SYLLABI – PART A by yaohongm


                          IN ZIMBABWE



There are Chartered Secretaries employed in all types of organizations: large and small, public and private sectors,
from primary producer to the new wave of service industries. Whichever route a Chartered Secretary takes to the
top, whether by Corporate Management or by pursuing the role of Company Secretary, Public Accountant or by
rendering Consultative Services, a Chartered Secretary is equipped to handle functions in the following areas:-

The Chartered Secretary is the person who has a sound knowledge of Financial Management; Information
Technology, People and Resource Management. He or she is capable of holding varied senior management posts in a
company. This involves analyzing the status of the business and its environment and ensuring that it is properly
equipped to compete in an efficient and profitable manner.

The traditional role of the Chartered Secretary is that of Secretary of a Limited Liability Company, an appointment
recognized by statute in the Companies Act. It is a role of ever increasing importance due to the responsibilities of
corporate governance. It is the Chartered Secretary’s responsibility to ensure that the company is legally constituted,
economically viable and properly organized.

Chartered Secretaries can choose between working in a company or private practice offering a consultative service to
businesses in terms of planning, organising, controlling and submitting financial returns at year-end.

The Public Accountants and Auditors Act recognizes Chartered Secretaries for registration as Public Accountants

Managing the day-to-day finances of the company
Preparing financial statements
Planning and implementing accounting systems
Providing financial information for management decisions
Reporting on cash flows and capital expenditure
Instigation of profit improvement programmes
Monitoring performance ratios
Reporting on all other corporate financial affairs.

General taxation planning
Designing methods of legal tax avoidance
Manpower and Succession Planning
Interpreting tax legislation
Calculating the impact of tax legislation

Ensuring that the company remains legally constituted
Ensuring that the company complies with minimum legal requirements
Protecting the company’s interests in contracts, lease and other commercial exchanges
Guiding the company through the complexities of mergers, acquisitions, formations and liquidations

Planning sources of finance
Budgeting cash flow and capital expenditure
Negotiating with financial institutions
Assisting in asset-purchase decisions
Planning mergers and acquisitions
Assisting marketing in costing and pricing
Raising capital and loans

Structuring and streamlining company procedures and methods for efficiency
Ensuring that legal requirements are met
Ensuring that general administration functions effectively
Keeping legal and marketing records
Developing systems and procedures

Installing electronic information processing
Implementing management reporting systems
Devising financial and strategic models
Selecting computer equipment
Designing and implementing systems

Corporate Planning
Strategic Planning
Long-term forecasting
Economic trend analysis
Feasibility studies
Resource allocation
Financial planning for new projects or diversification
Scenario planning

Labour Legislation
Remuneration Packages and Systems
Manpower and Succession Planning


Application for membership should be made immediately on completion of the examinations to maintain contact with
the Institute and to qualify to use the designatory letters ACIS or FCIS. (It is a criminal offence to use the
designatory letters if the person is not a member).

There are two grades of membership – the Associate, designated by the initials ACIS and the Fellow, designated by
the initials FCIS.


Associateship is the first level of membership. People are eligible for election by Council if they have:
    a) completed all the examinations successfully
    b) attained at least 21 years’ of age
    c) had qualifying service with an organization. This requirement is one of practical experience and is as
         fundamental a requirement for membership as is the completion of the examinations. The normal period of
         service required is six years.
    d) provided evidence of employment details and evidence of personal good character in the form prescribed by
         the Institute.

Fellowship is the senior grade of membership. People are eligible for election by the Council if they:

    i.   have attained at least 25 years’ of age
   ii.   have eight years’ qualifying service.
  iii.   hold (and have held for at least three years) an administrative or executive post of a status equal to that of
         a secretary (whether or not called by that title) in a substantial organization.
  iv.    have been Associate members for a period of at least two years (requirement may be reduced at the
         discretion of Council).

Graduates of the Institute are persons who have completed the examinations successfully but have not completed the
required period of qualifying service. A Graduate cannot describe himself or herself as a Chartered Secretary, but
may use the designated letters GRAD. ICSA. He or she can enjoy all the practical advantages of membership
excluding the right to vote.


The Institute’s Annual General Meeting is held during March or April. The Annual Conference for members usually
takes place during September or October. The Winter School for students is held in the middle of the year.
Continuous Professional Development Seminars are organized regularly.


The Institute has branches of members and students, wherever there is a sufficiently large number to warrant the
establishment of a formal group for social and educational purposes and for keeping a watch on the local Institute’s
affairs. Regular functions include monthly lunch meetings and Student Society lectures.




The Institute of Chartered Secretaries and Administrators requires members to observe the highest
standards of professional conduct and ethical behaviour in all their activities.

