To
develop, enhance and effectively regulate the accounting
profession in Lesotho through:
Provision of internationally recognized relevant
education and training programmes, as well as ensuring
compliance
Provision of career and development opportunities for
our staff in order to enhance the public and all
stakeholders’ confidence in the accountancy profession
Creating value for members of LIA
VISION
To
be a world class regulatory and professional accountancy
body in Lesotho, that is an organization of choice to best
serve the interests of its local and international
stakeholders, and which underpins the national economic
development.
OBJECTIVES
provide a locally accepted and internationally
recognized qualification.
Raise the image and profile of the profession by taking
a leading role in matters of public interest.
Develop stronger links and strategic cooperation with
leading accounting bodies regionally and
internationally.
Develop stronger links and strategic alliances with
employers and business organizations.
Support members in providing quality services by
offering a range of technical services.
LEGAL BACKGROUND AND RAISON D'ÊTRE
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 for 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)
-
ex-officio
The Auditor General (GOL)
-
ex-officio
The Director (CAS)
-
ex-officio
Eight Chartered Accountants
-
elected on a three-year rotational basis
Four General Accountants
-
elected on a three-year rotational basis
Two Technician Accountants
-
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.
