Zambia position statement
As you may be aware, in 2008 a new Accountants Act was brought into effect in Zambia. The Act requires all professional accountants working in Zambia to be members of the Zambia Institute of Chartered Accountants (ZICA). In its capacity as regulator of the accountancy profession in Zambia, ZICA has prescribed that from June 2010, in order to become members of ZICA, ACCA candidates must sit ZICA's Business and Corporate Law, Taxation and Advanced Taxation papers.
This new requirement does not affect members, affiliates and students who passed papers F4 (Corporate and Business Law) and F6 (Taxation) before June 2010. However, there is a future impact on the students of the ACCA/ZICA Joint Examination Scheme (JES) sitting these examinations from June 2010 onwards. A set of Frequently Asked Questions (FAQs) has been produced to provide further clarity around the changes, outline the impact on specific groups of stakeholders and detail ACCA and ZICA's joint approach to the transition.
ACCA is working closely with ZICA to establish transitional arrangements that facilitate a smooth conversion for those affected and minimise impact on our students. ACCA respects the position of ZICA as regulator of the profession in Zambia and, as a committed partner to the national Institute, looks forward to continued collaboration that positively influences the development of the Zambian profession.