By maintaining these standards, members enhance their reputation as corporate managers and increase
confidence in the management and administration of private and public sector organizations. As the
conduct of an individual member can reflect upon the wider profession of corporate management and the
Institute’s membership as a whole, the code sets out what are deemed to be appropriate standards of
professional conduct.

Members are required to uphold the Institute’s Charter and comply with the Bye-laws.


   1. The Chartered Secretaries (Private) Act 1971 requires the observance of rules of conduct as a
      condition of membership and render a member liable to disciplinary action if found guilty of
      misconduct, which includes but is not confined to, any act or default likely to bring discredit to the
      member, Institute or profession.

   2. Members are required to exercise integrity, honesty, diligence and due care in carrying out their
      duties and responsibilities. They shall conduct themselves with courtesy and consideration
      towards all with whom they come into contact in the course of their professional work.

   3. Members shall at all times be cognizant of their responsibilities as professional persons towards
      the wider community.

   4. Members shall at all times safeguard the interests of their employers, colleagues and clients and
      shall not knowingly be a party to any illegal or unethical activity.

   5. Members shall not enter into any agreement or undertake any activity which may be in conflict
      with the legitimate interests of their employer or client or which would prejudice the performance
      of their professional duties.

   6. Members shall ensure that their knowledge, skills and technical competence in relation to their
      professional activities remain up to date.

   7. Members shall refrain from conduct or action which detracts from the reputation of the Institute.

   8. In accepting or continuing a professional assignment a member should always have regard to any
      factors which might reflect adversely upon his integrity and objectivity in relation to that

   9. Members shall not use any confidential information gained in the performance of their duties for
      any personal gain nor in a manner which would be detrimental to their employer or client.

1.1   Professional independence is a concept fundamental to a member in public practice. It is
      essentially an attitude of mind characterized by integrity and an objective approach to
      professional work.

1.2   A member in public practice shall be and be seen to be, free in each professional assignment he
      or she undertakes of any interest which might detract from objectivity.

1.3   It is the duty of a practitioner to present or report on information objectively. That duty is the
      essence of professionalism and is appropriate to all members in public practice.

1.4   Personal relationships can affect objectivity. There is a particular need to ensure that an
      objective approach to any assignment is not endangered as a consequence of any personal

1.5   Where financial involvement with a client may affect objectivity the member shall seriously
      consider his or her position.

1.6   Where advice given to a client is such that, if acted upon, it will result in commission being
      earned by the practice or anyone in it, special care shall be taken that the advice is in fact in the
      best interests of the client.

2.1   Information acquired in the course of professional work shall not be disclosed except where
      consent has been obtained from the client or where there is a public duty or there is a legal or
      professional right or duty to disclose.

2.2   A member acquiring information in the course of professional work shall neither use nor appear to
      use that information for his or her personal advantage or for the advantage of a third party.

3.1   A member shall not obtain or seek work for his or her, or another member’s practice in an
      unprofessional manner.

3.2   A member may seek publicity for his or her services and achievements and may advertise his or
      her services, but in so doing shall have regard to the standards set by the Institute.

3.3   In addition to meeting the requirements of the standards, a member shall ensure that his or her
      promotional material is in good taste both as to content and presentation, and that it does not
      belittle the services offered by others, whether members or not either by claiming superiority for
      the services of a particular member or otherwise.

4.1   It is recommended that practitioners shall use their designatory letters at all times and they may
      describe themselves personally as Chartered Secretaries.

4.2   A practising firm’s name should be consistent with the dignity of the profession.

4.3   A practising firm’s name should not be misleading as, for example, by leading to confusion with
      that of another firm. It is the custom of the profession for members of a firm to practise under a
      firm’s name based upon the names of past or present partners in the firm itself or in a firm with
      which it has merged or amalgamated, but it is not obligatory.

4.4   At least one person named on the letterhead of a firm must be a member of the Institute
      otherwise the firm may not describe itself on its letterhead or elsewhere as “Chartered

5.      FEES

5.1     A practitioner is entitled to charge for his or her services such fees as he or she may consider
        appropriate in connection with the work that he or she undertakes.

5.2     The fact that one practitioner may charge a lower fee than another for undertaking the same or
        similar work is not improper provided care is taken to ensure that the client is not misled:

5.2.1   as to the precise range of services that a quoted fee is intended to cover (in which connection the
        practitioner should provide the client with an engagement letter)

5.2.2   as to the likely level of future fees for any work undertaken for the client.

5.3     Fees should not be charged on a percentage or similar basis, save where that course is
        authorized by statute or is generally accepted practice for certain specialist work; nor shall
        instructions be accepted on a contingency fee basis save in the circumstances set out in sub-
        clause 5.4 below.

