THE Institute of Chartered Accountants of Zimbabwe (Icaz) has reported a low uptake of its Public Sector Professional Accountant of Zimbabwe (PSPAZ) qualification by local authorities as they constitute 14% of the students.
The PSPAZ programme was established two years ago to enhance professionalism and promote sustainability within the public sector.
According to Icaz president Brice Musendo, 65 registered members have graduated from the accelerated programme, while 355 students are enrolled in the three-year conventional programme.
The low uptake raises concerns over the local authorities’ commitment to enhance professionalism and financial reporting.
“The low uptake in local authority is concerning. I urge those who have not yet signed up to sign up, as the professional competence and skills gained from the qualification will soon become mandatory for those in key positions overseeing public funds,” Musendo said at the two-day third edition of the Icaz Local Authorities Convention in Nyanga last
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week.
He noted that after the implementation of the International Public Sector Accounting Standards (IPSAS) programme by year-end, local authorities should be able to effectively address increasing environmental, social and economic challenges.
Government aims for full IPSAS compliance by the end of 2025, supported by the PSPAZ programme.
“Completing the programme allows registration for IPSAS membership, offering members significant benefits and responsibilities in addition to playing a vital role in shaping the profession, as well as contributing to the economy as a whole,” Musendo said.
Two years ago, Icaz established the Public Sector Professional Accountant of Zimbabwe to enhance professionalism within the public sector. At present, there are 65 registered members from its accelerated programme.
“The first graduates from the three-year conventional programme are set to complete their qualification by 2025, aligning with the government’s adoption of IPSAS by the end of the financial year on December 31, 2025.”
A December 2024 report by the Parliamentary Portfolio Committee on Public Accounts revealed that local authorities lacked permanent accounting officers and finance directors, which fuelled rampant financial mismanagement.
NewsDay Business understands that Icaz is working with the government to address the critical need for collaborative dialogue among local authorities as communities face increasing environmental, social and economic challenges.
Musendo said this year’s convention provided a platform for sharing best practices and innovative strategies that aligned the allocation and use of financial resources with sustainable development goals.
“By emphasising compliance with audits and sustainability frameworks, local authorities can then enhance transparency, accountability, fostering trust within their communities,” he said.
“There is a need to empower local authorities to make informed decisions, ensuring that their initiatives are not only meeting immediate needs but also contributing to long-term financial resilience and prosperity.”
