel bills, buy food and those hotels will pay taxes to the government which will be a massive revenue collection for the country.
He made the statements in response to an inquiry about the economic benefit of the upcoming sub-regional conference in a news conference Friday, at the close of the institution’s annual general meeting.
Addressing reporters, the president of LICPA, Mr. Victor S. Tanwone said consistent with the provision of the LICPA Act it was incumbent upon the council to host once in a year an annual general meeting of members, adding that it was a two years conclusive work of the council and was required by the LICPA Act to elect new members of the council.
As you may know, today is our annual general meeting where the LICPA elect new members; I and my vice president were reelected, along with a new member also.”
Mr. Tanwone said the institution has an agenda that highlights all major things that were discussed starting with the recognition of graduates as professional accountants and their induction into office, having been licensed to practice accounting in Liberia.
The ceremony was characterized by the presentation of annual financial statements for next year which was contained in the president’s annual report, highlighting achievement and a building that was acquired to be used as Secretariat of the LICPA since the founding of the institution in 1933.
“Our mandate is contained in the LICPA Act; council leads the strategic affairs of the institute, and what we envision next year is to strengthen the Secretariat and invest in those things we think that will make LICPA grow such as the professional examination and to build capacity with public sector institution.”
He disclosed that LICPA has rolled out three programs with the LRA, and two with the Ministry of Finance and Development Planning founded by development partners, noting that those are intended to bring in more revenue to the institution and to professionalize the public sector that has been a key requirement by the donors.
Giving some achievements of LICPA under his leadership, Mr. Tanwone said his leadership from November 15, 2018, to date was able to generate a total of US$ 544,041.54 net of CPDs membership, levied dues, and government subvention.
That, he said was made possible through the LICPA strategy “professionalizing the public sector.”
The Liberian Institute of Certified Public Accountants (LICPA) is the successor of the Institute of Certified Public Accountants, Liberia (ICPAL) which was established by an act of the National Legislature in 1933. Editing by Jonathan Browne