ZICA cautions financial officers

The Zambia Institute of Chartered Accountants (ZICA) has cautioned Chief Financial Officers against misuse of public resources especially as government is emphasizing on prudent and transparent application of resources.

ZICA Chief Executive Officer, Anthony Bwembya says those found wanting risks being jailed and resources recovered.

Mr. Bwembya says this is because the Public Finance Management Act has now provided stringent penalties for Finance Officers who through neglect or willfully their activities result in the loss of public resources.

Speaking at the Chief Financial Officers’ workshop in Lusaka today, Mr. Bwembya has explained that there are provisions in the act for imprisonment and recovery of those resources.

He since urged all senior Finance Executives and ZICA members in government, institutional structures in statutory bodies and corporate bodies to familiarise themselves with the Public Finance Management Act no. 1 of 2018.

Mr. Bwembya says ZICA places great value in holding the forum as it provides an avenue for discussions and deliberations on understanding and analyzing the new role of the chief finance officers in this extremely challenging, dynamic and yet competitive environment. 

                        TRACK

                    ANTHONY BWEMBYA

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