The Liberia Institute of Certified Public Accountants (LICPA) has unveiled and presented its strategic plan for 2014-2016 to its respective stakeholders.
LICPA’s President Nim’ene Mombo speaking at the ceremony held yesterday in Congo Town said the presentation of the exercise is intended to acquaint stakeholders, the Government of Liberia (GOL) and consumers of work done by accountants.
Mr. Mombo said the strategic plan which is a road map will guide the Institute for a period of two years, saying, “From this draft strategic plan we will have an action plan that will guide accounting principle in the country.”
The LICPA President said the institute is currently collaborating with various universities to ensure upgrading standard in the profession.
According to the LICPA draft Strategic Plan, the institute intends to develop and enhance internal capacity so that LICPA becomes robust, effective and relevant to the socio economic development of Liberia.
The plan also intends to develop functional department and structures; namely Student S Department, Members Services Department, Examination Department; Technical Department, Finance and Administrative Departments.
Accordingly, the plan seeks to constitute standing committees of the council which could include the Admission and membership Administration Committee, Education, Training and Certification Committee; Audit Quality Assurance Control Committee; Professional Standard and Ethics Committee; technical and Research Committee; Publicity and Public relations Committee and Elections Committee adapted from IFAC.
The LICPA Plan also intends to develop sound administrative system, policies and procedures as well as develop succession plan and strategy for LICPA and develop financial sustainability strategy.
It also seeks to strengthen LICPA’s technical and advisory services for members and other stakeholders as well as put in place a drive to increase LICPA Student members’ enrollment through syllabi integration program (SIP).
The LICPA strategic Plan for 2014-2016 also seeks to complete MOUs with collaborating private and tertiary educational institutions that are offering accounting programs in Liberia and secure funding for the implementation of the MOUs with the collaborating institutions.