Wednesday, April 17, 2024

Accountants urged to be key players in the country’s economic growth


Minister of Higher Education Nkandu Luo
Minister of Higher Education Nkandu Luo

Higher Education Minister, Nkandu Luo says the business sector is under great pressure to deliver the country’s expectation value and consistent growth amid harsh social- economic conditions and scarce resources.

Professor Luo has for this reason urged all accountants in the country to be at the forefront of ensuring value management in the country’s economic growth.

Professor Luo has therefore challenged accountants to shoulder multiple roles beyond finance and assurance function in the new economic era where turbulence and volatility are constants.

The minister said this in a speech read on her behalf by Acting Permanent Secretary in the Ministry of Higher Education, Derrick Lungu when she officiated at the Chartered Institute of Management Accountants (CIMA) Annual Dinner held at Radisson Blue Hotel in Lusaka last evening.

She explained that a sustainable improvement in competitiveness requires that costs are contained and productivity enhancements are achieved.

Speaking earlier CIMA Zambia branch chairperson Phinias Lupaka said interdependence of global capital markets means a global focus for accountants is becoming more and more valuable.

He explained that the dynamism of a globalized capital market and the emergency of knowledge based economy and society have posed major challenges for accurate and speedy financial reporting.

Chartered Institute of Management Accountants (CIMA) has been operating in Zambia since 1982 and globally since 1919 and in 2019 the Institute will be holding its centenary celebrations.


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