Chartered Governance and Accountancy Institute in Zimbabwe

Zimbabwe has established a statutory quality assurance (QA) review system under the Public Accountants and Auditors Act [Chapter 27:12], administered by the Public Accountants and Auditors Board (PAAB). The Chartered Governance and Accountancy Institute in Zimbabwe (CGI) does not operate the jurisdiction’s QA review system, as this responsibility rests with the PAAB. Within the scope of its mandate, CGI supports implementation by promoting awareness of audit quality, quality management, and applicable professional requirements among its members.

CGI supports members through continuing professional development, technical updates, and member communications, including activities that address International Standards on Quality Management 1 and 2 and related implementation matters. The Institute also maintains communication with the PAAB on regulatory developments and encourages members to comply with practice review requirements and address review findings where relevant.

CGI is the professional home for governance and accountancy professionals in Zimbabwe and its members may be eligible for registration with the PAAB as public accountants through the Institute, reinforcing its role in supporting professional quality within the statutory framework.

Within the scope of its authority, CGI has demonstrated sustained support for the jurisdiction’s QA framework through member education, awareness, and engagement with the regulator.

CGI is encouraged to continue engaging with the PAAB on audit quality monitoring outcomes and to provide targeted member support on recurring quality review findings and implementation of quality management requirements.

Current Status: Sustain

The Public Accountants and Auditors Board (PAAB) oversees qualification and registration requirements for professional accountants and auditors in Zimbabwe, including monitoring qualifying examinations, training, and continuing professional development offered by recognized professional accountancy organizations. The Chartered Governance and Accountancy Institute in Zimbabwe (CGI) establishes and administers education, practical experience, assessment, and continuing professional development requirements for its students and members within this framework.

CGI continues to support professional development through its qualification programs and member learning activities, including the Chartered Governance Professional Accountant, Public Sector Accounting, Digital Forensic Accounting, and Governance, Risk and Compliance programs. Recent technical publications highlight continuing professional development priorities in sustainability and environmental, social, and governance reporting, public financial management and International Public Sector Accounting Standards implementation, technology, data and artificial intelligence, governance, risk and compliance, ethics, and professional judgment.

PAAB’s 2026 sustainability reporting roadmap also confirms that professional accountancy organizations are expected to provide education and continuing professional development to equip preparers and auditors with skills to apply sustainability reporting requirements and to embed sustainability reporting and assurance into educational curricula.

Within the scope of its authority, CGI has established and continues to implement structured initial professional development and continuing professional development requirements. However, full documented alignment of its education framework with the currently effective International Education Standards, including a comprehensive mapping of learning outcomes, practical experience, assessment, continuing professional development, and emerging competencies, has not been demonstrated.

CGI should complete and document a formal self-assessment of its initial professional development and continuing professional development framework against the current International Education Standards, including sustainability, technology, professional skepticism, and ethics competencies, and use the results to close any identified gaps.

Current Status: Execute

International Standards on Auditing (ISA) are adopted in Zimbabwe for application in mandatory audits. The Public Accountants and Auditors Board (PAAB) is the national standard setter responsible for endorsing and adopting international standards on auditing for prescription under section 44(2)(a) of the Public Accountants and Auditors Act [Chapter 27:12]. The Chartered Governance and Accountancy Institute in Zimbabwe (CGI) has no direct authority to adopt auditing standards but supports implementation through member education and technical engagement.

CGI promotes awareness of new and revised auditing and assurance pronouncements through continuing professional development, technical publications, and member communications. Recent CGI technical publications highlight developments in assurance, sustainability assurance, environmental, social, and governance reporting, and the implications of International Standard on Sustainability Assurance 5000 for Zimbabwean practitioners.

PAAB continues to consult on auditing and assurance developments, including stakeholder engagement on possible adoption of the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities and sustainability assurance-related developments. CGI’s role is to support members in understanding these developments and applying prescribed standards within the Zimbabwe framework.

Within the scope of its mandate, CGI has demonstrated sustained support for implementation of ISA and related assurance pronouncements through member education, awareness, and engagement with national regulatory developments.

CGI is encouraged to continue providing targeted technical support on new and revised auditing and assurance standards, including implementation implications arising from PAAB consultations and sustainability assurance developments.

Current Status: Sustain

The International Code of Ethics for Professional Accountants (including International Independence Standards) is adopted in Zimbabwe under the regulatory framework overseen by the Public Accountants and Auditors Board (PAAB). The Chartered Governance and Accountancy Institute in Zimbabwe (CGI) does not have authority to adopt ethical standards at the jurisdiction level but is responsible for promoting and enforcing ethical conduct among its members.

