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