According to the president of LICPA, Arthur W. B. Fumba, the creation of the Liberia Revenue Authority (LRA) and the Ministry of Finance and Development Planning are “very good reform initiatives” for public financial management in Liberia.
Fumba made the commendation Thursday when he and other officers of LICPA were inducted into office to run the affairs of the organization for two years held at the Monrovia City Hall.
He indicated that these initiatives by government are essential in ensuring accountability and transparency in public transactions, noting that it will be incomplete if the offices of the Comptroller General and the Accountant General are not removed from the Ministry of Finance and Development Planning.
He stressed that these two offices should be detached from the Finance Ministry and serve as separate entities of government as is done in other countries globally.
The LICPA president emphasized that the removal of the offices of the Comptroller General and Accountant General will enhance the check and balance system in public financial management.
Fumbah emphasized that the introduction of appropriate accounting standards both in the public and private sectors will serve as good tools in the fight against corruption, and also enhance government’s efforts to attract foreign investors to Liberia.
LINA CB/TSS/PTK
LICPA Lauds Government For De-concentration Program
31 July 2015, 7:25 pm Written by Calvin Brooks, LINA
MONROVIA, July 31 (LINA) - The Liberia Institute of Certified Public Accountants (LICPA) has lauded the Liberian Government for decentralizing and de-concentrating governmental affairs to other parts of the country.
According to the president of LICPA, Arthur W. B. Fumba, the creation of the Liberia Revenue Authority (LRA) and the Ministry of Finance and Development Planning are “very good reform initiatives” for public financial management in Liberia.
Fumba made the commendation Thursday when he and other officers of LICPA were inducted into office to run the affairs of the organization for two years held at the Monrovia City Hall.
He indicated that these initiatives by government are essential in ensuring accountability and transparency in public transactions, noting that it will be incomplete if the offices of the Comptroller General and the Accountant General are not removed from the Ministry of Finance and Development Planning.
He stressed that these two offices should be detached from the Finance Ministry and serve as separate entities of government as is done in other countries globally.
The LICPA president emphasized that the removal of the offices of the Comptroller General and Accountant General will enhance the check and balance system in public financial management.
Fumbah emphasized that the introduction of appropriate accounting standards both in the public and private sectors will serve as good tools in the fight against corruption, and also enhance government’s efforts to attract foreign investors to Liberia.
LINA CB/TSS/PTK