Home » Governance » ’Govt Yet to Embrace Global Accounting Standards’

The Auditor-General, Mrs Mildred Chiri, says Government has not yet formally adopted the International Public Sector Accounting Standards but plans are in place to embrace the global standards.

Mrs Chiri said Government has, however, embraced the International Financial Reporting Standards.

She was speaking at the ACCA accounting and finance expo held recently.

The ACCA accounting and finance expo sets in motion the drive to build capacity or talent in professional accounting by exhibiting the products and impacts of ACCA and the accounting profession as a whole.

“Many benefits accrue from the adoption of global standards. Global standards facilitate transparency and easy comparison in transactions across borders and jurisdictions,” said Mrs Chiri.

She urged ACCA students to know the public sector standards as well so that they can also work in Government and other public sector agencies and apply them in their daily work.

“This will help boost investor confidence in the credibility of public sector financial statements.

“We need quality financial management and reporting in the public sector as well which leads to transparency and accountability in the delivery of public services.

“It is through initiatives like this expo that we can attract talented people into the profession and some will join the public sector,” said Mrs Chiri.

The chief Government auditor is currently professionalising her audit office to stay on course with international developments.

“As the Auditor-General of Zimbabwe, I can confirm that my office has a constitutional mandate to strengthen our country’s economy by enabling oversight, accountability and governance in the public sector through auditing which builds public confidence,” said Mrs Chiri.

“In this regard, my office has taken a deliberate move to professionalise the audit office.

“The office is encouraging all members of staff to embark on professional qualifications with an audit bias,” she said.

Source : The Herald