By Memory Chatonda

Blantyre, September 6, Mana:  Director of Accounting Services in the Department of Accountant General, Chifundo Kapulula has challenged finance officers from local councils to utilise knowledge gained on International Public Sector Accounting Standards (IPSAS) by having credible and high-quality financial reporting.

He said, this will enhance credibility in the government's financial transactions thereby promoting the country’s good image.

Kapulula was speaking in Blantyre on Monday during the official opening of IPSAS training for finance officers drawn from almost all the country's districts.

He said: “This training is very fundamental to the financial reporting framework in Malawi. We have developed a roadmap to train accountants on IPSAS so that they should be able to produce financial statements comparable with other countries and at the same time easily understood by users.

“So far, we have managed to equip accountants in the mainstream civil service with the knowledge on IPSAS. Today, we are training local council’s Chief accountants, Directors of finance as well as accountants.  Our plan is to train everybody in the accounting service.”

Kapulula said it is the wish of the government to see finance officers providing verifiable audits that can enhance credibility of the finance management while at the same time, boost donors' confidence in Malawi's economy.

“As a country, we are moving forward to that and soon will be able to achieve this quest because of such kind of training,” he said.

National Local Government Finance Committee (NLGFC) Director of Finance, Linda Kapanda said enhancing knowledge of IPSAS to finance officers would enable them prepare their financial statements with all-inclusive elements.

“The financial statements will show how the councils are recognising their revenues, spending their expenses and managing their assets and even other financial management issues. We want to enhance credibility in the financial management and also produce reports that can be trusted by our donors, investors even other stakeholders,” she said.

One of the participants, Director of Finance for Ntcheu District Council Musandide Misinjo hailed the training saying it has provided knowledge required for the councils to perform well.

The training is expected to end on September 14, 2023.