Page 32 - CMA Journal (May-June 2025)

Focus Section

2) Ease of Doing Business – The government should
simplify legal and regulatory requirements to ease
business operations. This will reduce opportunities
for corruption. Reforms in institutions such as the
Federal Board of Revenue (FBR) and the Securities
and Exchange Commission of Pakistan (SECP)
should focus on minimizing human interference.
3) Digital Economy – Transitioning to a digital
economy can reduce cash-based transactions and
promote documentation. As a result, increases in
the assets of government officials and private
executives can be better justified, thereby reducing
the presence of black money.
“ In Pakistan, corruption significantly administrative decisions can significantly curb

contributes to inflated operational costs. corruption and reduce unnecessary operating costs.
8) Staff Training – Regular training sessions for
However, it can be controlled through employees on ethics, compliance, and transparency
should be conducted to cultivate an anti-corruption
digitalization of the economy, reduced culture within organizations.

human involvement in compliance Conclusion

processes, simplified legal procedures, In Pakistan, corruption significantly contributes to
inflated operational costs. However, it can be controlled
structural reforms in institutions, the through digitalization of the economy, reduced human
involvement in compliance processes, simplified legal
use of modern technology, and strict procedures, structural reforms in institutions, the use of
modern technology, and strict legal enforcement.
legal enforcement “ Organizations can reduce operating costs and improve
efficiency by adopting ethical governance, strong
internal controls, and effective accountability systems. At
4) Safety and Encouragement for Whistleblowers –
the societal level, corruption can be curbed by
The government should take effective steps to
incorporating ethics education at all stages of academic
protect whistleblowers who expose corrupt
learning. When a nation becomes fully aware of the
practices. Financial incentives and legal protection
implications of corruption, citizens begin to hold
should also be offered to encourage more
authorities accountable and reject unethical practices.
individuals to come forward.
Though this is a long-term solution, it plays a vital role in
5) Strengthen Judicial System – A strong judicial building a more transparent and accountable society.
system can play a vital role in reducing corruption by
References:
ensuring the swift prosecution of corruption cases
without political or external pressure. https://infogalactic.com/info/Corruption_in_Pakistan
https://www.dawn.com/news/1450995/2018-in-review-biggest-corruptio
6) Strengthen Audit and Control Systems – Robust
n-scandals-of-the-outgoing-year
audit and internal control mechanisms can deter
corruption in both public and private organizations. https://www.dawn.com/news/784195/20-corruption-cases-detected-in-st
eel-mills-in-five-years-2
A strong internal compliance department should
ensure timely and accurate fulfillment of legal About Author: Muhammad Tanveer ul Qamar is an Associate
requirements to reduce the likelihood of corrupt Member of ICMA Pakistan and an entrepreneur. He is the CEO of
Allied Financials, a management accounting firm. He has
practices.
diversified experience in financial and tax consultancy, corporate
7) Multi-Level Approval System – Implementing a services, and real estate investment advisory. He is also
experienced in providing freelancing services related to financial
multi-tiered approval process for key business and
reporting and management accounting.
30 ICMA’s Chartered Management Accountant, May-June 2025