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Accountants warned not to cut corners

Ntsebeng Motsoeli

 MASERU — Auditor-General Lucy Liphafa has warned accounting graduates against obsession with titles before they get to grips with the demands of the profession. 

Liphafa was addressing 289 Centre for Accounting Studies (CAS) graduates at the institution’s 30th graduation ceremony at ‘Manthabiseng Convention Centre in the capital Maseru yesterday.

She urged the graduates to understand the nitty-gritties of accounting before they could call themselves experts.

“Take time to learn the professional ropes in the industry and build your competency before you become obsessed with titles,” Liphafa said.

“I know that young graduates have high hopes and sometimes wish to climb the professional ladder from the top.

“I hope you will realise that passing examinations is but one part of your professional career.

“The industry out there will reward you for performance at work and not only for passing professional examinations.”

Liphafa said it was critical for accountants to adhere to the profession’s ethics.

“I would like to appeal to graduands to serve this country efficiently, with integrity and ethically,” she said.

“Resist the temptation to cut corners and distinguish yourselves as a new generation of progress and professionalism.”

The auditor-general also urged the Lesotho Institute of Accountants (LIA) to keep a close eye on the conduct of its members.

“Looking ahead, we are expecting that the Lesotho Institute of Accountants will pay closer attention to the conduct of its members to ensure that the profession is beyond reproach,” Liphafa said.

“The LIA brand should reflect on each and every one of you who call themselves accountants.

“Therefore, you must protect the brand by making sure that all of those associated with the institute will continue to be held in high regard.”

Speaking at the same occasion, LIA president Lerata Pekane reiterated Liphafa’s call for ethical conduct in the profession.

“I am happy to confirm that the demand for accountants continues to be more prevalent than ever before,” Pekane said.

“It is however worth noting that to become an accountant you need a lot more than just to pass academic exams.”

He said there was need to boost the private sector if Lesotho’s economy was to grow.

“Tough times call for extraordinary measures,” Pekane said.

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