CAG makes call to accountants and auditors to uphold integrity

08Dec 2017
The Guardian Reporter
The Guardian
CAG makes call to accountants and auditors to uphold integrity

ACCOUNTANTS and auditors have been challenged to lead the national industrialisation drive by ensuring that they come up with quality financial reports to woo foreign investors.

Controller and Auditor General (CAG) Prof Mussa Assad

Controller and Auditor General (CAG) Prof Mussa Assad made the call in Dar es Salaam on Wednesday when opening a three-day accountant’s s annual conference.

Organised by the National Board of Accountants and Auditors (NBAA), the conference brought together over 2000 professionals from various organisations inside and outside the country.

Prof Assad said that accountants and auditors have a great role and contribution towards realisation of the agenda in the country.

 “There is no doubt that, in today’s national agenda, accountants will play an important role in the development of our economy. Given the current circumstances and particularly with regard to the move to industrial economy, the issues of financial strength and accounting practices of the country’s entities,” the CAG said.

Assad however, counselled them to observe ethical rules when conducting their duties, thus maintaining trust and confidence of investors and the public at large.

“Any professional accountant should remain impartial and loyal to ethical guidelines when reviewing a company or individual’s financial records for reporting purposes, manipulating financial records if allowed will affect industrialisation process,” he said.

“Accountants and auditors should live up to their professional oaths and not just take it as a fashion, leading to massive mismanagement of public finances,” she said.

He further said that auditors and accountants have also a great role and capability to fight corruption and embezzlement as per their oaths.

For his part, NBAA Executive Director Pius Maneno said that the conference is aimed at sharing knowledge, insights and competencies about ongoing and future challenges that involve the emerging roles of accountancy and industrial economy.

“This conference will raise discussions on our roles as accountants and it is because we want to prepare our members to be ready in making sure our resources are utilised on acceptable manner to reach the nation goals,” he said.

Maneno said that the board will strengthen its efforts with the profession colleges in the country to ensure that they enrol as more students as well as conducting regular professional enhancement training to improve the sector.

NBAA is an examining body for the accountancy professional qualifications. However, NBAA does not train candidates who are preparing to sit for its examinations, but is collaborating with a number of training institutions, both public and private institutions to train candidates for its examinations.