UK doors opening for Zimbabwe accountants

THE Institute of Chartered Accountants of Zimbabwe (ICAZ) is in advanced discussions with United Kingdom–based professional bodies to finalise a new mutual recognition agreement, a development set to significantly expand international opportunities for Zimbabwean accountants.

The agreement, which is expected to be signed by April, will enable locally trained chartered accountants to access global markets more easily, boosting the international portability and recognition of Zimbabwean qualifications.

ICAZ president Emmanuel Mudefi said the initiative forms part of the institute's broader strategy to enhance professional mobility, strengthen the competitiveness of the local accounting profession, and meet growing demand for globally recognised credentials.

"We are engaging one of the parties in the UK, who we believe is a strategic partner, so that we can conclude another mutual recognition agreement before the end of this presidential term," Mudefi told NewsDay Business.

He said negotiations with several international partners were now at an advanced stage.

"The draft agreement has been reviewed, and all that's left is for the parties to complete the relevant legal formalities before appending their signatures," Mudefi said.

Beyond international recognition, ICAZ is also addressing concerns raised by its members regarding operational and professional challenges, with solutions expected to be announced before the end of February.

"We have identified some of the challenges that are affecting them, and we are already responding to those challenges so that we safeguard the key priority of integrity and public trust," he said.

Mudefi added that once the planned interventions are unveiled, they are expected to significantly improve member support and professional efficiency.

"What we believe is that once we announce some of those solutions to our members, it will go a long way in providing support so that their work is very efficient and effective," he said.

At the same time, ICAZ is implementing a digital transformation programme aimed at modernising service delivery and improving efficiency across its operations.

"ICAZ has acquired or developed several systems that are meant to respond to the digital needs of our students, members, employees and other key stakeholders," Mudefi said.

The planned UK agreement is expected to further cement ICAZ's standing as a globally connected professional body and enhance the global mobility of Zimbabwean accountants.