Maravi

Finance ministry hopes new software will reduce fraud

Finance ministry hopes new software will reduce fraud
By Joan Chirwa
Tuesday May 22, 2007 [04:00]

THE Ministry of Finance and National Planning has said the introduction of new accounting software could reduce cases of fraud and the number of people claiming to be accountants. At the launch of the Leadersoft Accounting Software to be distributed by Advance Solutions, chief accountant in the office of the accountant-general Dick Sichembe said there were a lot of frauds going on in the accounting profession which could be eliminated through introduction of new tools for qualified accountants.

Sichembe said the Ministry of Finance would promote any idea that seeks to improve the operations of the accounting systems in Zambia. “Government will encourage small and medium scale entrepreneurs (SMEs) that have ideas of contributing to the growth of this economy,” Sichembe said. “There has been a lot of fraud going on in this country and people have been claiming to be accountants when in fact they are not. I am very sure software like this will help in enhancing the accounting profession.”

Sichembe urged Advance Solutions Limited to ensure that the software is incorporated into the Zambian perspective before being put on to the local market. “You should re-design some of these products from other countries so that they can be fixed into the Zambian situation,” Sichembe said.

He said the government would find a way of doing business especially in public expenditure and accountability.

Sichembe further said companies needed to improve on their processes that were right and change wrong methods in order to protect the economy.

Leadersoft Accounting Software, designed by LeaderSoft (Pty) Limited, has features such as Balance Sheets, Trial Balance, and Sales Reports.

The software also allows companies to send invoices to customers via internet while receiving responses.

It is the first harmonised accounting software to be distributed in Zambia, re-engineered and developed from an existing accounting system still actively in use.

“The accounting packages being used here in Zambia are not harmonised and the Leadersost software will be the first one to have all in one programmes,” said Nalumino Mundia, one of the managers of Advance Solutions.

Labels: ACCOUNTING

posted by MrK @ 10:43 PM