Twenty five yars ago, Parliament passed the ICASL bill on the 10th December, 1987. It was gazetted some five months later on the 12th May, 1988, after having received Joseph Saidu Momoh's Presidential Assent. But the five months it took to be gazetted pales in comparison to the 27 years it took for Sierra Leone (since independence) to get round to legally institutionalizing this oldest of professions. in an accounting void, no meaningful activity an take place, economic or otherwise. ''Strong financial management is a key component of good public administration'', states Lara Taylor-Pearce; one of the foremost chartered accountants, in her 20110 Auditor General's Report. P. 10
The role of the professional accountant is primarily economic. over the last 100 years, a divide has come become company owners or investors, and company managers. as companies became too big and complex for owners to manage directly, they hired managers to run these companies. to get independent third parties advice on how well their businesses were being managed, auditing professionals were engaged to provide the owners some confidence and assurance. Education and training of Professional Accountants
2. Regulation of Professional standards and discipline in the profession and
3. Promoting the collective interest of its members
The ICASL Register today boasts some 66 Associates, 77 Fellows, and 16 practising firms. They serve a nation of some six million in one of Africa's currently largest growing economies. Since1990, ICASL has mainly depended on a JES (Joint Examination Scheme) with the ACCA (Joint Examination Scheme) with the ACCA (Association of Chartered Certified Accountants) UK for the professional training of its members. The current operations of the institute are categorised under this four main points:
1. Private tuition provider’s accreditation;
2. Students training contract;
3. Review of the ICASL Act of Parliament;
4. Audit quality review. This page is intended to create an interactive platform among the Institute and its numerous partners. We hope to make this page as interactive as possible. Please feel free to send suggestion to friends to help increase our following.
