The Minister for Finance is worried that resources released by his ministry are not achieving their intended goals because of certain loopholes.
Ng’andu Magande has urged accountants to detect these loopholes for Government to make improvements in all social economic sectors.
The minister said this in Livingstone in a speech read by Acting Secretary to the Treasury, James Mulungushi.
This was at the Zambia Institute of chartered Accountants ZICA-CIMA Annual Business Conference.
Mr. Magande said Government appreciates the role accountants play in ensuring that resources are channeled to the intended developmental projects.
And ZICA president, Chintu Mulendema said the European Union has given the Institution a 250 thousand Euros grant to establish a monitoring department.
He said the department will be able to monitor professional accountants in the industry.
[ZNBC]
the same accountants you are calling for help are the culprits.
so…………..
To h…l naba kabolala kanshi. hallo Magande, want my vote?
i hope magande is not waiting for felix to hunt investors to come and regualte accounting practices and seal up loophole.
it seams to me that govt fails to control the flow of funds.what are these cicil servants being paid for?contractors are paid and yet projects are’nt done accordingly. never in the private sector….same zambians working just efficient supervision.we want the fruits of our heavy tax….this money is no free to govt…its for today and the future.
already ZICA wants that lot for a monitoring system.i suggets a monitoring sysytem for Govt….most accoutants are innocent, its the politicians and party cadres who are plunderers.
…….tell me what pride does a country have if hospitals are not cleaned except at the visit of the so called VIP…shame…
Hon magande..tell us how musch money has gone through those loophole you have rightly identified….please…please….it might well be my 25 years tax…
I want pragmatist to comment on Magandes issue.
# 1,i concur with you,the burgers are the biggest culprits.Magande has become good at shifting the blame to others.What is his ministry doing to ensure that the monies released are accounted for?Not every he’s giving us the same rhetoric
This is the same Minister who is strongly opposed to the ideal of having public Accountants/ Auditor being well remunarated.
Honourable Magande u should know that tangible results can only be realised if workers are well motivated financially and otherwise.
Its highly disheartening that up todate senior govt officials like the minister for that matter is still failing to convince his leadership that he has put the necessary tools in place to monitor the dispensation and alotment of resources put in his custody.this is the first assighnment they supposed to work on before they thought of releasing the funds first.concluding from the misappropriations recorded in the past,its evidently clear that the accountants themselves know how to touch and unlock the button.there is heavy collusin,evasion and facilitation by the same accountants.then what is the value of education if it cant us take care of own resurces?selfishness is the true reason for all
This is just an admission of the ministry’s failure to effectively monitoring the use of the funds . Why not prosecute those going against the laid down public financial regulations. Auditor General has been being out alot of these issues but because there is no serious follow ups public officers are not scared any more. This country has alot of resouces being misapplied.
It’s easy to criticise on blogs.What sin has Magande committed by saying Accountants should help(thru)their continued development of accounting practices & systems.To my understanding & being an Accountant myself,the term Accountant also includes Auditors & in this case Magande was addressing the institutions that regulate Accountants to come up with ideas to tackle corruption which is difficult to track because of loopholes in the current system the govt is using so he is right in asking for help isn’t he.
#8 Sir Lulu,the nation & LT bloggers are the ones against increment of salaries for public workers like the Accountant General & Auditor General,drivers,Ministers etc so who’s to blame.
Hon. Magande, your ‘new deal’ team have been in power for almost 7 yrs now & you’re still talking of loopholes? Should’nt this have been the first critical area your MMD should have addressed way back in 2001? FJT’s team made all internal controls & performance mgt, impotent, so that they could steal properly. Logical thing would have been for u guys to seal all these loopholes, but you were too caught up with the hype of pursuing FJT! The current status quo is like pouring water into a leaking bucket, no matter how much tax u buggers squeeze out of us, it all ends up in the hands of a few unscroupolous chaps!
the same reason, it’s so easy for a ZRA chap at the airport or border to pocket millions; junior cashiers in GRZ can build mansions in chalala etc Hon. Magande, I have great respect for you but if you’re admitting that you’ve failed to seal these loopholes, then perhaps you should step down and let someone more capable handle our finances!
The phenomenon of seeing GRZ cashiers and other GRZ workers who have accsess to puplic funds amass wealth that can not be realised by their salaries needs to be investigated.
How can you ingnor a GRZ cashier who is building a Multimillion kwacha lodge ?. Or a customs officer buying 6 houses ? It seems FJT has the ACC fully occupied, and still they cant come up with anything.
Thief accountants
#11 From which premise do u make the assumption that the nation and LT bloggers are against increment of wages for public workers? When did u do this survey? A quick analysis of this blog and the general feeling will make u realise that what people are against are the astronomical increments that CABINET MINISTERS have awarded themselves against the 15% peanuts given to public workers.
#16 From reading the many comments on this blog.When i analyse statements by relevant authorities including the ZCTU Chief,it is clear to me that there is only one increment & it’s across the board for all public workers & effectively,Ministers & other constitutionally appointed workers also get the same as the law says & that has been the case since time immemorial so the only cry we have is that Ministers don’t deserve an increase coz the gap in perks between them & the ordinary civil servants is too much so the best way to argue is by calling for change of rules or laws so that Ministers don’t get automatic increments when civil service do.
Are you saying that the audit system in Zambia does not work or it is just cosmetic. Let us not just fill positions that are not relevant. Money cannot be hidden for some reason or another, it may take a bit of time to trace but it will always be traceable. If Magande is serious he should give more teath to the AG.
Zeddy, you put up good points, but why are you always so inclined towards criticising bloggers for speaking their minds? Whats the relevance of the statement in your #11 comment, ‘It’s easy to criticise on blogs’? You think we ‘bloggers’ would find it difficult to criticize Magande if given an opportunity to talk to him squarely, face to face? Please be informed that most bloggers here are more articulate and enlightened than the average person in your mind.
You try too hard to make sense out of the nosense that our politicians are dragging us through…it’s probably your job to do so, isn’t it?
Seal the loophoes. It’s like you open doors to your home whilst sleeping and then worry that thieves are stealing your goods.
institutions like DEC are there to fight corruption,but what do you expect from a country whose head of an institution e.g mr chitoba is he himself is arrested for steaaling k360million state money?
Loopholes man check ur VX’s outside ur office and u will see were the loopholes lie.its simple mathematics thats already 120million down the drain.hmmm thats enough 4 civil servants to smile 4 a year.
The Next President has spoken, But as u know they havent put in place good Internal controls in our Government.We look forward to having a Business minded Leader now. Either we have Magande of HH period
NONE of tha above HH’s is a calculator boy Zambia cant be ran like a business.Magande is a Crocodile he would scare investors wit his cold smile.