By Own Correspondent- Permanent secretary of the Ministry of Finance and Economic Development, has expressed concern at the shortage of chartered accountants in the government.
Launching the International Public Sector Accounting Standards Implementation Strategy Plan in Harare recently, Guvamatanga revealed that Zimbabwe has only one chartered accountant.
He said this shortage of skilled human capital makes it hard to deal will compliance issues throughout government.
For a company to be listed on the ZSE, there is a requirement that it should have a chartered accountant within the skills set of the organisation.
We then have the biggest organisation in the land which is the government of Zimbabwe, you have been told that I was a banker before, I used to run an institution which had a balance sheet of $500m and we had 17 chartered accountants. I come to the government and I’m asked to run a $10bn balance sheet with one chartered accountant.
“When Honourable Tendai Biti calls me and says you’re not complying, where is this report? Honourable Biti, you should understand that it cannot be delivered with just one accountant, and there is really an issue with skills.”