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Alba Iulia
Thursday, August 6, 2020

Farmers’ Union want fresh audit after accusations of misappropriating K34 bn

Economy Farmers’ Union want fresh audit after accusations of misappropriating K34 bn

ZNFU President Dr. Evelyn Nguleka
ZNFU President Dr. Evelyn Nguleka

THE Zambia National Farmers’ Union (ZNFU) says the draft forensic audit report in which senior officials at the organisation have been accused of allegedly misappropriating K34 billion (old currency) through fraud, tax evasion and abuse of authority does not provide any substantiated evidence.

ZNFU first vice-president Richard Lisimba told a press briefing in Lusaka yesterday that the audit report which was commissioned by Swedish International Development Co-operation Agency (SIDA) and carried out by Elasto Mambo of EMM corporate partners does not give any substantiated evidence of fraud of both ZNFU and donor funds.

“The preliminary report does not give any substantiated evidence of fraud of both ZNFU and donor funds,” he said.

Mr Lisimba said ZNFU observed that the auditor had inadequate understanding of the union’s operations and its partnership arrangement with donors under the core support.

He called upon the Zambia Institute of Chartered Accountants (ZICA) to appoint a high-level panel of independent experts to review the terms of reference of the audit.

Mr Lisimba said ZICA should interrogate the professional conduct of the Auditor of the Auditee and review the entire audit process and findings with a view to appointing an independent auditor to be agreed upon between the co-operating partners and ZNFU.

He said all this must be done by first setting aside the “so called” special audit report.

8 COMMENTS

  1. There are s l a v e minded people still in Africa . A b o l i s h religions and restore African c i v i l i s a t i o n. ?

  2. It is right that ZNFU has thrown the ball into ZICA court – let ZICA eat and swallow its vomit. How can ZICA give a license to practise accountancy to such an unprofessional and ill qualified person like Elasto Mambo? The chap is a total disgrace to the Accountancy and Audit profession.
    In fact this also proof that ZICA is a half baked statutory body that itself needs supervision from other Accountancy bodies – shame on ZICA!! These are the dangers of ZICA graduates who pass their exams through leakages and now parading themselves as professionals when they are in fact no better than PF cadres at SOWETO. Mambo must be never allowed to ever practice again if found wanting!!

  3. I have read both the audit findings and the response from ZNFU management. There Re funny issue that ZNFU brought in concerning its former staff leaning some data o the auditor. My take here is that it could be true that procedure was not followed by the Auditor and it could also be true that some findings are genuine. A re-audit by another firm is necessary and in the mean time, top management should stay away from doing any work during the period of the re-audit. This is to ensure that there is no interference.

    • You are commenting out of total ignorance – why don’t you just shut up? Clearly you are either simply dull or not an accountant or both. If the top management stay away, who is going to answer audit queries. Mind you auditors cannot make conclusions without collaborating evidence to established systems or processes.

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