Exchange & inflation chaos soil financials

BUSINESS continues to contend with major accounting and reporting challenges, amid the high inflation and exchange rate volatility, the Institute of Chartered Accountants of Zimbabwe (ICAZ) has said.
This comes as reporting companies are still receiving adverse audit opinions on their results, an annual trend that began in February 2019, when the government controversially effected the conversion of US dollar balances to the local currency at a rate of 1:1, contrary to international accounting standards.