THE Institute of Chartered Accountants of Zimbabwe (Icaz) is marking 108 years of what its leadership describes as relentless institutional hyperactivity. It is a period defined by explosive membership growth, widening access to the profession, and the forging of strategic global partnerships that have elevated the standing of Zimbabwean chartered accountants worldwide. Operating in a volatile economic environment, the institute says it has focused on safeguarding professional standards, while aggressively modernising training, regulation and digital capabilities. Icaz president Emmanuel Mudefi (EM, pictured) spoke to business reporter Blessed Ndlovu (BN) about the organisation’s transformation, international engagements, and priorities as it positions the profession for a technology-driven future. Below are excerpts from the interview:
BN: Looking back over more than a century, what would you describe as Icaz’s most significant contribution?
EM: One of the Institute of Chartered Accountants of Zimbabwe’s most significant achievements has been sustained membership growth, coupled with transformation of access to the profession. When Icaz was established in 1918, it had fewer than 30 members. Today, we have grown to over 3 000 members, which represents a remarkable milestone in the institute’s history. More importantly, this growth has not been elitist. Icaz has deliberately widened access to the profession, enabling individuals from underprivileged backgrounds to qualify as chartered accountants. I am myself a product of that support. Without the assistance I received from Icaz in 2004, I would not have become a chartered accountant, let alone president of the institute today. That journey speaks directly to the institute’s impact on social mobility and national skills development.
BN: Any more achievements?
EM: Beyond numbers, Icaz has been built on a foundation of integrity. Integrity underpins our training, regulation, disciplinary processes and member support. Over the years, this ethos has been deeply ingrained in our members and has helped sustain public trust in the profession. In addition, Icaz has played a critical role in national development through its contribution to the setting, review and localisation of accounting, auditing and ethical standards, working closely with the Public Accountants and Auditors Board (PAAB).
BN: How has Icaz influenced Zimbabwe’s economic and policy landscape?
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EM: Icaz has consistently influenced national economic development through its role in auditing, taxation, governance and financial reporting. For over 108 years, our members have issued audit reports that provide confidence to Zimbabwe’s capital markets, investors and the broader public.
This continuity has helped sustain public trust across generations. Our members operate across the public and private sectors, contributing to transparency, accountability and good governance. Through the institute and its committees, we monitor economic, legislative and regulatory developments that affect the profession and the economy. Where necessary, we proactively engage policymakers and regulators, proposing solutions before risks materialise.
This forward-looking approach has allowed Icaz to modernise the competencies of its members, ensuring they are equipped to identify governance weaknesses, manage risk and provide strategic advice. In that way, the institute has remained relevant despite economic volatility and structural changes in the country.
BN: Zimbabwe operates in a challenging environment. How has Icaz ensured that standards remain relevant locally?
EM: While international standards provide a global benchmark, they must be interpreted and applied in a way that reflects Zimbabwe’s economic realities. Icaz has therefore consistently advocated for the review and contextualisation of accounting, auditing and tax standards to ensure relevance. Through our Accounting Practices Committee, Accounting and Professional Standards Committee, and tax and legislation committees, our members play a leading role in reviewing standards, refining guidance and engaging regulators. This ensures that global best practice is applied pragmatically, without compromising quality or integrity.
BN: With the rapid rise of artificial intelligence and digital technologies, how is the organisation future-proofing the profession?
EM: We recognised early that the role of the chartered accountant is evolving. As a result, Icaz developed a new competency framework known as CA 2025 — the Chartered Accountant of the Future. This framework is designed to produce well-rounded professionals with strong technical expertise, digital literacy, strategic thinking and ethical judgment. The framework officially came into effect on January 1, 2026 and applies to all new trainees whose contracts commence from that date. Trainees under this framework will receive training that equips them to operate in technology driven environments, engage with data analytics and artificial intelligence, and add value beyond traditional financial reporting. In essence, Icaz has demonstrated its ability to anticipate change and respond decisively, ensuring that the profession remains relevant to the economy and society.
