ZI

Zambia Institute of Chartered Accountants (ZICA)

Practice Review Officer – Large and Medium Firms

Closes in 8 daysLusaka
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Required skills

staff trainingcompliance reviewsmicrosoft officetechnical guidanceobservation skillsadvisory servicesstakeholder engagementquality controlreport writingethical guidelinesaccountingauditing standardsprofessional scepticismanalytical and strategic thinking

About the role

The Zambia Institute of Chartered Accountants (ZICA) is a self-regulated membership body, established under the Accountants Act of 1982 and, as amended in the Accountants Act of 2008, has the primary mandate of regulating and promoting the accountancy profession in Zambia. The Vision of ZICA is “A reputable leader in developing competent and ethical finance professionals”. Its Mission is “To regulate and promote excellence in the accountancy profession, championing the highest standards in education and ethics, shaping a future where professionals contribute significantly to Zambia’s economic prosperity and global standing”. The Core Values of the Institute are: “Integrity, Professionalism, Customer Centricity, Accountability, Excellence, Innovation”

The Institute would like to recruit an outstanding, results-oriented, self-motivated, versatile, and professional individual of high personal integrity with appropriate academic and professional qualifications and experience.

POSITION: PRACTICE REVIEW OFFICER- LARGE AND MEDIUM FIRMS – ZICA04

PURPOSE OF THE JOB

To ensure audit firms and professional accountants comply with the auditing standards and ethical guidelines as established by ZICA and other regulatory bodies.

REPORTING STRUCTURE

The position shall report to the Practice Review Manager – Large and Medium Firms.

KEY RESPONSIBILITIES

  • Practice Review
    • Conducting practice reviews of audit firms to ensure compliance with International Standards on Auditing (ISA) and ethical guidelines.
    • Evaluating the quality of audit engagements, including documentation, processes, and outcomes, ensuring adherence to regulatory requirements.
    • Preparing detailed reports of findings, highlighting areas of non-compliance and recommending corrective actions.
  • Monitoring Ethical Compliance
    • Assessing compliance with ethical standards, including independence, confidentiality, and professional conduct, as outlined by the ZICA Code of Ethics.
    • Investigating breaches of ethical standards and initiate appropriate action where necessary.
    • Providing guidance to practitioners on maintaining ethical standards and addressing potential conflicts of interest.
  • Audit Firm Support and Guidance
    • Offering advisory services to audit firms on best practices in audit quality control and ethical standards.
    • Providing technical guidance to practitioners on improving audit methodologies, tools, and documentation.
    • Organizing workshops and training sessions to promote understanding of ethical guidelines and audit standards.
  • Regulatory reporting and Documentation
    • Preparing reports on practice reviews for submission to the Practice Review Manager and regulatory bodies.
    • Maintaining accurate and up-to-date records of all compliance reviews, findings, and follow-up actions.
    • Reporting cases of severe non-compliance or ethical breaches to senior management, recommending further investigation or disciplinary action.
  • Stakeholder Engagement
    • Acting as a liaison between ZICA and audit firms, ensuring effective communication regarding regulatory updates and compliance requirements.
    • Collaborating with legal and regulatory bodies to ensure the profession adheres to both local and international standards.
    • Representing ZICA at relevant industry forums, conferences, and workshops on audit and ethical compliance.

QUALIFICATIONS AND OTHER SKILLS

  • Grade 12 School Certificate or its equivalent with five (5) O level credits or better, including English and Mathematics.
  • Bachelor’s degree in accountancy and CA Zambia/ ACCA / CIMA.
  • Minimum of 4 years of work experience in external audit work with exposure in audit compliance reviews/Auditor General’s office.
  • Must be at least an Associate Member of the Zambia Institute of Chartered Accountants (ZICA).

Key Competences

  • In-depth understanding of the ethical principles governing the profession, including independence, integrity, objectivity, confidentiality, and professional behaviour.
  • In-depth understanding of accounting and auditing standards.
  • Analytical and investigative skills.
  • Attention to detail.
  • Report writing.
  • Professional Scepticism.
  • Ability to interpret complex accounting standards and provide practical guidance on their application.
  • Ability to maintain composure under pressure, ensuring that reviews are conducted thoroughly and accurately despite time constraints.
  • Computer literate, conversant with Microsoft Office and accounting packages.