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ICSAZ boss warns business

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As the nation sinks deeper into economic turmoil, business has been warned against seeking illegal ways to survive the harsh environment, as this comes with serious ramifications.

BY TINOTENDA MUNYUKWI

Speaking to NewsDay on Friday, on the sidelines of the Institute of Chartered Secretaries and Administrators in Zimbabwe annual conference in Victoria Falls, the institute’s president, Paradza Paradza said resorting to unethical shortcuts to make up for losses created by the harsh economy had harmful effects at a later stage.

“I have experience of the 2007-2008 turmoil in which those, who adhered to ethics are still there right now, but those, who were taking shortcuts no longer exist because once you cut corners, you are not sure of what is holding you,” he said.

“I remember in 2009, when the economy turned, most people could not continue because they were still cutting corners. Ethical stewardship is very key, as ethics are now a topical issue for both governance and compliance.”

Paradza challenged organisations to follow guidelines and align themselves to norms and values that upkeep their operations and avoid at all costs covering up illegal activities.

“To produce goods and services ethically in today’s business environment requires more than just advanced technology, but adherence to local, regional and international standards in best practices.

“For example, there are standards in environmental management, occupational health and safety, quality management, information security management, financial reporting, corporate governance and corporate social responsibility. We urge all not to cover illegal activities,” he said.

Companies have taken to unethical practices that range from tax evasion to poor environmental management by those involved in industrial production, in a blatant bid to cut costs and survive the rough economic environment.

Early this year, the Zimbabwe Revenue Authority announced plans to attach properties for tax defaulters, as part of government’s desperate measures to raise the country’s dwindling revenue.

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