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RBM calls for financial prudence

The Reserve Bank of Malawi (RBM) Governor Wilson Banda is challenging the accounting profession in the country to root out corruption in their professionals if financial prudence to be achieved.

Delivering his keynote address at the opening of this year’s Institute of Chartered Accountants in Malawi (ICAM) annual lake conference, Banda expressed concern with the continued involvement of accountants in corruption, fraud and matters of tax evasion.

His concern comes in line with the theme of the conference which is: Prudent Financial Management: key to business resilience in the midst of COVID-19.

The annual conference is being held in the lakeshore district of Mangochi

Most major cases of financial mismanagement in organizations and in the public sector have an accountant at the centre of it.

Responding to the call ICAM President Bighane Mwenelupembe has given assurance that as an institute they will strive on retaining integrity in the profession.

Mwenelupembe has further emphasized that they will take necessary measures to see to it that they be drivers of financial prudence especially as the country strives to get on the right path to recovery.

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