HARARE - The Institute of Chartered Accountants of Zimbabwe (Icaz) will be launching a new membership category called Articled Accountant (AA) later this month. This follows wide consultations with Icaz members and other stakeholders, including carrying out studies of similar institutes around the world, the institute said.

“We strongly believe in a transparent and democratic process that is why we sought to consult our stakeholders first on this new membership category,” said Matts Kunaka, Icaz chief executive.

“It remains our prerogative to protect, promote and enhance the CA(Z) brand,” he added.

All current and former Icaz students who completed their Articles, and hold a relevant degree recognised for registration purposes for Zimbabwe Certificate in Theory of Accounting, but have not yet completed the final qualifying examinations are eligible to become an Articled Accountant.

Kunaka said the new category, will help regulate freelance accounting professionals.

His opinion augments the sentiment expressed in the Report on the Observance of Standards and Codes (Rosc) on Capacity Building by the World Bank released in January 2011.

The report noted that graduates with accounting qualifications, but do not belong to any professional body have no regulated professional identity and some end up doing professional assignments for which they are not qualified and allowed to do. The introduction of this category is not a unique phenomenon to Zimbabwe.

Related institutes in New Zealand, Canada, Sweden, Netherlands and Hong Kong, to mention just a few, have this second-tier qualification. - Business Writer