THE Anti-Corruption Commission (ACC) has said it will investigate recent reports of abuse of public funds to ensure accountability of national resources.

The ACC said it would institute investigations into the unaccounted for revenue amounting to KR531 million (K531 billion) soon after studying the latest Auditor General's report for the financial year ending December 31, 2011.

ACC acting public relations manager Queen Chibwe assured that the commission would diligently tackle all cases relating to corruption which are within its mandate in public interest.

Ms Chibwe said in response to the Times of Zambia Press query that the ACC had already signed a Memorandum of Understanding (MoU) with the Auditor General's office to facilitate information sharing and enhance the fight against corruption.

"I wish to inform you that the ACC and the Auditor-General's Office signed an MoU in June, 2012 which facilitates the sharing of information and findings between the two institutions," she said.

Ms Chibwe said the MoU allows the ACC to access audit reports to facilitate the investigation of corruption-related matters.

The financial report released last week revealed an excess expenditure of KR456 billion (K456 trillion).

It also revealed misappropriation of funds amounting to more than KR23 million (K23 billion) and abuse of resources amounting to KR1 billion (K1 trillion).

The report shows financial irregularities which include failure to follow procurement procedures amounting to more than KR4 million (K4 billion) and non-payment of returns amounting to KR27 million (K27 trillion).

It captures the wasteful expenditure of more than KR2 million (K2 billion), unvouchered expenditure which stands at KR77 million (K77 billion).

Unaccounted for stores stand at KR 22 million (K22 billion), while unauthorised expenditure of KR 456,000 (K456 million) was also reported.