• Register
Return to: Home > News > Standards > Zimbabwe pursues increased public sector transparency and accountability

Zimbabwe pursues increased public sector transparency and accountability

More than 200 senior officials from central and local government gathered to discuss the next steps in Zimbabwe’s migration to accrual accounting based on International Public Sector Accounting Standards.

The officials were gathered by the Zimbabwean Ministry of Finance, the nation’s Public Accountants and Auditors Board, the International Federation of Accountants and Chartered Institute of Public Finance and Accountancy (CIPFA).

The Zimbabwean finance and economic planning deputy minister Terence Mukupe opened the event affirming the government’s commitment to accrual-based public financial reporting as a cornerstone of sound public financial management and effective, efficient public service delivery.

Key development partners in Zimbabwe, including the European Union, International Monetary Fund, UK Department for International Development, United Nations Development Programme, and the World Bank, shared their expectations for PFM Reform in Zimbabwe.

They encouraged the government to use the recently-completed Public Expenditure and Financial Accountability Assessment to develop a national PFM Reform strategy.

Key outcomes highlighted by Zimbabwe’s accountant general Daniel Muchemwa, included the establishment of a policymaking steering committee that will be supported by an implementation working group comprising meeting participants. They will meet quarterly to establish a high level implementation strategy and monitor progress in the migration to accrual accounting.

Participants identified accrual accounting implementation solutions, drawing on global, regional, and local best practices shared by CIPFA, Organisation of English-speaking African Supreme Audit Institutions, the Government of South Africa, and Government of Tanzania.

 

By Joe Pickard

Top Content

    Addressing tax challenges and the digitisation of the economy

    As the economy becomes even more globalised through digital sources, the tax systems currently in place need to be scrutinised to examine whether they are still fit for current and emerging business models. Joe Pickard reports on the OECD’s approach to this issue.

    read more

    Primary financial statements: a game changer in reporting?

    International Accounting Standards Board chair Hans Hoogervorst delivered a speech at the Seminario International sobre NIIF y NIF, organised by the Consejo Mexicano de Normas de Información Financiera in Mexico. The Accountant presents the highlights.

    read more

    FASB readies standards for the netflix generation

    The US Financial Accounting Standards Board (FASB) has updated its accounting standard for entertainment, with a specific eye on keeping up to date with how episodic content, such as television programmes, is consumed in the modern world. Jonathan Minter reports.

    read more

    Brexit: why it takes two to tango

    Former TA editor Vincent Huck, now editor of Insurance Asset Risk, looks at why Brexit might unleash geopolitical intrigue in Europe’s accounting standard-setting scene – and why IFRS 17 will be an incredible source of opportunity for firms in the coming years.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.