tawandamusarurwa
Online Reporter
THE International Public Sector Accounting Standards (IPSAS) will promote transparency and accountability in the public sector by providing a clear and consistent framework for financial reporting, National Housing and Social Amenities Permanent Secretary, Engineer Joy Makumbe, has said.
She was speaking during an IPSAS and Tax workshop that was organised by the Urban Development Corporation (UDCORP) recently.
Engineer Makumbe said embracing IPSAS will align Zimbabwe with global best practices in public sector accounting and enhance the credibility of financial reporting.
“IPSAS enhances the comparability of financial information across public sector entities both within Zimbabwe and internationally,” she said.
“By demonstrating our commitment to internationally recognised accounting standards, we send a strong message to investors that Zimbabwe is a trustworthy and responsible partner.”
UDCORP chief executive officer Mr Joey Shumbamhini said IPSAS will improve accountability in local authorities.
“Local authorities must be up-to-date with financial reporting, and IPSAS actually brings standards reporting that makes Zimbabwe comparable to other nations in terms of how we report,” he said.
Online Reporter