BN: What global achievements has Icaz recorded in recent years?
EM: Icaz has made significant progress in strengthening its global footprint through mutual recognition agreements with like -minded professional bodies. These include agreements with the South African Institute of Chartered Accountants, the Institute of Chartered Accountants in England and Wales, Chartered Accountants Australia and New Zealand, CPA Canada, Hong Kong CPA, the Institute of Chartered Accountants in Namibia, and Chartered Accountants India. These agreements enhance the international mobility of our members and reinforce the global credibility of the Icaz qualification.
BN: As the institute marks 108 years, what are your key strategic priorities?
EM: Our first priority is membership growth. While we currently have over 3 000 members, this remains relatively low when compared to peer institutes globally. Numbers matter because impact and influence increase with scale, both locally and internationally. However, growth must be accompanied by value. Our strategy is not simply to increase membership, but to ensure meaningful value-addition through improved member services, enhanced training, stronger professional support and tangible career benefits. The second strategic priority is safeguarding integrity and public trust. Over the past 108 years, integrity has been our cornerstone. During this presidential term, we have intensified engagement with members across all sectors — public practice, industry, commerce, education and the public sector — to understand emerging challenges and respond effectively.
BN: How is this engagement being implemented in practice?
EM: We have actively consulted members to gather feedback on professional, regulatory and operational challenges. This process has already yielded valuable insights, and we are responding with targeted interventions. By addressing member concerns proactively, we reinforce ethical conduct and maintain public confidence in the profession.
BN: Public sector capacity has featured prominently in your agenda. Why is this a focus area?
EM: Strong public financial management is essential for national development. To support this, Icaz introduced the Public Sector Professional Accountant Zimbabwe (PSPAZ) designation, aimed at building accounting and financial management capacity within the public sector. We are strengthening the entire PSPAZ training pipeline — from examinations and practical training to assessments and member support — to ensure quality outcomes. To date, 88 PSPAZ members have been admitted, with over 300 trainees currently enrolled at various stages of the programme. In addition, Icaz has been at the forefront of supporting the implementation of International Public Sector Accounting Standards. While some entities are still finalising full adoption, significant progress has been made, and Zimbabwe is firmly on the right path.
BN: How is Icaz widening access to the profession beyond the traditional chartered accountant route?
EM: To broaden access, Icaz introduced mid-tier designations: Accountant Technician Zimbabwe (ATZ) and General Accountant Zimbabwe (GAZ). ATZ targets entry level and technical roles such as bookkeepers, while GAZ caters for mid-level accounting and finance professionals. These programmes allow individuals to enter the profession from as early as Ordinary Level, progress through structured learning and practical experience, and ultimately advance to chartered accountancy if they so choose. This flexible pathway addresses skills shortages, particularly for small- and medium-sized enterprises, which often require competent professionals at affordable cost.
BN: What achievements stand out under your strategic priorities so far?
EM: Since 2022, Icaz has recorded membership growth averaging between 25% and 30%, translating to nearly 1 000 new members. This is a significant achievement and demonstrates the growing relevance of the profession. We have also successfully launched the mid-tier designations in Harare and Bulawayo, with enrolments already underway. While these programmes are still gaining traction, awareness and uptake are steadily increasing. On the operational front, Icaz has accelerated digital transformation. Members can now obtain letters of good standing instantly online. We have also implemented a learning management system that will allow members to complete continuing professional development (CPD) remotely.
BN: How is Icaz addressing sustainability as well as environmental, social and governance (ESG) reporting?
EM: Sustainability and ESG reporting are increasingly important. Icaz is working closely with PAAB and other stakeholders to ensure a smooth and well coordinated adoption of sustainability standards in Zimbabwe. We are focusing on capacity building for both preparers and auditors through short courses, CPD webinars and workshops. These initiatives provide both theoretical grounding and practical guidance. In addition, Icaz now hosts an annual flagship ESG and sustainability event, reflecting the growing importance of this area.