Zambian Youths Association in the Fight Against Corruption ZYAFAC has welcomed the decision by cabinet to approve in principle the accountants bill.
ZYAFAC Executive Director Maurice Malambo has told Money FM News in an interview that the approved bill will encourage professional conduct among accountants in the country once passed into law.
Mr Malambo adds that the bill will also transform the accounting profession as it will install discipline in accountants. hence promoting accountability in the discharge of their duties.
He says the bill will not only enhance accountability among accountants, but also generates capacity in the fight against corruption in the country.
He has since called upon parliamentarians to support the bill when passed in parliament.
Cabinet on Monday approved in principle, to the introduction of a Bill in Parliament to repeal the Accountants Act of 2008 in order to mitigate the occurrence of professional misconduct by accountants and provide for a well-regulated Accountancy profession.
The country has observed an increasing number of people masquerading as accountants.
The country has also witnessed growing incidences of accountants involved in fraud and misappropriation of resources, both public and otherwise.
Therefore, the enactment of this Bill will strengthen the provisions to regulate against such vices.