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ICAM crackdown on Malawi accountants, expel Ufulu Nalivata: Joseph Kampondeni cleared but cautioned

Institute of Chartered Accountants in Malawi (Icam) has expelled its member Ufulu Nalivata after finding him guilty of fraud by obtaining payment in his favour using recycled supporting documents.

Ufulu Nalivata: Expelled by the Institute of Chartered Accountants in Malawi

In a statement exclusive issued to Icam members which Nyasa Times has obtained, the accountants body said Nalivata committed the crime while working with the National Council for Higher Education (Nche).

“His conduct was found to be in contrary to Section 2.3 of Icam disciplinary guidelines and Section 110 of Ifac code of ethics,” reads the statement.

Icam has also asked Nalivata to surrender to the institution’s secretariat the membership certificate by September 18 2018.

But Nalivata said he will seek an appeal against the Icam Ethics and Investigations Committee to the Malawi Accountants Board.

Icam statement also said the accountants body has cleared Joseph Kampondeni of gross negligence where he was accused of misconduct as head of funding and finance at Technical Entrepreneurial and Vocational Authority (Teveta) for allowing and processing disbursement of funds amounting to K18 million to a Lilongwe-based non government organisations, Ndi Tsogolo Lathu, without any written agreement or memorandum of understanding.

The statement said Icam council noted that Kampondeni facilitated payment for the money relying on approved signatures of the then Teveta executive director Ndione Chauluka.

Besides discharging him with a letter f reprimand, the council also cautioned him that as a professional accountant, he was expected to act more carefully and with more due professional care in the disbursement of the funds.

The aggrieved members have been advised that they have a right to appeal the account of their cases to Malawi Accountants Body.

 

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