Vice-President Saulos Chilima has challenged public sector accountants and auditors to enhance professionalism to ensure prudent use of taxpayers’ money.
The Vice-President made call in recognition of the critical role that accountants and auditors play in the management of public funds.
Speaking on Friday at Mponela in Dowa when he officially closed a two-day training organised by the Institute of Chartered Accountants in Malawi (Icam) for public accountants and auditors, the Veep said the two professional cadres have a huge responsibility of safeguarding public resources.
Chilima told the attendees that lack of adequate oversight and adherence to the Public Audit (Amendment) Act No 10 of 2018 and the Public Finance Management Act (2003) has cost the country billions of kwacha.
He, however, said the Public Finance Management Act (2003) is under review and the Bill, which will be tabled in Parliament, outlines stringent punishments for unruly accountants and auditors.
Said Chilima: “In this Bill, there are penalties that will be meted out to officers who will not adhere to the laid out laws.
“This will help Malawi to gain back the lost glory of financial prudence in the public sector.”
On her part, Icam president Phyles Kachingwe admitted there are times accountants and auditors have discharged their duties in a “highly abnormal manner”.
She said the new normal should be that of celebrating good conduct and character of accountants and auditors.