LIA and Botho sign for MOU

  • 16 November, 2018

By Lineo Mabekebeke

MASERU (TmgLive) – Tuesday was a memorable day for two academic institutions - Lesotho Institute of Accountants (LIA) and Botho University - as they signed the LIA/ Botho University Memorandum of Understanding (MOU).

The two institutions, both with an education and training mandate, one for determination of competencies for education and training of aspiring accountants (the LIA) and the other for provision of tuition for higher education sub sector, have decided to forge a close partnership.

Under this agreement, Botho University shall provide tuition for the Lesotho Professional Accounting Programme (LePAP), an accountancy programme developed by the LIA, while LIA will be responsible for the management of examinations for the same programme.

“Botho University is also known for offering professional accounting programmes in Botswana, and it is one of the leading institutions offering such programmes. So, we wanted to have that programme in Lesotho. Then came the offer from LIA, to offer LePAP. It was so nice to say they made a proposal, and we accepted it whole-heartedly,” this was according to Botho University Dean and Head of Campus, Dr Abhishek Ranjan.

Meanwhile, the Lesotho Institute of Accountants President, Robert Likhang, said the LePAP programme is world standard, with reference to some few reasons such as it (the programme) being approved by the Council on Higher Education (CHE), a competent body that looks into programmes for approval purposes.

He said the other reason is that the programme meets the international federation of accountants’ standards on education, the same standards that are met by other highly recognised qualifications.

Mr. Likhang said: “We are all aware of the importance of accountancy in the private sector, but what is important is the role that the public sector accountants play in terms of public accounting and finance accountability.”

The LIA Vice President, Sebehela Selepe, as he passed the vote of thanks to the Ministry of Finance, said they wish to thank the government of Lesotho, through the Finance Ministry, for supporting them to secure funding to develop the programme from the European Union (EU).

“To the Ministry of Development Planning-NMDS, I would also wish to thank the government for sponsoring students who pursue the LePAP programme at Botho University,” Mr. Selepe said.

The collaboration is expected to go far in ensuring quality provision of LePAP, thus increasing the number of competent professionals in the country.

Established in 1997 as a single discipline training institute, developed into a multi-disciplinary college and Granted University status in 2013 in Botswana and in Lesotho in 2015, Botho University is fully approved by local regulators CHE in Lesotho and BQA & HRDC at Botswana.

Apart from Lesotho Campus there are other two campus located in Botswana plus a Blended and Distance Learning Campus. The total of eight programmes, seven under graduate programmes and one post graduate programme have undergone accreditation process. Four under graduate progarmmes have attained “Full accreditation” from CHE. Other three programmes have attained “Admitted to Candidacy”.

A total of seven programmes, six Botho University Programmes and one LePAP (LIA Owned) programme are on offer at Maseru campus. All Botho under graduate programmes have a mandatory, assessed six-month internship built in. All Botho programmes are developed based on market research and inputs from industry - formalized Industry Reference Forum.

The Lesotho Institute of Accountants (L.I.A.) was established by the Accountants Act of 1977, which gives the Institute the mandate of regulating the Accountancy practice in Lesotho.

Our mission is to develop, enhance and effectively regulate the accounting profession in Lesotho through: Provision of internationally recognized education and training programmes, as well as ensuring compliance.

This responsibility can further be broken down into the following functions: To determine the qualifications of persons for admission as members, to provide for training, educational and examination by the Institute or any other body of persons practicing or intending to practice the profession of accountancy and to set the standards and rules governing the practice and ensure that compliance with these is maintained.

Our aims and objectives:

. To provide a locally accepted and internationally recognized qualification.

. To raise the image and profile of the profession by taking a leading role in matters of public interest.

. To develop stronger links and strategic cooperation with leading accounting bodies regionally and internationally.

. To develop stronger links and strategic alliances with employers and business organizations.

.To support members in providing quality services by offering a range of technical services.

Arnold Schwarzenegger

“Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.” – Arnold Schwarzenegger