ED warns against abuse of funds

The Herald (Zimbabwe) - - National News - Felex Share Se­nior Re­porter

THE Sec­ond Repub­lic does not tol­er­ate si­phon­ing of pub­lic funds for per­sonal gain and such crim­i­nal propen­si­ties will leave of­fend­ers in jail, Pres­i­dent Mnan­gagwa said yes­ter­day.

Ad­dress­ing del­e­gates to the 3rd An­nual Pub­lic Sec­tor Au­dit Con­fer­ence in Harare, the Head of State and Gov­ern­ment said ne­far­i­ous ac­tiv­i­ties in pub­lic and pri­vate sec­tors hin­dered eco­nomic growth.

“I urge all cor­po­rates, boards of pub­lic en­ti­ties and lo­cal au­thor­i­ties to up­hold good fi­nan­cial ad­min­is­tra­tion and pro­tect na­tional as­sets for the good of all our peo­ple and growth of our econ­omy,” he said.

“Those found want­ing will face the full wrath of the law. My Gov­ern­ment is de­ter­mined to cre­ate an en­vi­ron­ment that will see the rise of a new crop of ‘cor­rup­tion free’ busi­ness lead­ers and in­sti­tu­tions; which nur­ture the val­ues of hon­esty, trans­parency, hard work, in­tegrity, ac­count­abil­ity and high pro­fes­sional ethics.

“It is presently dis­heart­en­ing that the coun­try con­tin­ues to lose huge sums of money due to fraud, money laun­der­ing, pro­cure­ment or ten­der ma­nip­u­la­tion, in­sider trad­ing stock and fi­nan­cial mar­kets, among other ills in both the pri­vate and pub­lic sec­tors.”

Pres­i­dent Mnan­gagwa said non-per­form­ing pub­lic en­ti­ties, cou­pled with tax pay­ment in­va­sion con­tin­ued to be “an al­ba­tross around the neck of Gov­ern­ment”.

“I, there­fore, chal­lenge you to use plat­forms such as this one to col­lec­tively find fea­si­ble, sus­tain­able and last­ing strate­gies to stop this wor­ri­some cul­ture,” he said.

“As we strive to elim­i­nate cor­rup­tion by 2030, let us in our re­spec­tive en­ti­ties, al­ways act in the best in­ter­est of our coun­try and peo­ple. You as pub­lic ac­coun­tants and au­di­tors are crit­i­cal in the de­tec­tion, pre­ven­tion and ex­po­sure of fraud, eco­nomic crimes and sab­o­tage.”

Pres­i­dent Mnan­gagwa com­mended the Of­fice of the Au­di­tor -Gen­eral for timeously pro­duc­ing and pro­vid­ing au­dit re­ports of Gov­ern­ment de­part­ments, Sta­te­owned en­ter­prises and Gov­ern­ment agen­cies.

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