By ANDREW MUKOMATHE Zambia Institute of Chartered Accountants (ZICA) has commended the Zambia Revenue Authority (ZRA) for being the first Zambian public sector organization to implement the International Public Sector Accounting Standards (IPSAS) which the country is earmarked to migrate to by 2024.IPSAS are a set of accounting standards issued by the IPSAS Board for use by public sector entities around the world in the preparation of financial statements.ZiCA President Cecilia Zimba said that as of 2019, the ZRA had already started implementing the accrual IPSAS project.She was speaking during the opening of a two-day training workshop on IPSAS for accountants from the public sector held at Chrismar Hotel in Livingstone yesterday.Ms Zimba said that Government with the help of ZiCA plans to move to accrual based IPSAS by the year 2024.“As you may be aware, the Institute issued an accounting notice to give guidance on the applicability of the accrual basis International Public Sector […]
ZRA scores a first in accounting standards
