Malawi to institute ‘comprehensive’ forensic audit

Malawi says it will conduct a ‘comprehensive’ forensic audit of the Integrated Financial Management Information Systems (Ifmis) from 2005 when the system was introduced.

Minister of Finance Maxwell Mkwezalamba and Minister of Information Brown Mpinganjira said jointly when they addressed a news conference to brief journalists on the implementation of the Government Action Plan aimed at addressing weaknesses in the public financial management systems.

Mkwezalamba said it was imperative for government to conduct another forensic audit which he said will complement on the ongoing forensic audit covering for six months from April to September, 2013.

Said the minister: “This is what government will be undertaking at an earliest opportunity,we are just waiting for the findings of the current forensic audit.”

The minister’s sentiments come barely a few days after ex-Reserve Bank of Malawi (RBM) governor and former minister of Economic Planning and Development Proffessor Matthews Chikaonda has told the public that massive looting of public funds, popularly known as cashgate dates back in the year 2005 when expenditure ceilings were removed from the government’s main expenditure control measures.

The Finance Minister told journalists that government and the public have a strong conviction that financial mismanagement started a long time back, hence the need for a comprehensive audit.

“As government, we are committed to undertaking this audit and resources will be identified as soon as possible after the current forensic audit is done,” said Mkwezalamba.

On his part, Mpinganjira said the ongoing forensic audit of government transactions processed through Ifmis is on track and that an interim report is expected by end of January.

The government spokesperson also said a high-level brief of the audit will be released by end December 2013.

Mpinganjira also explained that government intends to strengthen the role and functions of Central Internal Audit Unit, adding that training and capacity building initiatives of the unit will begin in January from the World Bank’s financial reporting oversight and improvement project.

On accounting, Mpinganjira said government has floated an advert for an ICT security officer position in the local newspapers and said such initiative is being supported by German government.

“Government strongly condemns any acts of fraud and corruption in its ministries, departments and agencies and has waged the deliberate clean-up fight,” said the minister.