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.

2. Is CPD mandatory?

• Yes, CPD is a mandatory requirement for all Professional Accountants.

3. 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)

4. What are the consequences of CPD non-compliance

• Various sanctions depending on perpetually

5. How long should I wait for membership application confirmation?

• Within three months, if all documents are submitted

6. Where can the application form be submitted?

• ICAM offices, Stansfield House, Haile Selassie Road, P.o Box 1, Blantyre

7. 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

8. What are the consequences if the annual membership fee is not paid within the stipulated time?

• Penalties
• Withdrawal of membership

9. What is the relationship between ICAM and MAB?

• ICAM is a professional body while MAB is a regulator. Accountants register with MAB through ICAM