Accountants are Playing Vital Role in Public, Private and Non-Governmental Sectors in Liberia –Says WB Country Manager as She Installs Officials of LICPA

Press Release |

MONROVIA, February 19, 2024 -The World Bank Liberia Country Manager Georgia Wallen says Liberian accountants are among the silent heroes of Liberian society, playing a vital role in the public, private and non-governmental sectors.  Ms. Wallen made this statement over the weekend when she installed into office newly elected officials of the of the Liberian Institute of Certified Public Accountants (LICPA) at its 12th Official Inaugural Program held at the Sinkor Palace Hotel in Monrovia.

“Accountants are guardians and influencers. They are critical for promoting sound decision-making; solid financial management; and proactive risk management. Accountants make a difference,” the World Bank Country manager said. She described LICPA’s 12th inauguration ceremony as an important milestone, not only for LICPA but for Liberia.

Congratulating the new officials, Ms. Wallen emphasized that, “as you look to the future, I am delighted to note that LICPA has successfully formulated a comprehensive strategy for the upcoming five years. The plan delineates LICPA’s vision, mission, and objectives with clarity and foresight.” The World Bank, she noted, was very pleased to support the development of this strategic plan through the Public Financial Management Reform Institutional Support Project (PFMRISP).

Through the World Bank collaboration with LICPA, significant milestones were achieved.  Four of those milestones are:

1. Strengthening growth and development of accounting technicians nationwide. By enhancing skills and expertise, LICPA is contributing to the professionalization of the accounting sector in Liberia.  It is also bolstering economic resilience in particular the public sector.
2. Procurement of essential equipment.  LICPA has acquired state-of-the-art heavy-duty printers, a key investment to enhance efficiency to further LICPA’s outreach… and ultimately, its impact.
3. Public awareness initiatives. LICPA aims to foster a culture of responsible financial management and governance by engaging with the public.  The Bank-financed project supported LICPA to conduct extensive public awareness campaigns.  These are helping to effectively communicate the importance of financial literacy, transparency, and accountability.
4. Collaboration with universities. Recognizing the importance of partnership, LICPA has actively engaged with universities and educational institutions to promote accounting education and professional development.  Why? To nurture the next generation of accounting professionals and spur innovation in the field by forging strong ties with academia.

Concluding, Ms. Wallen again congratulated LICPA for its commitment to upholding the highest standards of professionalism, integrity, and excellence in the accounting profession in Liberia. “Liberia needs that… and Liberia deserves that,” she said. “With the dedication of your members and good partnerships, LICPA is well-positioned to navigate the challenges ahead and to drive positive change that contributes to Liberia’s economic development and prosperity.”

Those installed were Mr. Papin Daniels, Jr., President; Mr. Mohammed B. Korleh, Vice President; and Mr. Kofi Abedu-Bentsi, Sr., Council Member.