CGI requires members to comply with its Code of Ethics and reinforces professional conduct through membership obligations, continuing professional development, technical publications, and disciplinary arrangements. Recent CGI publications continue to emphasize ethics, professional judgment, public trust, governance, sustainability, and technology-related professional responsibilities.

CGI also supports enforcement of ethical requirements through investigation and disciplinary procedures for its members, complementing the statutory oversight role of the PAAB. Through education, awareness, and enforcement mechanisms, CGI demonstrates sustained support for implementation of the Code and high standards of professional conduct.

CGI is encouraged to continue providing targeted ethics support on emerging areas, including sustainability reporting, technology, independence, and professional judgment, and to keep members informed of updates to the Code.

Current Status: Sustain

Public sector accounting standards in Zimbabwe are established under the Public Finance Management framework and implementation responsibility rests with the Ministry of Finance, Economic Development and Investment Promotion. The Chartered Governance and Accountancy Institute in Zimbabwe (CGI) does not have authority to adopt International Public Sector Accounting Standards at the jurisdiction level. Within the scope of its mandate, CGI supports awareness and implementation of public sector financial reporting developments among its members.

CGI continues to support members through continuing professional development, technical publications, and professional programs related to public sector accounting, governance, and financial management. Recent CGI publications and learning activities have addressed International Public Sector Accounting Standards implementation, public financial management reforms, sustainability reporting, governance, and accountability matters relevant to public sector professionals.

Zimbabwe’s ongoing transition toward accrual-based International Public Sector Accounting Standards and broader public financial management reforms have increased the importance of professional support and capacity building for preparers and practitioners operating in the public sector. CGI contributes to these efforts through awareness raising and professional development activities for its members.

Given the Institute’s limited direct authority in this area and its ongoing support for member awareness, education, and implementation-related activities, CGI has demonstrated sustained fulfillment of its responsibilities under SMO 5.

CGI is encouraged to continue supporting public sector members through targeted training and awareness activities related to International Public Sector Accounting Standards implementation and public financial management reforms.

Current Status: Sustain

The Public Accountants and Auditors Act [Chapter 27:12] establishes the investigation and discipline framework for registered professional accountants and auditors in Zimbabwe. The Public Accountants and Auditors Board (PAAB) is responsible for defining and enforcing ethical practice and discipline among registered persons, while recognized constituent bodies are responsible, in the first instance, for the professional conduct of their members.

Within this framework, the Chartered Governance and Accountancy Institute in Zimbabwe (CGI) maintains investigation and disciplinary procedures for its members. CGI’s system includes processes for receiving complaints, investigation, disciplinary decision-making, sanctions, and appeal, and supports enforcement of ethical and professional requirements. Serious matters may be escalated or reviewed through the PAAB framework where statutory registration or appeals are involved.

CGI has demonstrated that it operates an I&D system and supports compliance with professional and ethical standards. However, publicly available information remains limited on the extent to which the system fully aligns with all SMO 6 requirements, including transparency of disciplinary outcomes, independent review of complaints not pursued, and periodic public reporting.

CGI should complete and document a formal self-assessment of its I&D system against the current SMO 6 benchmark and strengthen transparency by publishing clear complaints procedures and appropriate summaries of disciplinary outcomes, subject to legal and confidentiality requirements.

Current Status: Execute

IFRS Accounting Standards are adopted in Zimbabwe and prescribed by the Public Accountants and Auditors Board (PAAB) for application by publicly accountable entities. The Chartered Governance and Accountancy Institute in Zimbabwe (CGI) does not have authority to adopt accounting standards at the jurisdiction level but supports implementation through member education, technical updates, and professional development activities.

CGI promotes awareness of new and amended IFRS Accounting Standards and related financial reporting developments through continuing professional development, technical publications, and member communications. Recent CGI technical publications also address sustainability reporting, environmental, social and governance developments, and the implications of IFRS Sustainability Disclosure Standards for Zimbabwean preparers and professionals.

PAAB has undertaken recent sustainability reporting developments, including consultation on IFRS S1 and IFRS S2 and publication of a draft roadmap for adoption of IFRS Sustainability Disclosure Standards in Zimbabwe. This increases the need for continued member education and implementation support by professional accountancy organizations.

Within the scope of its mandate, CGI has demonstrated sustained support for implementation of IFRS Accounting Standards and emerging sustainability reporting requirements through member education, awareness, and engagement with national developments.

CGI is encouraged to continue providing targeted member support on new and amended IFRS Accounting Standards and IFRS Sustainability Disclosure Standards, including practical implementation guidance as PAAB’s sustainability reporting roadmap progresses.

Current Status: Sustain