ACCA to meet global standards
Leonard Ncube in Victoria Falls
THE Association of Certified Chartered Accountants (ACCA) is reviewing its mandate to transform itself into a modern organisation in line with changing global economic demands.
This comes at a time when the Zimbabwean chapter is also realigning itself with the new Zimbabwe political and economic trends ushered in by the new political administration. ACCA is arguably the biggest global professional body of chartered accountants with over 208 000 qualified members and more than 500 000 students in over 100 countries.
In Zimbabwe there are 760 ACCA members practising locally while a bigger number is in the Diaspora. The association held its annual winter school, which ended in Victoria Falls on Sunday with 270 delegates, some from Botswana, Ghana, Kenya and South Africa in attendance.
Speaking at the occasion, ACCA head of marketing Mr Takesure Famba said the process of transforming the association started two years ago.
“This is an annual members’ conference to discuss major topical issues that seek to develop the economy. This year we are saying there is a new unfolding business environment and we’re ready to prepare for the future.”
“The major challenge destroying our economy is corruption and mismanagement. All we are saying is, we need to go back to basics and deal with ethics.
This lack of professional conduct among members and other professions is the reason why we want to revisit ethics and bring in new qualification changes,” he said.
“We have made some changes to the ACCA qualifications informed by research we carried for two years globally with the employers and other stakeholders to see what is expected of us to be able to deal with technological developments changes.”
Mr Famba said the profession was aware of digital and technological advances, which are threatening to replace professionals. He said the changes to the flagship qualification will ensure ACCA remains relevant and members continue to be the most valued and sought-after across the globe.
“We’re introducing the changes over time to allow our stakeholders time to understand the drivers for change and to make sure that everyone’s prepared for what’s coming,” he said.
The changes, according to Mr Famba, will provide the “right blend of technical, ethical and professional skills and abilities that are valued by employers”.
He said the final level of the ACCA qualification integrates deep, broad and relevant technical expertise with ethics and professional skills “ensuring our students are prepared to handle workplace challenges as well as make members strategic business leaders,” said Mr Famba.
Chairman of the Zimbabwe Leadership Forum Mr Canaan Dube challenged professionals to be humane and lead in the fight against corruption.
“Professionals need to be humane, led by personal governance, which rides on integrity, ethics, morality, professionalism and values as opposed to corporate governance. The new Government seeks to transform Zimbabwe from a low income country to a middle-income economy by 2030 and you and me should be part of this new paradigm – a new normal,” said Mr Dube, a lawyer.
He also said the drive against corruption should start with every citizen, adding that every professional should focus on creating a new Zimbabwe and be part of the future.