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Business Reporter

The Institute of Chartered Secretaries and Administrators in Zimbabwe has introduced an affiliate scheme for corporate governance professionals who carry out company secretarial, risk, compliance, accounting and administration related work but do not hold the ICSA qualification. ICSAZ chief executive Farai Musamba said the scheme is designed to provide support structures for people engaged in corporate governance, administration and accounting-related duties who need professional support, but are not chartered secretaries.

“It will provide a professional home for those who are currently involved in the professional sector covered by the Institute,” he said.

He added that this professional support should help the affiliates perform better in their roles.

“This is in line with ICSAZ’s mission to promote and advance efficient administration in commerce, industry and the public sector,” he said.

Dr Musamba explained that participation in the scheme would not accord the affiliates ICSAZ membership.

It would not allow them to use the post nominal ACIS or FCIS nor would it give them chartered secretary status. However, the affiliates would be allowed to describe themselves as Affiliates of ICSAZ.

He said the initiative to introduce the scheme was taken after noticing the high number of people operating in corporate governance related work who wished to be associated with a professional body.

A number of these professionals had approached the institute with proposals for an affiliate scheme. However these proposals could not be effected previously due to constitutional issues.

“These constitutional issues were recently addressed through the gazetting of the new chartered secretaries by-laws,” he said.

Anyone carrying out company secretarial work, accounting or other governance, risk and compliance roles or allied work to the satisfaction of the ICSAZ council can become an affiliate of ICSAZ.

“Other people who can qualify for the scheme include those who have been appointed by companies as secretaries pursuant to Section 173A of the Companies Act,” he said.

Members of other constituent bodies forming the Public Accountants and Auditors Board (PAAB) who are practising as company secretaries or governance and compliance professionals are also eligible.

Those who studied but did not complete the ICSA programme and lawyers who are working as company secretaries but are not chartered secretaries also qualify to become affiliates.

Among the benefits of being an affiliate of ICSAZ is being part of a professional community of chartered secretaries for networking and professional development, Dr Musamba said.

“Affiliates will also enjoy member rates on Continuous Professional Development (CPD) training courses, seminars and conferences and will receive professional guidance notes such as the Company Secretary Toolkit.

“They will also receive quarterly issues of The Chartered Secretary magazine with the latest developments in the profession free of charge and will have access to member-only technical advice and updates through TechMail, a quarterly newsletter,” he said.

ICSAZ is a division of the global United Kingdom-based Institute of Chartered Secretaries and Administrators with a mandate to promote good corporate governance and compliance through the efficient administration of commerce, industry and the public sector.

The ICSA qualification is an all-round business qualification which enables one to be employed in various capacities that include accounting, finance, administration, general management, tax, information technology and human resources.

ICSAZ members serve in senior positions in many leading organisations and service providers in both the private and public sectors.