Accountants weigh in on IFMIS debate

MASERU –– Lesotho Institute of Accountants (LIA) technical manager Moahloli Mphaka says the benefits of the government’s new financial system can only be realised through proper training.

The government’s new integrated financial management information system (IFMIS) has not been appreciated mainly by civil servants who have struggled to use it.

Government goods and service providers have complained of payment delays which have been blamed on IFMIS.

The government started implementing IFMIS on April 1, replacing the Government of Lesotho Financial Information System (GOLFIS).

The government was increasingly finding it difficult to run and control its finances using GOLFIS.

Mphaka said he had “no problems” with IFMIS.

He said IFMIS can be successfully implemented with proper training.

“I would like to challenge the government to train those who will be using IFMIS,” Mphaka told the Lesotho Times this week.

“The important factors which will ensure the system is successfully implemented are proper training and an open mindset of the implementers.”

IFMIS was one of the topics discussed at last week’s seminar held by the LIA, the regulating body for the accounting profession in the country.

Mphaka said international public sector accounting standards, code of good ethics and governance of public finances were the other topics tackled at the two-day seminar.

He said the institute was committed to “always finding the best ways to improve the accountancy profession”.

Among the speakers at the seminar was Comos Lamosai, chief executive officer of the East and Southern African Association of Accountants based in Pretoria.

His presentation was on the importance of international public accounting standards and he stressed the “importance of constant upgrading of the accounting standards”.

The other speakers included LIA members who are also lecturers from the Centre for Accounting Studies.

“The feedback we got from participants was positive,” Mphaka said.

“We always try to find the best ways to continuously develop and maintain high standards of accounting in Lesotho and try to make them to be on par with international standards.”

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