Omega Ukama 
THE Institute of Chartered Accountants of Zimbabwe’s (ICAZ) newly elected president Fungai Kuipa, has challenged the profession to reclaim its relevance in the country.
According to a research done by former ICAZ president Martin Makaya in 2008, in a sample of 53 Zimbabwe Stock Exchange-listed entities, 67 out of 91 board members were ICAZ members.
Kuipa said this shows that chartered accountants (CAs) are well-positioned to provide invaluable input and guidance for the betterment of the economy.
“But sadly, we have not,” he said in his inaugural speech at ICAZ’s Winter School and Investor Attraction Conference in South Africa over the weekend.
“You see my fellow colleagues, what good does it do us to claim to be the pre-eminent profession body, but fail to deliver. What good does it do us if we are labelled as cowards in some circles and fail to rise to the occasion when required.
“If there is one thing we understand in this profession, it is deliverables,” he said.
The new president noted that CAs had been criticised for turning a blind eye to corruption.
“This has undoubtedly dampened our standing in terms of the value that we provide both within and outside our institute.
“I challenge members here present and those tuned in via live streaming that there is no such time as this to regain footing, and participate at various levels of both the private and public sectors while speaking to our core values: Responsibility, Honesty and Integrity.
“Let us reclaim our relevance fellow members,” Kuipa said.
Kuipa, who was previously senior vice president, replaced Deloitte partner Tapiwa Chizana who stepped down after the expiry of his term.
Duduzile Shinya, who is the chief financial officer at Amalgamated Brands, was elected the senior vice president, while Deloitte’s assurance director Tumai Malinga, is now junior vice president.
Meanwhile, the winter school was a resounding success after more than 300 delegates, including Energy minister Fortune Chasi, converged at the Sun City resort for the prestigious calendar event.
This year’s edition of the winter school, which ran from August 29 to the 1st of September, was held under the theme “Disruptive Innovation — Investing for Growth”.
“The Institute of Chartered Accountants of Zimbabwe has consistently contributed to both the accounting profession and the society around it and the theme of this year’s Winter School and Investment Attraction Conference augments the institute’s vision,” ICAZ said in a statement.
Running parallel to the conference were Investor Roundtables, where senior government officials, financiers and promoters deliberated on consultative candid conversations around the investment landscape in Zimbabwe.
Topics on discussion at the conference this year included the state of the energy industry, corruption, licensing processes and the regulatory environment in the country, as well as the national project pipeline and funding gaps.
ICAZ is the longest established and the largest Zimbabwean professional accountancy organisation. It was set up on January 11, 1918 and is a statutory body incorporated in terms of the Chartered Accountants Act.
The institute is a member body of the International Federation of Accountants, Pan African Federation of Accountants and the Public Accountants and Auditors Board.
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