The financial services sector is stepping up efforts to equip professionals to curb fraud and corruption following an agreement between the African Association of Financial Forensic Analysts, (AFFA) and the Southern African Association of Accounting (SAAA).

Under the agreement by SAAA and AAFFA signed in the capital, accounting professionals will become equipped with skills to carry out forensic accounting which detects fraud and theft.

SAAA President, Mr Artwell Katsande said it is critical for accounting professionals to adopt modern practices that help them cope with the fast changing business environment.

AAFFA Executive Director, Mr Proctor Nyemba said fraudsters are devising new theft strategies each day adding that there is need to create counter measures to minimise companies’ revenue losses.

The initiative comes at a time industry and commerce is ceased with addressing corporate governance issues as part of efforts to improve ease of doing business.