FREQUENTLY ASKED QUESTIONS (FAQ's)
- 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.
- Is CPD mandatory?
- Yes, CPD is a mandatory requirement for all Professional Accountants.
- 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)
- What are the consequences of CPD non-compliance
- Various sanctions depending on perpetually
- How long should I wait for membership application confirmation?
- Within three months, if all documents are submitted
- Where can the application form be submitted?
- ICAM offices, Stansfield House, Haile Selassie Road, P.o Box 1, Blantyre
- 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
- What are the consequences if the annual membership fee is not paid within the stipulated time?
- Penalties
- Withdrawal of membership
- What is the relationship between ICAM and MAB?
- ICAM is a professional body while MAB is a regulator. Accountants register with MAB through ICAM