EconomyLocal News

ZiCA rallies behind Auditor General’s office

THE Auditor General’s office is an important arm of Government that requires consistent support in offering oversight services in usage of public resources, the Zambia Institute of Chartered Accountants (ZiCA) has said.
ZiCA Chief Executive Officer, Bonna Kachinga, said the office of the Auditor General was an important institution in the effective monitoring and evaluation of financial management systems, policies and guidelines in accordance with the Zambian Constitution.
However, Mr Kachinga raised concerns that the office was left for too long without someone occupying it not until the appointment of former Accountant-General Dick Sichembe.
Mr Kachinga observed that this should not be the case if the country was to record prudent management of public resources.
He was speaking during the opening of a two days training designed to equip participants with knowledge of a transition processes and application of Accrual Basis International Public Sector Accounting Standards (IPSAS) implementation held in Siavonga district, Southern Province.
“We, therefore, call upon the accounting fraternity and the public at large to support him (Dr Sichembe) in the execution of his duties,” he said.
He said that ZiCA indeed happy to have ended the year 2019 on a good note with the appointment of a suitable person to hold the office of the Auditor General.
And the institute has commended Government for measures being put in place in the formation of the International Public Sector Accounting Standard (IPSAS).
“As you are aware the Institute issued an accounting pronouncement to give guidance on the applicability of accrual basis International Public Sector Accounting Standards (IPSAS) in Zambia in 2018.
“This entailed that by January, 2022, all Government Ministries, Provinces and Spending Agencies would have been required to prepare financial statements under the accruals IPSAS framework,” he said
The ZiCA Chief said, therefore, Government did well to setting up a steering committee to ensure that the IPSAS was implemented effectively.
“However, it is our considered view that more vigour is needed in this process to increase awareness of the project amongst public sector accountants and more involvement of senior political leadership in order to achieve its successful implementation,” he lamented.


Related Articles

Back to top button