Accountants reminded to be transparent and accountable with public funds

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Professional accountants have been reminded that their knowledge and expertise can be used to instill control mechanisms in the expenditure of public funds.

This is from Chairman of Task Force Sweep Team Sam Koim.

He was speaking to accountants on the second day of the Certified Practicing Accountants join annual conference last Friday in Port Moresby.

The 2-days CPA PNG and CPA Australia Joint Annual Conference bore the theme of “Corporate Governance & Accountability”. It was well attended by practicing accountants, professionals from the finance and economic sectors and stakeholders.

Presentations were made on topics relating to accountability and corporate governance in the accountancy profession.

Koim said corruption has become one of the forefront managerial issues at national and international levels. In his capacity as Chairman of Task Force Sweep, Koim said the simple but vital financial statements prepared by accountants are important in dealing with economic transactions and auditing. He said accountants also make prosecution easier by providing clearer accounting tracks.

He was adamant, when accountants are transparent and accountable in carrying their responsibility, a sound system of corporate governance is built which in turn acts as a solution to corruption in Government.

Follow this link to watch News Story on YouTube: http://youtu.be/fPxWZ0XsBQA

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