Harare, (New Ziana) – Zimbabwe does not tolerate corruption, and therefore it is incumbent upon the accounting profession to take a firm stand against it, President Emmerson Mnangagwa said on Thursday.
Addressing delegates at the 9th Zimbabwe Accountants Conference in the capital, he said as a nation Zimbabwe cannot suffer from the consequences of unethical financial practices, including mismanagement of public funds, insolvency, and stalled economic progress.
“Corruption is an enemy of development, and it is incumbent upon the accounting profession to take a firm stand against it. Zimbabwe will not tolerate corruption. As accounting professionals, you are in almost every facet of our economy, including in Government institutions, private corporations, financial services, and development projects,” said President Mnangagwa.
He said 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, adding that they should be enforced to the letter and other stakeholders engaged in dealing with unlicensed and rogue practitioners in the market.
President Mnangagwa said Zimbabwe cannot afford manipulation of financial reports, money laundering, and tax evasion, as these malpractices erode investor confidence and derail development efforts saying integrity, discipline, and ethics must define the country’s accountant.
“It is, therefore, your duty to speak out and refuse to be complicit in fraudulent activities. I urge you to act with propriety and fiduciary in the fight against corruption by upholding the principles of transparency, accountability and good governance,” he said.
He challenged local accountants to be at the forefront of integrating technology, improving financial reporting systems, and enhancing management frameworks that align with international best practices.
Accountants, said President Mnangagwa, must drive environmental, social, and governance (ESG) standards, ensuring that businesses contribute positively to society while remaining profitable, adding this is more critical given that sustainable development and economic growth in our nation is one where finance and a higher quality of life for our people go hand in hand, securing prosperity for future generations.
“As you deliberate in this Conference, I urge you to reflect on the legacy you want to leave as financial professionals. The integrity of Zimbabwe’s financial systems rests in your hands. Be ethical. Be innovative.
“Be disciplined. Ensure that every financial decision made in Zimbabwe is one that propels the national interest and leapfrogs our great motherland, Zimbabwe, to a brighter future,” he said.
He challenged the accounting sector to scale up their role with regards to Tax Revenue Collection and Compliance by supporting tax planning, compliance, and reporting for businesses and individuals, adding that their collective efforts must see more revenue inflows into the fiscus to fund Government programmes and projects as they complement the Zimbabwe Revenue Authority (ZIMRA) in enforcing tax regulations and minimising tax evasion.
President Mnangagwa said his administration 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.
“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. I challenge you, the accountants in both the public and private sectors, to be trustworthy gatekeepers of national resources. Every dollar spent must be accounted for,” he said.
New Ziana
