NEW: Harare City Council launches asset verification exercise

Online Reporter

THE Harare City Council has launched an asset verification and valuation exercise to ensure effective asset management at Town House.

Speaking at the launch of the exercise in Harare on Wednesday, Town Clerk Engineer Hosiah Chisango said the initiative aligned with the Government’s call for local authorities to undertake asset valuations.

“The International Public Sector Accounting Standards (IPSAS) require the city to evaluate all of its assets,” he said.

“The Ministry of Finance, Economic Development and Investment Promotion, through the Office of the Accountant General, has provided national valuation guidelines.”

The local authority has set a deadline of two months for the asset verification and valuation exercise.