By: Julius Konton
House Speaker Richard Nagbe Koon has pledged to advocate for support toward the reconstruction of the headquarters of the Liberia Institute of Certified Public Accountants (LICPA), following a visit to the professional accounting institution in Congo Town on Monday.
Speaker Koon, who is himself a professional accountant, visited the LICPA headquarters at the invitation of the institution’s leadership to assess its operational needs, institutional challenges and infrastructure requirements.
A major concern presented during the engagement was the deteriorating condition of the LICPA headquarters. Officials told the Speaker that although the property belongs to the institution, the existing structure has developed visible cracks and is no longer considered adequate for the organization’s growing responsibilities.
The institution is therefore seeking assistance to construct a modern, safe and functional headquarters capable of supporting its regulatory, professional-development and administrative functions.
Responding to the concerns, Speaker Koon pledged to use his position in the Legislature to advocate for assistance, including efforts toward securing an appropriate budgetary allocation or other institutional support for the reconstruction project.
The Speaker said his professional background in accounting gives him a particular understanding of the importance of a strong and credible accounting profession, while his current position provides an opportunity to help bring greater attention to the institution’s needs.
The proposed intervention comes at a time when Liberia is seeking to strengthen public financial management, fiscal transparency and institutional accountability.
The International Monetary Fund has projected Liberia’s real GDP growth at 5.5 percent in 2026, supported largely by expansion in mining, manufacturing and construction.
As the economy expands, the quality of financial reporting, auditing, public expenditure management and corporate governance becomes increasingly important.
LICPA traces its institutional roots to 1933, when the Institute of Certified Public Accountants of Liberia was established by an Act of the National Legislature.
The organization remained largely dormant for decades before being revived in the 1980s and renamed the Liberian Institute of Certified Public Accountants.
Its modern statutory framework was significantly strengthened through the LICPA Act of June 3, 2011, which established the institution as Liberia’s professional body for regulating and promoting the accountancy profession.
The organization has therefore played a role in Liberia’s financial governance landscape for more than 90 years, making its institutional infrastructure an important part of the country’s professional and regulatory history.
Under the 2011 Act, LICPA is responsible for regulating the practice of accounting and accounting-related consultancy, establishing and enforcing accounting and auditing standards, licensing qualified practitioners and firms, promoting professional education, enforcing ethical requirements and maintaining quality-assurance mechanisms.
The institute also advises the Government of Liberia on public-sector accounting matters and has responsibility for professional development and disciplinary processes within the profession.
Internationally, LICPA is a member of the International Federation of Accountants (IFAC) and participates in regional professional-accountancy networks, including the Association of Accountancy Bodies in West Africa and the Pan African Federation of Accountants.
The institute says its professional qualification programs have also expanded over time.
Liberia began administering the Accounting Technician Scheme, West Africa, in 2008, followed by professional qualification examinations in 2011, reflecting efforts to develop a stronger pool of locally trained accounting professionals.
Infrastructure and Institutional Capacity
For LICPA, the proposed headquarters reconstruction is therefore more than a construction project.
A modern headquarters could provide improved space for professional examinations, continuing education, regulatory activities, meetings, administrative operations and engagement with government, businesses and development partners.
The institute currently operates from LICPA House in Congo Town, where its headquarters serves as the administrative center for the country’s professional accountancy regulator.
Speaker Koon’s intervention could consequently open a broader conversation about investment in the institutions responsible for ensuring that Liberia’s public and private sectors maintain credible financial reporting and auditing standards.
Liberia’s economic recovery and development agenda increasingly depends on stronger public financial management, investor confidence and transparent use of public resources.
Against this backdrop, professional accountants and auditors occupy a critical position in verifying financial information, strengthening corporate governance and helping institutions comply with national and international standards.
For Speaker Koon, the condition of LICPA’s headquarters presents an opportunity to link infrastructure investment with the broader national objective of strengthening accountability.
His pledge now places the Legislature and relevant government stakeholders before a practical challenge: translating the commitment into a concrete financing and reconstruction plan.
If realized, the proposed headquarters project could provide LICPA with a safer and more modern institutional base while reinforcing Liberia’s broader efforts to professionalize financial management and strengthen public confidence in the country’s accounting and auditing systems.
