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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.

Malawi generalPhylis kachingweSaulos chilimaLazarus chakweraInstitute of chartered accountantsPublic sector committeeOffice of the auditorTonse allianceInternational public sector accounting standardsVice president saulos chilimaPublic audit actPublic finance management actPublic sector conferenceVice presidentEconomic planningPublic sector reforms