THE Zambia Institute of Chartered Accountants (ZICA) has implored the government through the Ministry of Finance and National Planning to issue the statutory instrument for the commencement order for the State Audit Commission Act no: 27 of 2016.
ZICA President Cecilia Zimba said the institute is looking forward to the operationalization of the state audit commission which would provide oversight of the office of the auditor general and enhance ethical conduct on matters arising on disputed audit findings.
Ms Zimba said the establishment of an oversight authority would foster the effective verification of how public resources are utilized and how public officials working within the government administrations follow the rules and regulations. She noted that the Office of the Auditor General was currently not answerable to any independent body on any matter of ethical conduct and matters arising on dispute and audit findings.
And Ms Zimba also said the decision by the NAPSA to pay out 20 percent of the total contribution to individuals was amiss as 20 percent was not enough for investment.
She said the institute proposes that NAPSA should consider a much higher percentage to allow people to make proper investments with the money saved.
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