Zimbabwe: 'Tighten Internal Control Systems'

27 October 2017

Government should tighten internal control systems in both public and private organisations to curb revenue leakages, Vice President Phelekezela Mphoko has said. His sentiments come at a time when the country is reportedly losing millions of dollars due to externalisation, tax evasion and smuggling.

Officiating at the 3rd Internal Control Congress for Africa organised by the Internal Control Institute of Zimbabwe (ICIZ), which opened here yesterday, VP Mphoko said criminal activity at border posts and within organisations could only end with the enactment of robust internal control systems. Internal control systems are used in accounting and auditing as a process for assuring achievement of an organisation's objectives in operational effectiveness and efficiency, reliable financial reporting and compliance with laws, regulations and policies.

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