Story by Oleen Ndori, Foreign Desk Editor
PRESIDENT Emmerson Mnangagwa has underscored the critical role of accountants in supporting Zimbabwe’s economic transformation, calling on the profession to uphold the highest standards of transparency, innovation, and ethics in line with national development goals.
Addressing delegates at the 9th Zimbabwe Accountants Conference held at the Harare International Conference Centre on Thursday, President Mnangagwa commended the accounting profession’s role in advancing good governance, enhancing compliance, and supporting sustainable economic growth.
“The theme of the ninth Zimbabwe Accountants Conference, “Future Ready Profession: Innovate with Integrity, Sustain with Purpose,” resonates deeply with Zimbabwe’s national vision for economic growth and stability as we march towards our goal of becoming a prosperous and empowered upper-middle-income economy by 2030,” he said.
“As you are aware, accountants are not mere record-keepers of financial transactions, you are architects of economic transformation, custodians of corporate and public finance, and enablers of national development. Whether in the private sector or the public domain, your work directly influences the efficiency, transparency, and accountability of Zimbabwe’s economic activities.
“As accountants, you play a crucial role in strengthening Public Financial Management (PFM). Further, you are key cogs that enhance financial transparency, accountability and efficiency in public sector entities. The government counts on professionals in this field to ensure the proper implementation of our budget, the reduction of corruption and improvements in audit processes throughout all our institutions.”
The President highlighted the role of accountants in driving private sector growth and investment, particularly through the maintenance of accurate records and adherence to financial regulations.
“My government recognises the role of accountants in supporting private sector growth and Investment through maintaining accurate financial records, helping businesses to attract investment, access funding, and comply with financial regulations,” he said.
“Accountants are also key in driving digital transformation and financial inclusion as well as enhancing corporate governance and ethical standards. Your strategic financial insights must support business growth so that enterprises are competitive, innovative, and sustainable. The role you play in our economy should ultimately facilitate industrialisation, modernisation and overall economic growth across all sectors,” President Mnangagwa said.
The Head of State also challenged accountants to be transparent and ethical, as they are a pillar that guarantees good governance in the country.
“As Zimbabwe progresses, there is an urgent need for stronger regulation in the accounting and auditing professions. Loopholes that allow financial mismanagement, illicit financial flows, and corporate fraud must be closed with no exceptions. We must ensure that financial professionals operate within the highest ethical and professional standards, in line with the International Federation of Accountants (IFAC) Code of Ethics.
“Integrity, discipline, and ethics must define the Zimbabwean accountant. I, therefore, challenge the Public Accountants and Auditors Board and other regulatory bodies to strengthen all oversight mechanisms that govern your profession. Our economy cannot afford the manipulation of financial reports, money laundering, and tax evasion, as these malpractices erode investor confidence and derail development efforts.
“The Public Accountants and Auditors Board should jealously guard the profession by making sure that only those qualified and registered, perform the duties of professional accountants in our jurisdiction. The Public Accountants and Auditors Act should be enforced to the letter and other stakeholders engaged in dealing with unlicensed and rogue practitioners in our market. As a nation, we cannot suffer from the consequences of unethical financial practices, including mismanagement of public funds, insolvency, and stalled economic progress,” the President said.
With the country pursuing the industrialisation agenda, the government expects accountants to embrace innovation, integrate technology in financial reporting systems and adhere to international best practices.
