Mwanajiti questions LAZ,ZICA over financial scandals by members
By Masauso Mkwayaya
Human Rights Defender NGANDE MWANAJITI has expressed alarm at the growing involvement of professionals in financial scandals, citing a case where an individual was found with 25 million United States Dollars.
Mr. MWANAJITI has questioned how such a substantial amount could be linked to a member of a regulated profession.
He says a professional is expected to adhere to ethical and operational guidelines.
Mr. MWANAJITI says professional bodies such as the Law Association of Zambia -LAZ- and the Zambia Institute of Chartered Accountants -ZICA- have implemented laws and regulations to govern member conduct.
He says while these measures are designed to maintain standards, they fall short of addressing deeper systemic issues of corruption within these fields.
In a statement to ZNBC News today, Mr. MWANAJITI said Zambia’s ongoing battle against corruption is intensifying the scrutiny on the effectiveness of professional bodies in regulating their members.
He said some law firms have been implicated in transferring large sums of money abroad under dubious “client instructions.” while the Financial Intelligence Centre -FIC- reports have underscored the need for enhanced oversight within the legal community.
Mr. MWANAJITI has also mentioned the accounting sector with reports of ZICA members involved in facilitating questionable payments.