5.4     In certain limited circumstances fees cannot realistically be charged save on a contingency fee
        basis; to require otherwise would be to deprive potential clients of professional assistance, the
        capacity of the clients to pay being dependent upon the success or failure of the venture.


        A practitioner is strictly accountable for all clients’ monies received by him or her and these shall
        be deposited without delay into a separate bank account. Such monies shall be kept from all
        other monies and be applied only for the purposes of the client.


1.      The Institute as a matter of policy will not normally require its Disciplinary Committee to consider
        investigation into and possible application of sanctions against a member in respect of
        advertisements for business of a nature ordinarily undertaken by a Chartered Secretary in public
        practice, whether the advertisement is published by:-

        1.1     a member on his or her own account;

        1.2     a firm of which a member is a partner;

        1.3     a company or private business corporation in which a member has a controlling interest:

        Provided that:

        1.3.1   No advertisement, circular or other form of publicity used may claim for the individual, or
                his or her firm or his or her company, superiority in any respect over any or all other
                persons either as individuals or practices.

        1.3.2   Such publicity must be factual and may not contain any inaccuracies.

        1.3.3   While advertisements, circulars and other publicity may make clear the intention of the
                member of his or her firm to seek custom, they should not be of a character that could
                reasonably be regarded in the opinion of Council as likely to bring the profession of the
                Institute into disrepute.

        1.3.4   Such advertisements may not only draw attention to the existence of the practice but
                may describe the nature of the practice with allusions to particular classes of clients to
                whom services are offered, or of particular kinds of service to be offered, provided that

        1.3.5    services in a specific professional capacity may only be advertised by the member who
                has had at least five years’ relevant experience in the specific professional discipline.

        1.3.6   In order to prevent the escalation of competitive advertising any advertisement placed in
                directories or national or local press shall be in the typeface or format which is most
                commonly found in the publication concerned.

2.      Articles, letters or other contributions to journals or newspapers may contain the writer’s name,
        and designatory letters should especially be used if the subject matter is reputable and relevant
        to profession of the Chartered Secretary.

3.      Similarly a member appearing on a radio or television programme or speaking at a course or
        conference should encourage his professional designation to be used especially if the subject is
        relevant to the profession of the Chartered Secretary.

4.      It is expected that members will exercise discretion and good taste in the preparation and use of
        all publicity material.

5.      No member may in any contribution to journals, newspapers or in any appearance or interview on
        radio or television claim to speak on behalf of the Institute unless prior and specific authority has
        been given on each occasion. Provided that this should not apply to the President or Chief
        Executive of the Institute or their authorized representative.

6.      Council reserves the right at its discretion to take appropriate steps, including the termination of
        membership, against any member contravening the code of practice.


In addition to the Institute code set out above it is proposed that professional conduct By-laws will be
made in terms of the Public Accountants and Auditors Act. All Registered Public Accountants will be
bound by these By-laws when they become law.


1.      Council reserves the right at its discretion to change the curriculum and study processes, rules
        and regulations during a person's studentship.

2.      Only students registered WITH THE INSTITUTE are permitted to write its examinations.

        The closing date for registration by a student registering for the first time, and wishing to write:
        a)      the May Examinations – 31 January.

        b)      the November Examinations – 31 July.

        Application forms for registration, or re-registration, are obtainable from the office in Harare. The
        appropriate fee must accompany the relevant application.

        All students are required to re-register annually on 1 January.       Students must register by 31
        January if they intend to write examinations in May.

3.      Every applicant for registration must produce evidence of having passed an examination entitling
        the applicant to entrance to a University in his or her country of residence or be the holder of
        some other educational qualification acceptable to the Institute.

4.      Applicants must be at least 16 years of age.

5.      The application forms must indicate that at the time of application, the applicant is engaged in
        the office of a company or other public authority or body or society or institution; or that he or
        she is undergoing a course of systematic instruction approved by the Institute; or that if at the
        time of application he or she cannot fulfill either of these requirements, he or she is
        contemplating a career as a Chartered Secretary and is fully aware that success in the
        examinations of the Institute does not entitle him or her to membership unless he or she also has
        the necessary qualifying services and character reference.

6.      The application forms must bear the recommendation of a member of the Institute or an
        approved official of the applicant’s company or educational institution certifying, from personal
        knowledge, that he or she is a fit and proper person for admission to the examinations of the

7.      Registration confers no rank of membership and no voting rights except with Student Societies of
        which students are automatically members.

8.      It must be noted that no duplicate receipt can be issued for any payments made. Students are
        advised to keep their receipts safely.

