LICPA Moves To Strengthen Accounting Curricular -Launches Awareness at UL, CU and Other Higher Institutions
In fulfillment of the strategy of the Mr. Victor SBK Tanwone Sr led leadership to further professionalize and strengthen the accounting curriculum in tertiary institutions in the country, the Liberia Institute for Certified Public Accountants (LICPA) over the weekend toured some higher institutions in four counties, Bomi, Bong, Grand Bassa and Grand Cape Mount Counties to create awareness of its “Accounting Technician Scheme West Africa (ATSWA) syllabi integration program (SIP)
In an interview via mobile phone, Mr. Tanwone said the rationale to integrate the SIP is structured within the “Professional Academic Partnership (PAP) strategy under which LICPA Will partner with universities and colleges to conduct Training of Trainers” workshop for current lecturers of the Business Department of the target institutions due to the lack of adequate professionals to teach at all target institutions. He said the trained lecturers will be regularly monitored and evaluated by LICPA’s Education and Training Committee and that the target institutions will have no part in the conduct of Examinations
Mr. Tanwone who was recently re-elected on a white ballot to lead LICPA for the next two years said in order to effectively execute the engagement with the institutions, each institution was assigned with a team headed by a leader and give the breakdown as Cuttington University, Suacoco, Bong County having Sam Mensah as team leader with Alex Claine as member while the Bomi County Community College which was paired with the University of Liberia-Davis Straz Sinje Campus had Booker Harris as team leader with President Tanwone and Nicholas S. Peters as members. Grand Bassa County Community College was visited by two persons, Kofi Abedu-Bentsi as team leader and Hector Wuor, Executive Director as a member.
The Accounting Technicians Scheme West Africa(ATSWA) program is designed to produce middle level accounting technicians within the West African Sub-region with the objectives to provide a recognized qualification for the accounting and auditing staff employed in the public sector, industry, commerce and in various offices or practicing accountants and help meet the need for middle level accounting personnel in the economy especially for the accounting and finance departments of various government agencies and corporations.
The ATSWA syllabus is divided into 3 parts and each part consists of four (4) subjects. An an AAT Certificate is awarded upon successfully completing the Accounting Technicians Scheme of West Africa (ATSWA) Examinations. The duration for the completion of the 3 level examination is a minimum of 15 months for those with ordinary level certificate and 6 to 12 months for those with higher certificate but not a degree certificate.
Information made available to Analyst from LICPA about the Syllabi Integration Program has it that it seeks to suitably integrate its accounting credentialing programs (Accounting Technicians Scheme, West Africa(ATSWA) and the institute’s full Professional Accounting Qualification Program) into the accounting curricula of Liberian Universities and Colleges. The objective is to bring accounting education in Liberia to a global standard which over time will greatly improve employment and other opportunities for accounting graduates from local universities and colleges.
“By introducing world-class accounting syllabi, it will improve the quality of accounting education in Liberia; give confidence to employers in the products of our schools and thereby take away the need (or the excuse) for businesses and NGOs operating in Liberia to import accountants into the Country. Finally, it will also give graduates from participating schools confidence in their own professional worth as accountants”, the information further stated.
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. It was established by an Act of the National Legislature in June 2011 to regulate the accounting profession in Liberia. The LICPA is empowered to set standards, license accounting and assurance practitioners, build capacity and do all things appertaining to regulating the accounting and assurance professions aimed at building a strong and vibrant public accounting sector in the country.