The Bureau of State Enterprises (BSE) over the weekend concluded a four-day stakeholder dialogue and tax clinic with state-owned enterprises (SOEs) in Ganta, Nimba County.
This high-level engagement brought together executives of SOEs, senior government officials, tax experts, and representatives of oversight institutions to strengthen governance, improve financial reporting, and enhance domestic resource mobilization within the public sector.
On the fourth day, the engagement was centered on consolidating knowledge gained over the previous sessions, with a focus on financial reporting standards and reform initiatives.
The Department of Operations at the BSE led the first technical session on the “Presentation Issues with SOEs’ Financial Statements & Overview of the Specific Reporting Standards”. This included comprehensive discussions on IPSAS, GAAP, and IFRS reporting frameworks–all essential for ensuring transparency and accountability in SOEs’ financial operations.
Following this, the BSE team presented an “Overview of BSE/GoL Planned Reform Initiatives for the SOE Sector”, which highlighted strategic efforts to improve operational efficiency, compliance with the Public Financial Management Act (PFMA), and alignment with the government’s ARREST Agenda for accountability and transparency.
Participants engaged actively during the “Questions, Answers, and Summary of Key Points” session, sharing insights and challenges while offering recommendations to enhance sector-wide compliance and cooperation. Representatives from SOEs expressed appreciation for the initiative, citing improved understanding of their roles in national development and the importance of regulatory collaboration.
In the closing segment, remarks were delivered by two SOE representatives and the Director General of the BSE, Arthur S. Massaquoi. Massaquoi commended all participating institutions for their active involvement throughout the three-day dialogue. He reiterated the Bureau’s unwavering commitment to building a culture of transparency, accountability, and performance across State-Owned Enterprises.
“This engagement has underscored our collective responsibility to ensure that SOEs contribute meaningfully to domestic resource mobilization and national growth,” said DG Massaquoi. “The insights and reforms discussed here will be key in charting a new course for state enterprise governance.”
He said the BSE’s Stakeholder Dialogue and Tax Clinic demonstrated a clear commitment to bolstering public sector performance and ensuring that SOEs remain vital engines of national development. “The BSE remains committed to engaging with SOEs, for good governance, transparency and accountability,” he added.
Day one featured opening addresses by BSE leadership and local authorities, including Massaquoi and Koumeapeh Gono, Nimba County Superintendent, representing H.E. President Joseph Nyuma Boakai Sr. Discussions focused on SOE compliance with statutory obligations and the PFMA.
Day two was led by the Domestic Tax Department of the Liberia Revenue Authority (LRA), which conducted an intensive Tax Clinic. SOEs received hands-on training in tax compliance areas such as personal income tax, GST, and the LITAS platform.
Day three brought the dialogue full circle with a focus on financial reporting standards, reform initiatives, and key takeaways.
