{"id":53653,"date":"2024-03-06T16:59:13","date_gmt":"2024-03-06T16:59:13","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa"},"modified":"2024-03-06T17:29:50","modified_gmt":"2024-03-06T17:29:50","slug":"glassco-questions-licpas-integrity-after-prolong-request-against-lfa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa","title":{"rendered":"Glassco Questions LICPA\u2019s integrity after prolong request Against LFA"},"content":{"rendered":"

Africa-Press – Liberia. <\/strong><\/span>Monrovia- Senior Female Professionals football club President Emmett Stages Glassco has launched a scathing attack on the integrity and credibility of the Liberian Institute of Certified Public Accountants (LICPA).<\/p>\n

Glassco said he is concerned about LICPA\u2019s delay in releasing its findings from an investigation against Gedei and Associates, which audited the Liberia Football Association (LFA) for 2022, after his complaint on June 2, 2023.<\/p>\n

\u201cWe observed a difference of US$372,412.25 (US$5,587,425.25 minus US$5,215,040.00) in the income.<\/p>\n

In respond to us, the LFA acknowledged and explained that the difference was a result of two figures: a loan from FIFA of US$319,045.00 and US$56,866.67 which was Orange sponsorship (cash awards to Teams).<\/p>\n

\u201cWe were further informed that the loan and sponsorship was captured as part of the total cash income in the budget while in the audited financial statements, the loan was carried as borrowings and the auditor inadvertently didn\u2019t include the sponsorship amount as part of the total income in the audited financial statements.<\/p>\n

\u201cThere was a difference in the expenditure of US$319,040.00 between the actual budgeted expenditure and the audited financial statement expenditure.<\/p>\n

The LFA,in their respond, agreed that this amount was the expenditure from the loan taken from FIFA.<\/p>\n

\u201cWe wonder how come the LFA expended this huge amount and the auditor couldn\u2019t recognize this expenditure, especially if the expenditure was carried out through the institution\u2019s bank Account. We are mostly concerned about this loan.<\/p>\n

\u201cThe audited financial statement also shows an amount of US$697,338.00 as current liabilities. Besides the loan which we just got information about through the media from former Secretary-general Isaac Montgomery, we aren\u2019t aware of the rest of the amount in the current liabilities.<\/p>\n

\u201cWe requested to know who we owed and were told by the LFA that the information was provided to the auditor and that it was the responsibility of the auditor to disclose the information to us, which they were correct as per the disclosure requirement of IFRS [International Financial Reporting Standards are a set of accounting rules for how information should be gathered and presented in financial reports.<\/p>\n

Sir we intend to follow these discrepancies to the donor of the fund (FIFA) but we are hoping you will intervene before we do in making sure your member report to our institution is presented in a true and fair manner.<\/p>\n

The report has already been approved by congress,\u201d wrote Glassco.<\/p>\n

In response, LICPA Executive Director Hector J. Wuor acknowledged receipt of Glassco\u2019s complaint.<\/p>\n

\u201cKindly be informed that we have forwarded the complaint to our ethics and disciplinary committee for investigation. We shall get back to you subsequently upon their response.<\/p>\n

Thanks for the understanding and cooperation,\u201d Wuor wrote on June 26, 2023.<\/p>\n

LICPA is still investigation Gedei eight months after Glassco\u2019s complaint, prompting him to question their integrity.<\/p>\n

\u201cLICPA is one of the few institutions we should be looking up to when it comes to integrity but I have all reasons now to question their credibility.<\/p>\n

\u201cHow long does LICPA need to look into our investigation after allegation of auditing malpractices by one of its members? How can you go audit the LFA but you fail to provide vital information?<\/p>\n

So Gedei, in particular and LICPA in general, are accomplice to the corruption taking place at the LFA.<\/p>\n

\u201cThey are co-conspirators and partners-in-crime. It was good that we put them on records and we are going to FIFA in continuation of our case.<\/p>\n

We wrote the new auditors that are currently reviewing the books of the LFA ahead of congress on 30 March,\u201d said Glassco.<\/p>\n

For More News And Analysis About Liberia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Liberia. Monrovia- Senior Female Professionals football club President Emmett Stages Glassco has launched a scathing attack on the integrity and credibility of the Liberian Institute of Certified Public Accountants (LICPA). Glassco said he is concerned about LICPA\u2019s delay in releasing its findings from an investigation against Gedei and Associates, which audited the Liberia […]<\/p>\n","protected":false},"author":84,"featured_media":53651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,17],"tags":[233,237,234],"class_list":["post-53653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-sport","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"\nGlassco Questions LICPA\u2019s integrity after prolong request Against LFA - Liberia<\/title>\n<meta name=\"description\" content=\"Monrovia- Senior Female Professionals football club President Emmett Stages Glassco has launched a scathing attack on th ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glassco Questions LICPA\u2019s integrity after prolong request Against LFA\" \/>\n<meta property=\"og:description\" content=\"Monrovia- Senior Female Professionals football club President Emmett Stages Glassco has launched a scathing attack on th ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa\" \/>\n<meta property=\"og:site_name\" content=\"Liberia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-06T16:59:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-06T17:29:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2024\/03\/sm_1709733289.9453.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"439\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Glassco Questions LICPA\u2019s integrity after prolong request Against LFA\",\"datePublished\":\"2024-03-06T16:59:13+00:00\",\"dateModified\":\"2024-03-06T17:29:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa\"},\"wordCount\":617,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2024\/03\/sm_1709733289.9453.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Liberia\",\"Liberia\"],\"articleSection\":[\"all news\",\"sport\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa\",\"url\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/glassco-questions-licpas-integrity-after-prolong-request-against-lfa\",\"name\":\"Glassco Questions LICPA\u2019s integrity after prolong request Against LFA - 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