Finance Minister, Goodall Gondwe, has challenged accountants in the country to be in the forefront in the war against fraud and corruption if the nation is to avert a resurface of plunder of the government funds.<\/p>\n
Gondwe was speaking at the opening of the Institute of Chartered Accountants Of Malawi (Icam) lakeshore conference in Mangochi on Friday.<\/p>\n
This comes as recent statistics from the UN shows that Malawi is losing nearly 16 percent of its gross domestic product in illicit financial fraud annually.<\/p>\n
The challenge also comes at a time when Malawi continues to nurse the wounds of the Cashgate; Malawi\u2019s historic financial scam where some civil servants connived with some businesspeople and politicians in siphoning government\u2019s coffers.<\/p>\n
Gondwe asked the accounting professionals to value integrity and professionalism in safeguarding both the public and private sectors\u2019 financial resources.<\/p>\n
Gondwe said authorities will not spare any culprit of fraud and corruption.<\/p>\n
According to Gondwe, the country does not wish to crawl back to the levels where billions of government funds are diver ted for particular individual people\u2019s interests.<\/p>\n
He lamented the visible effects of plunder and loot which include the closure of the budget aid taps.<\/p>\n
\u201cWe hardly had corruption here in Malawi in the past years. That is why we had effective development. Now it is not the case, we can\u2019t go far in development,\u201d hinted Gondwe.<\/p>\n
He said Treasury expects nothing less than the truth and accountability from the professionals, saying no one is anticipated to defraud the earmarked funds.<\/p>\n
One of the presenters, professor of economics at the University of Malawi, James Khomba, concurred with Gondwe in challenging the delegates, saying accounting professionals remain pivotal to the growth of the economy.<\/p>\n
\u201cWe need a profession that will build the national development on the premises of integrity,\u201d he said.<\/p>\n
The conference was held under the theme \u2018Strengthening Governance and Accountability for Sustainable Development\u2019.<\/p>\n","protected":false},"excerpt":{"rendered":"
Finance Minister, Goodall Gondwe, has challenged accountants in the country to be in the forefront in the war against fraud and corruption if the nation is to avert a resurface of plunder of the government funds. Gondwe was speaking at the opening of the Institute of Chartered Accountants Of Malawi (Icam) lakeshore conference in Mangochi […]<\/p>\n","protected":false},"author":3,"featured_media":32106,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-32102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/32102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=32102"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/32102\/revisions"}],"predecessor-version":[{"id":32107,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/32102\/revisions\/32107"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/32106"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=32102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=32102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=32102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}