malvernmugadzikwa
Online Reporter
Urban Development Corporation (UDCORP) has called upon all local authorities to adopt the International Public Sector Accounting Standards (IPAS) as part of efforts to improve the quality of financial reporting in the public sector.
Speaking during an IPSAS and regulatory matters workshop organised last week,UDCORP chief executive officer Mr Joey Shumbamhini said adopting IPSAS standards will improve accountability in local authorities.
“All local authorities are now mandated to shift to a new way of accounting; making Zimbabwe comparable to other regions in terms of accounting and attracting international investors.
“Increasing accountability of public funds and high-quality accounting will attract international investors who want standards which are comparable not only to the region but at international level,” said Mr Shumbamhini.
Online Reporter