By Winifred H. Kargbo
The Institute of Chartered Accountants of Sierra Leone (ICASL), in Partnership with the Council for Standard of Accounting, Auditing, Cooperate and Institutional Governance (CSAAG) last Friday concluded a two-day training workshop for accountants and auditors in Serra Leone.
Speaking during the opening ceremony at Hill Valle Hotel, Signal Hill, in Freetown, President of ICASL, Claudius William Tucker said the objective of the training was to achieve significant improvement in the financial accountability and governance arrangement in both the private and public sectors in the country.
He noted that the training workshop was to complement financial institutions in carrying out
their operations. He said the training would improve quality and standard in accounting in the country to international level. He said the training would enhance transparency in the disbursement and expenditure of funds in both private and public institutions.
In his statement, chair of CSAAG, Dr Omodele Jones said the training was geared towards implementing critical reform needs to deepen and further develop the accounting and auditing practices in Sierra Leone. He pointed out that the training was the first in the country and that participants will be introduced to Composite Financial Reporting Standards for private and public sector.
He maintained that the training was significant, in that it would build confidence in donors with regards the management of resources. He said it would also aid government institutions and non-governmental organizations to give comprehensive accounts of their finances.
Meanwhile, World Bank Country Manager, Ato Brown said public financial management was a key to the development of economy as it creates transparency and accountability. He pledged the institution’s support for ICASL and CSAAG and commended efforts by the government of Sierra Leone in the area of financial management.