Accountants should maintain professional ethics
Public financial management under scrutiny
30 January 2020 | Government
Natangwe Ithete; Deputy Minister of finance; “It is sad to see young people lose their job and damage their career because of the immoral practices.”
The ministry of finance is hosting the 27th East and Southern African Association of Accountants General (ESAAG) Annual Internal Conference at The Dome.
The opening of the five-day conference took place on Monday and saw over 1 000 accountants from Eastern and Southern Africa gather.
During his keynote address, the deputy minister of finance, Natangwe Ithete, called on accountants to uphold professional ethics in their job.
“In many cases, accountants become suspects in unethical actions. It is sad to see young people lose their job and damage their careers because of immoral practices they have committed in the execution of their duties, in particular when it comes to dealing with public funds.”
Ithete said professional accountants are a part of governance architectures guarding against the misuse of limited resources. “Therefore, you should always serve as gatekeepers and expose fraudulent practices that you come across.”
The conference is a networking and information sharing platform which allows accountants and other professionals to meet and learn from each other in various public financial management (PFM) disciplines.
“It is an opportunity for the concerned sectors to look ahead as we anticipate positive growth and reforms in the fourth industrial revolution,” Ithete said.
The conference is being hosted under the theme: “Rethinking public financial management reforms to accelerate economic growth”.
“The theme is befitting as member countries are either experiencing minimal or low economic growth. It is extremely important to our current situation in all member states. Public financial management reforms will assist us in being more accountable and to bring about economic growth to provide much needed resources to critical areas and services,” he added
Ithete called on participants to have open-minded discussions to enable the conference attendees to come up with tangible solutions for all member states.
Various topics were discussing, including international convergence, an emerging corporate governance regime in Africa as well as current and potential PFM reforms contribution towards accelerating economic growth.
ESAAG is a regional association of accountants currently consisting of 14 member countries, four of which are in the East (Kenya, Rwanda, Tanzania and Uganda) while the other ten are in Southern Africa (Botswana, Eswatini, Lesotho, Malawi, Mauritius, Mozambique, Namibia, South Africa, Zambia and Zimbabwe).