Southern Province Permanent Secretary, Namani Monze has called for the prosecution of all employers who have continued to employ individuals who are not registered with the Zambia Institute of Chartered Accountants- ZICA in finance roles.
He has added that employees performing such roles without ZICA registration must equally be prosecuted without delay in order to rid the accounts profession of rogue individuals, tarnishing its image.
Dr. Monze said this in a speech read on his behalf by Southern Province Deputy Permanent Secretary Yolanta Malunga during the ZICA- Southern Province Accountants Forum and Chapter formation in Choma.
The Permanent Secretary explained that government desires to see a situation where only qualified and regulated individuals work in finance roles adding that having unregulated individuals increases the risk of misappropriation thereby denying citizens the much-needed development.
Dr. Monze has since advised employers to ensure that all individuals they employ in finance roles have valid ZICA membership in line with the provisions of the Accountants Act.
And ZICA President Cecilia Zimba has implored members to partner with the government in delivering developmental projects by conducting themselves in a professional manner.
She added that it is only then that accountancy and finance professionals will earn the trust of those who have given them the mandate to manage both public and organisational resources.
A VERY WELCOME MOVE
SHOULD HAVE BEEN DONE YEARS AGO
Persecute them? Why? LT what?
@ Deja Jy: we know that you pf cadres are not educated and yet u were employed in key positions in parastatals. You need to go now
That may not be possible because there are many SMEs that can’t afford accountants, besides ZRA allows companies to file unaudited financial statements. Do you think a person running ramshackle boats at Kasanka in Kafue can afford an accountant? ZICA has just become a money making institution without any agenda that benefits accountants. The Engineering Institution failed to prosecute welder of Kalingalinga that make door frames. The people that audited Agri Flora and declared it viable were very qualified accountants but the company was declared insolvent a few days later. Make proposals that make sense. The Economics Association has disowned Chibamba, has he been prosecuted?
In all fairness, I think they should help those who have worked diligently without qualification, to get qualified and registered.
#2 You can’t even see a joke.. your mother is general Secretary of PF.
LT is becoming even more ballsy now … persecute? What have those accountants done? Are you instituting gallows?
I like this PS. Any business which cannot comply with regulation should not operate in Zambia. PS, i would like to let you know that the major culprit in all this is ZICA. They have been given this regulation which they have failed to enforce. Some companies with unregistered Accounting staff have resorted to start registering their unregistered staff as students of ZICA who have and will never attempt any ZICA exams. This is in order to deceive ZICA that since they were registered as students, they are actively involved in Accounting studies. But the law is very clear, you can register as Technician, Licentiate, Associate or Fellow etc. Anything short of this one should not work in Finance role at any level. ZICA themselves have caused frustration amongst Registered Accountants by…
So this one is hoping to fix non tonga enemy who doesn’t have registration. Upnd are too personal
COME ON NOW ARE WE STILL IN A LAWLESS SOCIETY ?
PLEASE LEARN THE DIFFERENCE BETWEEN ACCOUNTANTS AND BOOK KEEPERS
I have never heard that a first year Nursing student or Teacher is practising untill they finish their programs, then they can be issued with practising certificates to work according to the level of qualification just like Accounting Technician, Electrical Technician, craft etc. But alas ZICA is different. You just need to register as a student and you’re warm and dry. The PS is on spot and we all need to align with UPND govt policies which is a GOVT of laws.
@Tikki, was equally wondering if its book keepers to be prosecuted. In Zambia individuals who have studied accountancy without being registered work effectively as accountants and excel to managerial positions. This is cheaper for employers as registered accountants over rate themselves like lawyers do. The concept of prudence demands reduction of overheads for highr earnings. Make your suit according to the cloth available.
Confusion with Accountancy starts with definition of an Accountant? Plus too many alternatives for accounting role which at times & unfortunately would even include Business administration. However, an Employer wud decide depending on company size to employ Technician Accountant, Licentiate Accountant up to fellow. We hav seen adverts for anyone with any business related qualification as Accountant. This is the sad Truth about Accounting. However, One with Full CIMA/ACCA/ZICA plu 3 yrs experience is Chartered accountant. As for registration, everyone doing Finance job need registration, from your Bookkeeper to Finance manager.
Very misleading headline.
”PERSECUTE” OR ” PROSECUTE” be mindful of your writing.
ZICA IS A MAJOR LETDOWN FOR ALL WITH THE ACCOUNTS QUALIFICATION IN ZAMBIA. A LOT OF COMPANIES HAVE EMPLOYED PEOPLE TO DO ACCOUNTANT ROLES WHO ARE NOT QUALIFIED TO DO THAT AS LONG AS THOSE PEOPLE AGREE TO BE PAID LESS AND KNOW SOME BASICS OF ACCOUNTANCY. IN DOING SO THEY HAVE FLOODED THE MAJOR ACCOUNTS POSITIONS TO THE SO CALLED EXPATRIATES WHILE HIGHLY QUALIFIED ZAMBIAN PEOPLE ARE RESTRICTED TO DONKEY JOBS. ZICA HAS BEEN VERY CORRUPT IN ENFORCING THESE LAWS AND HAVE COST THE PROFESSION VERY MUCH. HOW DOES THAT ACCOUNTANT WITH NO JOB FEEL WHEN HIS BILL TO PAY ZICA MEMBERSHIP KEEPS INCREASING AND EVETUALLY DEREGISTERED DUE TO NON QUALIFIED PEOPLE HOLDING THESE JOBS?. AS AN ACCOUNTANT I FEEL ZICA IS VERY CORRUPT AND USELESS INDEED AND ALL ACCOUNTANTS MUST BOYCOT PAYING MEMBERSHIPS UNTIL THIS…
Persecute means something very different from prosecute, Ba LT! You prosecute law breakers but you persecute innocents.
This assertion is wrong. Anyone can perform finance and accounting roles, as long as they have the knowledge, skills and experience regardless of the registration requirement. In the UK people work as accountant qualified by experience.
However , registration with ZICA would be required only when filing statutory accounts, submission of tax returns , auditing, advisory services etc. Also, the claim that having unregulated individuals increases the risk of misappropriation, is simply not true and a fallacy of composition.
LT why do you always have to withhold my comments? There is no one you are trying to protect. You tried to protect Lungu. Lungu lost miserably together with you lot.