ZICA calls for recruitment of registered accountants in Councils

  • Recruitment of registered accountants in local authorities will lead to significant improvements in financial management and oversight.
  • Non registered accountants contribute to the mismanagement and potential abuse of public funds, undermining the integrity of Councils.
  • There is need for more transparency and accountability in the application, approval and disbursement process of the CDF.

 

Zambia Institute of Chartered Accountants (ZICA) has called recruitment of registered accountants in local authorities to enhance transparency and accountability in the application, approval and disbursement process of the Constituency Development Fund (CDF).

In a statement, Institute President Yande Mwenye noted that the recruitment of registered accountants in local authorities will lead to significant improvements in financial management and oversight.

Ms. Mwenye observed that non registered accountants contribute to the mismanagement and potential abuse of public funds, undermining the integrity of Councils.

“The CDF allocation was increased in the national budget from K1.6million to K28.3million 2021 and currently to K30.6million, this requires accountability and transparency of the disbursements to ensure confidence in the Zambian people, as these funds are intended for the betterment and to provision of positive impact to local communities across the country.”

“We need to see more transparency and accountability in the application, approval and disbursement process of the CDF as this is of utmost importance! However, this can only be achieved if qualified accountants and auditors regulated by ZICA are employed.  This will ensure adherence to our ethical standards and of course employment for the Zambian accountant,” Ms. Mwenye stated.

She revealed  that ZICA has been receiving concerns from qualified accountants employed in the local authorities that they are placed at non strategic levels, where they are unable to provide much needed guidance and effective oversight of these resources.

“This has also been viewed as a major demotivation for qualified accountants wanting to be employed in the Local authorities. We therefore, trust that the Local Government Commission will address this issue as a matter of urgency.

“As ZICA, we wish to re-emphasize the need for custodians of CDF funds to be trained so that they are able to execute their duties in line with the CDF guidelines. We are ready to help build capacity by providing targeted trainings in financial management to Ward Development Committees in all the constituencies,” she added.

She however commended Finance Minister Dr. Situmbeko Musokotwane for taking keen interest in the management of the CDF,  following revelations of alleged abuse of the funds at Kalabo District Council, which has triggered an internal audit of all constituencies.

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