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Accountants’ indaba to tackle fraud, theft

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The Institute of Chartered Accountants in Malawi (Icam) will next week host its first ever open forum discussion on tackling fraud, corruption and theft in public institutions.

And according to Icam Executive Director, Evelyn Mwapasa, the forum will attempt to find lasting solutions to the problem of corruption and fraud which continues to derail development.

Mwapasa said there is a need to stop the ‘cancer’ of corruption in the country before it becomes uncontrollable.

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“Icam has taken the matter of fraud, corruption and theft as a matter of significant public interest that the expertise of accountants is relevant. Icam members and other stakeholders will gather to speak on the matter with the objective of coming out with more ideas to contribute to the fight against fraud,” said Mwapasa.

She said the forum would bring together key stakeholders including officials from government, the Anti-Corruption Bureau, development partners as well as practitioners from the accounting and internal auditing professions.

“These officials will share the progress made within the accountancy profession in Malawi and also lobby professional accountants and other professionals to contribute more to this fight.

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“Therefore, with this objective of sharing what is already happening on the ground and lobbying for more support from institutions, professionals and ordinary citizens, it should be a solution based forum,” she said.

Recent statistics show that Malawi is losing nearly 16 percent of its Gross Domestic Product to illicit financial fraud annually.

And according to the United Nations Resident Coordinator, Mia Seppo, the problem can be addressed if accountants in the country became more aggressive in arresting the vice.

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