Experts dissect public accounting procedures

Malawi Experts dissect public accounting procedures

Post was last updated: June 18, 2020

The government says it is finalising the process of developing the Local Authority Accounting and Financial Management Procedures Manual.

The manual is designed to guide the local authorities on financial processes.

Yesterday, stakeholders started meeting in Blantyre to validate the draft manual.

Speaking when opening the two-day workshop, Director of Public Finance Management in the Ministry of Finance, Monaosyile Villa Mhango, said the manual will ensure consistency in financial transactions at council level.

“The manual covers new public financial management interventions introduced by the government to ensure that the local authority financial processes are in line with the international public sector accounting standards which the Malawi adopted in 2011.“ Mhango said.

National Local Government Finance Committee Director of Finance, Kondwani Santhe, said the blueprint will bring sanity in record management, documentation and reporting by the local authorities.

“We hope to finalise the document for adoption by January next year,” he said.

Local Government Accountability and Performance (LGAP), Technical Director, Phaniso Kalua, said this is an attempt to provide guidance to the councils.

Development of the new manual follows expiry of the Local Authority Accounting and Financial Management Procedures Manual (2009), which provided accounting procedures and guidelines to local governments.

The project is supported by UsAid and UKAid through LGAP.

Source Link

Let us know what you think of this article and remember to add us on our facebook and follow us on our twitter. Come back daily for more Malawi business news.

Quick Links: Download Business eBooks | Ten Signs You Are An Entrepreneur | What is a Managing Director?