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FIA & ICAM Cement Partnership in Combating Financial Crimes ICAM s Dr. Francis Gondwe and FIA s Vincent Chipeta signing the MOU
Financial Intelligence Authority and Institute of Chartered Accountants in Malawi have signed a pact which is expected to facilitate easy flow of information when investigating financial crime cases.
Acting director-general for ICAM Dr. Francis Gondwe says the MOU formalizes the working relationship that has existed between the two institutions for a free from financial crimes in Malawi.
“This MOU is very significant in the sense that it will allow the two parties exchange information that is vital for our purpose. …as ICAM, within the institute we have got structures that are responsible for investigating ethical and disciplinary matters and this information will help us conclude investigations that are outstanding,” he said.
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State VP Chilima Asks Auditors, Accountants to Adhere to Financial Act
Mana
Chilima:The passing of Public Accountants and Auditors Act 2013 was to instill discipline and professionalism in the accounting and auditing profession
Vice President, Dr. Saulos Klaus Chilima has asked for publishing of public government financial statements regularly to improve public financial accountability in the country.
The Vice President said this on Friday when he presided over the closing of Public Sector Conference, organized by the Institute of Chartered Accountants in Malawi (ICAM) at Linde Motel in Dowa district.
Chilima said he is well informed that government is reporting its expenditure following the International Public Sector Accounting Standards (IPSAS), saying Malawians can only be assured of continued public scrutiny of financial position of the government if only full financial statements are published on a regular basis.
December 11, 2020 Watipaso Mzungu - Nyasa Times 4 Comments
Vice President Saulos Chilima has disclosed that the lack of adequate oversight and adherence to the 2018 amended Public Audit Act and the Public Finance Management Act of 2003 has cost Malawi billions of kwachas.
Chilima driving the reforms agenda
Chilima made the remarks on Friday at the closing of the Public Sector Conference at Mponela in Dowa.
The Vice President emphasized that public sector accountants and auditors have a huge responsibility of safeguarding public resources.
He warned that the Public Finance Management Act of 2003, which is under review and is expected to be tabled in Parliament, spells out tough penalties to be meted on officers who will not adhere to the laid out laws.