President George Manneh Weah has told attendants at the opening of the Second ECOWAS/Association of Accountancy Bodies in West Africa (ABWA) Joint Congress on Thursday Liberia is open for business,.
President Weah expressed excitement that with the 2nd Economic Communities of West African States ECOWAS ABWA Joint Congress, being stage in Liberia, It tells that the oldest West African nation is now open for business and trade to everyone across the continent.
Weah, mentioned economics and trade cooperation would improve greatly and Liberia will definitely become a land of business for everyone, could love to visit Liberia for trade, the President told West African dignitaries and the audience at the Farmington Hotel in Harbel, Margibi County, Liberia.
Delivering the keynote address at the colorful event, President Weah also Underscored importance of Good Governance for Sustainable Development referencing the event’s theme “Good Governance and Sustainable Development for Regional Prosperity” as the Sub-region is searching for lasting solutions to the many problems of underdevelopment that are common to all the member States of ECOWAS.
He added that the theme corresponds with the core of the United Nations’ 2030 Sustainable Development Goals and the African Union’s 2063 aspirations for Africa.
He reminded the conferees that it was high time leaders of the Subregion satisfied present needs of citizens without compromising the ability of future generations to eventually satisfy theirs in order to achieve and maintain sustainable development.
President Weah said It is equally important that Member States ensure sustainable development in the sub-region, insisting that the continent itself must be based on the choices they make, and the processes by which these choices are made.
“This will not only ensure that there is broad consensus and acceptance of the governance processes that are used in our decision-making, but will also enable us to achieve stable and long-term economic growth, proportionate balanced economic, social development, and beneficial employment policies,” the President noted
He continued: “We will also be able to see a reduction of regional differences, growth of personal income and consumption, preservation of the environment for future generations, and efficient usage and allocation of natural resources as enshrined in the Sustainable Development Goals (SDGs).”
President Weah hailed the importance of the accountancy profession in countries of the ECOWAS Subregion, saying that Accountancy professionals, whether in the private or public sector, provide accounting expertise to guide financial planning and to maintain fiscal discipline.
He said accountants lead or assist their institutions with the development and implementation of their corporate strategy and advisory services, instituting “measures to reduce costs by being efficient in their services, and mitigate and hedge against various types of risks, while maintaining high ethical standards.”
He stressed that accounting forms the core of public trust, confidence and value, and provides the basis for transparency and probity in governance systems.
The Joint Congress, according to the Liberian Leader, is dedicated to showcasing the potential and strength of the accountancy profession in Liberia, the West African sub-region, and beyond.
He stressed that the Congress is intended to enhance the economic growth of both the private and public sectors of our regional block through the development of professional networks of competence and high standards.
“I believe that conferences and congresses such as this one provide a basis for knowledge-sharing amongst professional networks and can serve to advance the prospects of standardization and uplift the quality of the practice of accountancy within our sub-region,” he stated.
The President who said he was honored by the invitation extended him to serve as keynote speaker at the Conference welcomed the Conferees to Monrovia, and wished them a pleasant and enjoyable stay.
He expressed delight that Liberia has been chosen as the venue for the important and historic regional event, the 2nd Joint Congress of the Economic Community of West African States Commission (ECOWAS) and the Association of Accountancy Bodies in West Africa (ABWA).
He commended the ECOWAS Commission and ABWA for this joint initiative.
The President also commended the leadership of the Liberian Institute of Certified Public Accountants (LICPA) for its diligence and steadfastness in working with other regional professionals to host this historic Joint Congress in Liberia for the first time.
ABWA’s professionalism
For her part, the president of the Association of Accountancy Bodies in West Africa (ABWA) Madam Comfort Olu Eyitayo mni reminded professional accountants of their task in ensuring adequate financial and non-financial reporting and information across borders as well as promoting fiscal prudence on account of best practices in governance.
She described the partnership with ECOWAS as vital to the growth and development of the sub region. The ABWA president also encouraged accountants to play a sustained advocacy role in supporting their governments with strategic ideas that will position the sub region to be a major partner in the global development drive.
Madam Eyitayo mni said “It is time to unlock the vast potential of the sub region for prosperity and inclusive growth.
In their remarks, the ECOWAS Finance Commissioner Madam Halima Ahmed and the president of the International Federation of Accountants (IFAC) Mr. Allan Johnson, described the hosting of the 2nd ECOWAS ABWA Congress as a unique opportunity to formulate strategic plans in furthering the accountancy profession across the sub region.
Earlier was Mr. Victor S.B.K Tanwone president of the Liberian Institute of Certified Public Accountants LICPA who describes the hosting of the congress in Liberia as a boost for the LICPA and a mark of historic achievement for Liberia as a country.
The congress is an annual event is aimed at enhancing coordination among member organizations of ABWA and to formulate new plans to foster the agenda of the association.
The Accountancy Bodies in West Africa was established in August 1982 in Lagos, Nigeria with the aim to develop and encourage professionalism in accountancy in West Africa, strengthen the accountancy profession in member countries, enhance technical competence and ethical standards of members among others.
ABWA is a member of the Pan-African Federation of Accountants (PAFA) a regional organization of professional accountants and accountancy bodies in Africa.
