The Liberia Water and Sewer Corporation (LWSC) has launched a five-week intensive training program on International Financial Reporting Standards (IFRS) for its Finance and Accounting staff as part of efforts to strengthen financial management, improve transparency, and align the Corporation’s reporting practices with internationally recognized accounting standards.
The training, organized in partnership with the Banking Institute of Liberia (BIL), began on Saturday, July 4, and will run every Saturday for five weeks. It brings together 30 participants, including finance professionals, accountants, and other employees with financial management responsibilities.
According to the Corporation, the program is intended to enhance participants’ understanding and practical application of IFRS while improving the quality of financial reporting across the institution. The initiative also seeks to address existing gaps in financial reporting and financial management, ultimately promoting greater accountability and transparency within the Corporation.
Representing the LWSC Management at the opening ceremony, Deputy Managing Director for Administration, T. Wilson Gaye, emphasized the importance of continuous professional development in improving institutional performance and service delivery.
Hon. Gaye acknowledged challenges confronting the Corporation’s Finance Department in financial reporting and urged participants to fully commit themselves to the training by remaining punctual, actively participating in classroom sessions, and applying the knowledge gained in their daily responsibilities.
He also expressed appreciation to the Banking Institute of Liberia for its continued partnership with the Corporation, describing the collaboration as a significant investment in building the capacity of LWSC’s workforce.
Also speaking during the opening session, Mr. Prince Tugbeh, Director for Training and Head of Secretarial at the Banking Institute of Liberia, disclosed that all participants underwent a pre-training assessment designed to evaluate their existing knowledge of finance and accounting.
According to Mr. Tugbeh, the assessment results will enable facilitators to tailor course content to participants’ learning needs, ensuring more effective knowledge transfer throughout the five-week program.
The IFRS training forms part of LWSC’s broader commitment to investing in human capital development as the Corporation works to strengthen institutional capacity and improve operational efficiency.
Management believes that enhancing employees’ technical and professional competencies is essential to improving financial governance, increasing public confidence, and ensuring the effective management of public resources.
International Financial Reporting Standards are globally recognized accounting standards developed to promote consistency, transparency, and comparability in financial reporting.
Their adoption has become increasingly important for public institutions seeking to improve financial accountability, strengthen governance systems, and meet international best practices.
For the Liberia Water and Sewer Corporation, the initiative comes as the state-owned utility continues implementing reforms aimed at modernizing its operations, strengthening internal controls, and improving service delivery. The Corporation has in recent months undertaken several capacity-building initiatives for its workforce, reflecting a broader strategy to enhance institutional performance and better serve the Liberian public.
LWSC says it remains committed to continuous staff development, noting that investments in employee training are critical to improving organizational effectiveness, strengthening public sector accountability, and delivering reliable water and sanitation services across Liberia.
