Zambia Institute of Chartered Accountants
- ZICA Accountancy Programme
The Zambia Institute of Chartered Accountants (ZICA) is a self-regulated membership body for the accountancy profession in Zambia. It was established under the Accountants Act of 1982, and as amended by the Accountants Act of 2008. Its primary mandate is to foster the advancement of the accountancy profession in Zambia, which is mainly done through the regulation of the education of accountants, regulation of the accountancy practice, provision of continuous professional development, provision of technical updates and provision of accounting technical guidance for members and industry.
‘A world class professional accountancy regulator and educator.’
‘To uphold the highest professional standards in accountancy education and practice through a highly skilled and motivated staff.’
OUR CORE VALUES
Regulation of Education of the Accountant
The Institute is mandated by law to register all accountancy students in Zambia and regulate standards of training and practice, including the holding of examinations necessary to qualify applicants for membership of the Institute. The Act also gives power to the Institute to develop, promote, maintain and improve appropriate standards of qualification in the accountancy profession.
Regulation of the Accountancy Practice
The Institute registers all practicing accountants in Zambia as required by the Act. According to the Accountants Act of 2008, an accountant means a person qualified in the theory and practice of accountancy, auditor, tax consultant and tax advisor and registered under this Act. A person may however have read the theory and practice of accountancy but if such a person is not registered as provided for in the Accountants Act of 2008, such a person is not an accountant in the eyes of the law. The Institute further regulates and governs the conduct of its members in the practice of their business and profession. It further maintains appropriate practice standards that are consistent with the principle of self-regulation and protection of public interest among members.
Accountancy Qualifications Offered
At the moment, the Institute offers two qualifications namely the ZICA Accountancy Programme and the Diploma in Taxation Programme.
Under this Programme, the institute offers three qualifications which are Technician, Licentiate and Professional. The three qualifications are separately certified to meet the varied needs of various stakeholders. These three qualifications meet the IFAC Educational Standards. The following are the enrolment requirements for the three qualifications:
|Contents of the Qualification||Comprises seven subjects that prepare one to work as accounts assistant.||Covers eight subjects. It prepares you for middle management accounting duties.||Covers five subjects. it prepares students for high level accounting and management roles.|
|Entry Requirements||Credits or better in five O level subjects including Maths and English.||Technician certificate or any equivalent certificate accredited by the Institute.||Licentiate Certificate or any other accountancy degree/qualification recognised by the institute.|
Diploma in Taxation Programme
The Diploma in Taxation Programme was introduced in 2013. This is a specialised programme which draws subjects from law, administration and accountancy. The programme provides a thorough understanding of the tax system and practice of taxation in Zambia. The programme is designed in such a way that it enhances the understanding of tax among professionals from a wide range of disciplines.
The entry requirements for the Diploma in Taxation Certificate are credits or better in five O level subjects including Maths and English. For the diploma level, the entry requirement is the Certificate in Taxation or any equivalent certificate recognised by the ZICA.
The Institute is in the process of developing a Public Sector Accounting programme which is dedicated to the development and enhancement of the technical skills of accountants with a career in the public sector. The programme will meet the requirements of the central and local government accountants. The entry requirements are though with approved accounting qualifications.
The other programme, which is in the pipeline in the development of the specialist Insolvency practitioner’s qualifying examinations, is to meet the needs of various stakeholders such financial institutions.