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{
    "id": 683766,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/683766/?format=api",
    "text_counter": 158,
    "type": "speech",
    "speaker_name": "Hon. (Eng.) Gumbo",
    "speaker_title": "",
    "speaker": {
        "id": 24,
        "legal_name": "Nicholas Gumbo",
        "slug": "nicholas-gumbo"
    },
    "content": "First, there was non-compliance with the accounting standards. During the year under review, the Committee noted several accounting errors in appropriation accounts. More significantly, there were numerous cases of lack of footnotes and balances in Appropriation Accounts and those in the trial balances and ledgers not agreeing or tallying. The Committee notes that this was as a result of non-adherence to the International Public Sector Accounting Standards (IPSAS), which are yet to be adopted across the Government. Lack of adherence to IPSAS was the key contributing factor to the several audit queries that we encountered. Indeed, some Accounting Officers admitted to lack of capacity by their accounting staff. If the standards were adhered to, it is our belief that a lot of the audit queries would not have arisen. Therefore, the Committee recommends that the Accounting Officers, in liaison with the National Treasury, should take immediate action to ensure that MDAs adhere to IPSAS in conformity with the Public Finance Management (PFM) Act, 2012 and relevant regulations. Moreover, the Committee recommends that each Ministry, department and agency should ensure adequate training and capacity building of its PFM members of staff, namely, accountants, finance officers and supply chain management officers, to cope with the current emerging standards on financial reporting. Action must be taken against accountants who do not The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}