The Institute of Chartered Secretaries and Administrators in Zimbabwe (ICSAZ) has been admitted to the International Federation of Accountants (IFAC) as an associate member, only the second Professional Accountancy Organisation in Zimbabwe to become a member.
IFAC is the global organisation for the accountancy profession. It has more than 175 member and associate member organisations in 130 countries and jurisdictions, together representing nearly three million professional accountants.
The decision to admit ICSAZ as an associate member was announced following a virtual meeting of the IFAC Council on Wednesday, which accepted an IFAC board recommendation, made in September, that ICSAZ be admitted as an associate member.
Previously the Institute of Chartered Accountants of Zimbabwe was the only local institute belonging to IFAC
IFAC membership is a globally recognised hallmark of a high quality professional accountancy organisation. Its requirements for membership include the adoption of international standards and support for their implementation, thereby demonstrating a member organisation’s expertise in and commitment to international standards, best practice and serving the public interest.
Commenting on the institute’s admission to IFAC, ICSAZ chief executive Dr Lovemore Gomera said he was delighted that the institute’s application for membership had been accepted.
“ICSAZ as a division is unique within the global Chartered Governance Institute (CGI) in producing chartered governance professionals who are also professional accountants. Our members are able to register as public accountants with the Public Accountants and Auditors Board (PAAB), a body on which ICSAZ is also represented.
“It has long been our wish to become members of IFAC, the international accountancy body. Our admission as a member of IFAC is a significant milestone for ICSAZ and confirms our place within the accountancy profession,” Dr Gomera said.