HARARE - The Institute of Chartered Accountants of Zimbabwe (Icaz) says 128 out of 153 students who sat for its Initial Test of Competence (ITC) — formerly Qualification Examination Part1 (QE1) — passed the examination.
This represents a pass rate of 83.7 percent compared to 71.1 percent last year.
Matts Kunaka, Icaz’s chief executive, applauded the successful candidates for their efforts and hardworking spirit.
“Our students raised the bar and subsequently this augments our prime objective as the oldest body of professional accountants in the country to administer the training of Chartered Accountants,” he said.
Kunaka added that this year’s pass rate is impressive and an all-time record.
He encouraged the students to maintain the same spirit as they now prepare to write their final examinations in November 2014.
The successful students will now proceed, after completing their specialised courses in either auditing and financial management, to write later in the year either the Public Practice Examination (PPE) or Financial Management qualifying examination part two (QE2).
These examinations constitute the second and last part of the qualifying examinations.
In order to qualify as a chartered accountant, besides studying for the examinations, students have to do three or five years practical training (articles) with an Icaz accredited training office.
