|
Responsible Committee |
Objective |
Strategies/Action Program |
Expected Outcome |
Time Scale |
|
Members’ Services |
Promote and Coordinate the services of Lesotho
Institute of Accountants to develop the accounting
profession for the benefit of members. |
Promote and Coordinate the services of Lesotho
Institute of Accountants to develop the accounting
profession for the benefit of members. |
Greater awareness of LIA services by members,
employers and public at large.
Increased membership and membership participation.
Improved service delivery. |
Continuous process. |
|
Education and Examinations |
Set up structures which will provide accounting
education and training to produce competent
professional accountants.
Maintain the professional competence in the face of
increasing change. |
Maintain the established joint scheme with ACCA and
pursue alternative option of a joint scheme with
SAICA.
Form a strategic alliance with NUL for ease of
transition from academic to professional education.
Pursue and agree a program of students attachment
with the Business Community through business groups
such as Association of Lesotho Employers (ALE) etc.
Foster relations with SIFE (Students In Free
Enterprise) to promote the entreprenuerial culture
amongst prospective graduates. |
Conclusion of an agreement with SAICA on an
educational program based on the SAICA model.
Increased enrolment of NUL graduates in the LIA
programs.
A formal arrangement concluded with business for
students attachment. |
December 2006.
January 2006
Mid 2005 |
|
Admissions |
Ensure that all those admitted into membership have
passed appropriate examinations and have also
acquired appropriate practical experience. |
Review the existing Admissions criteria and propose
enhancements.
Redesign work experience checklist and certification
requirements.
Design the Student Training Record and develop
training regulations and guidelines.
Supervise / monitor the training program for
trainees to ensure that necessary knowledge and
skills are acquired during the training period. |
Availability of revised criteria and checklists for
use when considering applications.
Availability of training records providing easy
evaluation and consideration of applications into
membership.
Increased membership |
June 2005
Beginning of 2006
2006 |
|
Technical, Accounting and Auditing Standards |
Ensure compliance with Generally Accepted Accounting
Practice ie International Financial Reporting
Standards , international Standards in Auditing and
ethics |
1.Enforce compliance to GAAP by members through
acquisition of IFAC and IASB manuals and annual
publications, and members’ handbooks.
2. Sensitise public on GAAP and take a leading role
on educating business and public at large on the
convergence of standards through seminars,
accounting and audit related journals, internet,
electronic media and business columns in newspapers.
3. Participate in the development of GAAP through
discussions, review and comments on IFRSs, IASs, and
Exposure Drafts.
4. Play a proactive role in the formation of rules
and regulations, particularly those not covered by
GAAP through reviews and comments. |
All members and businesses to have acquired IFAC &
IASB manuals and handbooks.
At least one article on GAAP with each newsletter
publication.
At least two seminars in a year on GAAP.
Readership of Accounting publications extending to
all categories of occupation, ie Lawyers, Doctors,
Engineers etc |
|
