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Corruption, fraud bother institute

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The Institute of Chartered Accountants in Malawi (Icam) has said is equally bothered with a spate of fraud and corruption cases in the country, in which some accountants from both the private and public institutions are embroiled.

Icam Chief Executive Officer Francis Chinjoka Gondwe said this on Friday when the accountants’ body signed an agreement with the Malawi University Business and Applied Sciences (Mubas) to join forces in training quality professionals.

He said the institute has since moved to ensure all practising accountants register with the body and the Malawi Accountants’ Board for easy tracking.

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“Of late, we have seen a lot of corruption cases and theft involving accountants. Our observation is that many people are not registered. So, we have engaged the government at the highest level to ensure that all the accountants are registered,” Gondwe said.

Section 26 of the Public Accountancy and Auditors Act provides for mandatory registration of all practising accountants.

“If those are registered, then we can be able to offer support to the accountants but for the accountants who misbehave, we can punish them through the disciplinary measures which we have put in place,” Gondwe has said.

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Meanwhile, Gondwe said the agreement Icam has signed with Mubas will help in introducing quality professionals to contribute towards national economic development.

Mubas Vice Chancellor Nancy Chitera said signing the pact entails renewed energy

“As we drive towards 2063, there is a lot which we have to achieve. This would require high quality human capital. To drive that pace of development, it will take well trained professionals; so, we need high number of such professionals,” Chitera said.

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