The history of accountancy in Sierra Leone dates back to the days of Colonial administration and several Sierra Leoneans who performed in the civil service held the position of accountants.

Professional accountancy emerged gradually when prominent men like late Alhaji Seray Wurie who was the first professional accountant practice the profession and established his firm in the country followed by a number of other professional qualified accountants. When the number of qualified accountants grew in the country an association was formed which became known as the Sierra Leone Association of Accountants. The president of this association was the Honourable Alhaji Sallia Jusu Sheriff. Moves were later made by members of the association to incorporate their body.

The Institute of Chartered Accountants of Sierra Leone (ICASL) was established by an Act of Parliament in 1988 to:

• Produce professionally qualified and trained accountants;
• Regulate and control accountancy practices in Sierra Leone
• Ensure and maintain the highest quality of accountancy, auditing, financial management and - Consultancy.

Its present membership is one hundred and three (103).

The first President was Alhaji Musa M. King.

The governing body of the Institute is a council which comprises 17 members:

Three (3) are appointed by the government of Sierra Leone Eight (8) elected to represent members in public practice and private practice and Six (6) Ex-officio members who are Past President of the Institute.

The officials of the Council are the President Miss Marjorie I. Hedd.

Miss Hedd, Senior Partner of Leone Consultants, a firm of Chartered Accountants has become the First Woman Accountant to head the Institute of Chartered Accountants in Sierra Leone (ICASL).

She is a Professional Accountant and a Fellow Member of ICASL. She is a founding Member of the Institute and has served on its Council for several years since the Institute was founded in 1988.

The other officer is the Vice President Mr. Cyprian M.P. Kamaray who is also the Accountant General of Sierra Leone. He is a fellow Member of the Institute and has served on council for several years holding various positions.

Mr. Emile S. Kargbo is the Honorary Treasurer. He is also a fellow Member. He is the Managing Partner of Emile Kargbo and Associate, a firm of Chartered Accountants, Proprietor and Senior Partner of the Institute’s leading Tuition Provider, EMIBEX College of Management and Finance.

The administrative body of the Institute is its Secretariat which is headed by Mr. Herbert M. Nelson-Okrafor the Director and Secretary to the Council.

ICASL maintains a partnership with the Association of Chartered Certified Accountants (ACCA) of the United Kingdom through which partnership it provides the training for local students who undertake the Certified Accounting Technician Course and the professional ACCA Course. The current number of students enrolled with this Institute is over 3,500 and since its inception the Institute has produced over 140 Sierra Leonean qualified Accountants.

The Institute is a member body of the International Federation of Accountants (IFAC) in the United States of America, the world body of accountants. It is Also a member body of the Association of Accountancy Bodies in West Africa (ABWA), which has ten country Members in both Anglophone and Francophone West African states.