Member Administration

 

Letter of Good standing

A letter of good standing is issued to a member who has fully paid subscriptions and is complaint with the minimum CPD requirements of at least 20 verifiable hours per annum.

Upon completion of the letter of good standing declaration and clearance form and ensuring that subscriptions and CPDs are up to date, the member may make a request for a letter of good standing by sending through the form to [email protected]



Practising Certificate

A practising member is a member who is in good standing with a constituent body (ICAZ), holds a practising certificate issued by the constituent body and is registered with PAAB.


Practising includes rendering any auditing, public accountancy, or tax accountancy services. Audit is the verification or certification of financial statements, financial transactions, books, accounts or record. Public accountancy services means all the services that a general accountant and a tax accountant may offer for hire or reward. Tax accountancy services on the other hand are defined as the preparation, submission and certification of a tax return or other return in terms of any one or more of the revenue laws the doing or any other thing required to ensure compliance with a revenue law.



ICAZ is guided by the Public Accountants Act on issuing out Practising Certificates to its members meaning the member should be registered with PAAB first.
ICAZ practising certificates are renewed annually and the member must have a valid professional indemnity insurance cover.
The governing act, in section 26, specifically prohibits individuals from practising without a valid practising certificate. 
Practising without a practising Certificate is an offence and may result in a fine of up to level eight or a jail term of up to a maximum of 6 months. Alternatively, an offender may be subject to both a fine and imprisonment.


Who can apply for a practicing certificate?

Practising certificates are only issued to members who are registered in the PAAB register and members in good standing with both their CPDs and subscriptions.

Requirements for an ICAZ Practising Certificate

  • ICAZ PC completed form
  •  Payment of USD235 for the certificate
  • Payment for the Insurance cover (unless if you have your own, which you would then need you to attach the document to your application)

Practising members are those members who do any of the following:

  1. Accept an appointment as an auditor 
  2. Become a principal in an accountancy firm 
  3. Sign or produce any accounts, reports, certificate 
  4. Tax return that a 3rd party may place reliance on, operate in a private practice or operate in a firm that is known as a “Chartered Accountant” firm.

The pre-requisites of a Practising Certificate application are:

  1. A fully registered member of ICAZ 
  2. Attainment at least 20 CPD hours for the current year 
  3. Completion the Practising Certificate Online Application Form 
  4. Proof of professional Indemnity or subscription through ICAZ

Find below your ICAZ links to the 2023 ICAZ Practising Certificate renewal form, memorandum from the Registrar, PAAB Practising Certificate Application Form, PAAB, ICAZ and ZimSelector banking details. 

For the PAAB Practising Certificate, the following will be required:

  • PAAB application form, which should be submitted simultaneously with the ICAZ PC and you, pay USD$431.25 ( RPA/ RPAcc) and USD323.40 (General Acc & Tax Acc) for the PAAB PC (Which is paid directly into the PAAB Account). Please also note that the PAAB PC is a once-off application while the ICAZ PC is renewed every year. 
  • Very important: members will also need to register their auditing company with PAAB and pay an amount (Which is paid directly to PAAB). Kindly email them for the specific Firm License Requirements on [email protected]

You will also be required to submit the following for the PAAB PC:

  1. Your ID copy
  2. Your Curriculum Vitae 
  3.  A copy of your ICAZ Practising Certificate
  4.  A copy of your PAAB Registration Certificate
  5.  The Quality Control Manual for your firm
  6.  Motivational Letter
.

Documents

Document IconPC Memorandum May 2023
 Download here

Document IconForm P A A B 10 Application Form for Practising as a Public Auditor
 Download here

Document IconICAZ CBZ NOSTRO ACCOUNT
 Download here

Document IconPAAB USD BANKING DETAILS
 Download here

Document IconZimselector Banking details
 Download here