FREQUENTLY ASKED QUESTIONS (FAQ's)

  1. Why do I need to undertake continuing professional development (CPD)
  • CPD is a means of attaining knowledge.
  • CPD contributes to the development and maintenance of Professional  competence related to accountants work & their responsibilities.
  1. Is CPD mandatory?
  • Yes, CPD is a mandatory requirement for all Professional Accountants.
  1. How many CPD hours am I required to achieve in a year
  •  Practicing – 50 CPD hours (35 of which should be verified and structured)
  • NPR- 40 CPD hours (30 of which should be verified and structured)
  1. What are the consequences of CPD non-compliance
  • Various sanctions depending on perpetually
  1. How long should I wait for membership application confirmation?
  • Within three months, if all documents are submitted
  1. Where can the application form be submitted?
  • ICAM offices, Stansfield House, Haile Selassie Road, P.o Box 1, Blantyre
  1. What documentation will I need to submit in order to be admitted as a member of the ICAM?
  • One passport size photograph
  • Certified copies of professional certificates
  • Curriculum vitae
  • Reference letter from employer
  • Subscription fees applicable in that year
  1. What are the consequences if the annual membership fee is not paid within the stipulated time?
  • Penalties
  • Withdrawal of membership
  1. What is the relationship between ICAM and MAB?
  • ICAM is a professional body while MAB is a regulator. Accountants register with MAB through ICAM