“Accounting is about Trust”
Misapplications of funds in government and other places in the Liberian society, for which the country is graded high in corruption may not necessarily be because monies are embezzled, says Gabriel M. Wureh, a US trained Certified Public Accountant (CPA) who will conduct an Accounting seminar in Monrovia early next month.
According to him, many times it is because accountants also do not have enough knowledge as to how to balance books and ledgers.
He indicated that though many Liberians have acquired degrees in Accounting, they still lack certain basic knowledge to perform simple but important tasks on the books.
Responding to a common perception in Liberia that people study to become accountants mainly to steal money, Mr. Wureh asserted: "Accounting is not about making fast money; it is about building trust in managers. It is about providing adequate and substantial information on transactions and assets of an entity to enable managers make sound decisions that will enhance the growth of that institution," he explained in a recent interview with the Daily Observer.
Mr. Wureh is a managing partner of the accounting firm Wureh-Walters-Wureh (Liberia) Incorporated and associates with the GW & Associates (Certified Government Financial Managers & Certified Public Accountants) of Bowie, Maryland, U.S.A.
The accounting seminar which is scheduled for June 2 will focus on financial accounting and reporting; internal control; and automated accounting systems.
"I have also visited a number of places," he said, "and seen people still working with pen and pencil to build accounting records; something he described as outdated, replaced by technology."
Mr. Wureh also aims to prepare candidates to sit and pass the American Certified Public Accountants (CPA) exam.
Participants will pay a fee of US$500 to cover costs of learning materials provided, as well as breakfast and lunch, over the course of four days at the Musu's Corporation (Musu's Spot) in Congo Town.