By Winifred H. Kargbo
The Institute of Chartered Accountants of Sierra Leone (ICSL), in partnership with the Council for Standards of Accounting Auditing Corporate and Institutional Government (CSAAG), last Friday completed the second phase of the critical reform programme for accounting and auditing professionals in Sierra Leone at the Hill Valley Hotel in Freetown.
The workshop was part of a year-long training and related activities geared towards implementing critical reforms needed to deepen and further develop accounting and auditing practices in the country, in line with a growing economy and international best practice.
Chairman and vice president of ICSL, Brinsley Kwame Johnson, said in his keynote address that small and medium size entities have the potential to impact the country’s economic growth and development, as they are the growth engines of world economies, albeit their success rates are not as good as it could be.
He said the International Finance Cooperation has indentified four key barriers militating against SMEs in Sierra Leone as costly business enabling environment, such as poor infrastructure, legal/regulatory framework, fragmented linkage to profitable market opportunities, poor access to affordable financial services, and limited opportunities to build essential skills and knowledge.
He expressed hope that the ‘Agenda for Prosperity’ would achieve its critical goals, including building a stable economy founded on private sector growth and diversity across several competitive sectors to enhance the economy of the country and strengthen human development.