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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. This responsibility can further be broken down
into the following functions:
To determine the qualifications of persons for admission as
members:
To provide training, educational and examination by the
Institute or any other body of persons practising or
intending to practice the profession of accountancy:
To set the standards and rules governing the practice and
ensure that compliance with these is maintained
The operations and funds of the Institute are managed by the
Council that is elected by the Annual General Meeting. In
terms of the Act the composition of the Council is as
follows:
|
The Accountant General (GOL) |
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ex-officio |
|
The Auditor General (GOL) |
- |
ex-officio |
|
The Director (CAS) |
- |
ex-officio |
|
Eight Chartered Accountants |
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elected on a three-year rotational basis |
|
Four General Accountants |
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elected on a three-year rotational basis |
|
Two Technician Accountants |
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non-voting members |
Council elects two key officers on an annual basis, namely,
President and Vice-President.
The Registrar is a full time officer of the Institute who is
responsible for its day to day administration. |
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