Business

‘Equip public accountants’

AUDITOR-GENERAL Anna Chifungula (left) and secretary to the treasury Fredson Yamba confer before the official launch of the ACCA advanced diploma in public financial management in Lusaka yesterday. PICTURE: MACKSON WASAMUNU

KALONDE NYATI, Lusaka
SECRETARY to the Treasury Fredson Yamba says there is need to equip public finance personnel to address transparency and accountability weaknesses in Government entities which remain a challenge.
Mr Yamba said prudent public financial management can be achieved if civil servants are appropriately trained and equipped with skills that enable them to effectively advance transparency and accountability.
“Public finances under the control of Governments and public entities comprise a very significant proportion of financial resources in any given economy and therefore, their prudent management has a direct bearing of key aspects of the economy as well as the private sector,” he said.
He said this at the launch of the Association of Chartered Certified Accountants (ACCA) advanced diploma in public financial management designed to transform the finance capabilities of accounting staff in the public sector through the development of key financial, management and behavioural competencies.
Mr Yamba said the public sector, being the caretaker of public resources, attracts a lot of checks and balances from stakeholders hence the need for prudent financial management through transparency and accountability.
He said the introduction of the advanced diploma in public financial management will go a long way in addressing the challenges surrounding the management of public resources.
The programme will also enable public service personnel to acquire essential skills in public financial management and offer core skills in public sector accounting standards through the international public sector accounting standards (IPSAS) training to be facilitated by Zambia Centre for Accountancy Studies (ZCAS).
“Emerging investment vehicles in many economies now involve public private partnerships, which call for the effective resource management for both sector entities. Budget management is usually the primary tool for fiscal management as most of the public resources in a given financial year are embarked to deliver certain targets,” he said.
Earlier, head of ACCA Zambia Mukaba Mukaba said the programme has also been launched in Botswana, Kenya, Ghana, Uganda and Nigeria.

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