9.      Every student is expected to attend at least two conferences in the mould of the Winter School.
        The first should be attended during Part A and B and the second during Part C and D. The
        Institute reserves the right to stop a student from attempting Part C and D subjects before one
        has fulfilled the conference attendance.


An annual re-registration fee is payable by all students at any time after 1 December the previous year
but before 31st January in the current year. Late re-registration will be accepted from students who do
not re-register before 31st January but who do so before 31 July on payment of the full fee plus penalty
It is in the student’s interest to remain on the student roll by promptly re-registering each year before 31st
January. Students who wish to write the November examinations must re-register by 31 July. Students
who do not re-register in any one year will be charged a penalty determined by the Institute when they
come to re-register.

An entrance fee is charged for all initial registrations. This entrance fee is non-refundable should the
registration be refused and is in addition to the registration fee.


The entrance qualifications are as follows:

Every applicant for registration as a student must submit acceptable evidence that he or she has obtained
an approved educational qualification.


The minimum entrance qualifications are as follows:

        Five subjects at GCE ‘O’ level (Grade C or better) plus, two subjects passed at GCE ‘A’ level

        a)      The subjects must be of an academic or commercial nature (which would exclude Bible
                Knowledge and Arts and Crafts subjects).
        b)      The subjects must include English Language (English Literature is not acceptable and not
                counted as a separate subject) and either Mathematics or Accounting.

B)      In addition to the five Ordinary level subjects the following educational certificates will be
        accepted for purposes of registration:

(1)     A degree or approved diploma of a recognised university in Zimbabwe, Botswana, Lesotho,
        Swaziland or the Republic of South Africa; the British Commonwealth or the Republic of Ireland;
        or a degree of the Council for National Academic Awards in the United Kingdom.
(2)     A matriculation or matriculation exemption certificate.
(3)     The diploma of a recognised professional body.
(4)     Certain National Diplomas or Certificates in Business Studies in Zimbabwe, the United Kingdom or
        South Africa.
(5)     The diploma of the Institute of Bankers.
(6)     The certificate of the Institute of Administration and Commerce
(7)     IBAS Intermediate Diploma – five subjects


        The Institute may at its discretion approve an application from a student who has not fully
        satisfied the normal registration requirements set out above.

        For consideration under this clause applicants must be at least 25 years of age and must have
        satisfied a substantial part of the normal education requirements, i.e. have passed five subjects at
        GCE ‘O’ level and have had three years commercial experience. The five subjects must include
        English Language passed with A, B or C symbols and one of either Mathematics or Accountancy
        passes with A, B or C symbols. The remaining subjects must be of an academic or commercial
        nature and have been passed with A, B, or C symbols.


It is the Institute’s policy that exemptions will be granted on application generally on a subject for subject
basis to holders of degrees from certain universities or diplomas from other examining bodies. The
granting of exemptions remains entirely at the Institute’s discretion.

To be eligible to claim exemptions the other qualification must have been passed in full. (No partial
qualification will be considered).


The Institute examinations are held in May and November of each year.
Applications to enter for the examinations must be made on the prescribed forms, which are obtainable
from the office in Harare.

Students’ entry forms for the May examination must reach the Harare Office on or before
28 February and for the November examination on or before 31 August.

The forms must be accompanied by the correct examination fee for each subject to be written. Entry
forms with insufficient fees will be returned.


Examination entries will not be postponed except as stated below:

Refund of Examination Fees

Examination fees are not normally refundable, but consideration will be given to applicants for refunds on
medical grounds only at the discretion of the Institute.
a)      A certificate from the doctor is required, stating the nature and duration of the illness of the
        student. A covering letter and doctor’s certificate must reach the office not later than the end of
        the month in which the examination is held (i.e. by the end of May and the end of November).

b)      Notification of postponement will not be accepted by telephone, telegram, or fax.

c)      In all other cases the examination fee will be forfeited if the candidate does not write.

d)      Refunds of examination fees or postponement of examinations will be considered if the candidate
        withdraws the entry prior to the examination entry cut of date.


It is important that students read and understand examination rules and regulations as they are strictly
enforced. Any variation of the rules is entirely at the Institute’s discretion. In respect of 1 and 2 below,
exemptions should have been obtained before a student registers for the examinations.

The 4 parts of the examination are progressive in their complexity. Therefore earlier stages must be
       completed first. Parts A and B must be completed before attempting Parts C and D respectively.

        Any Examination Entry for any subject at Part C (professional programme I) will be rejected
        unless the student has passed or been exempted from all the subjects at Part A.

        Any Examination Entry for any subject at Part D (Professional Programme II) will be rejected
        unless the student has passed or been exempted from all the subjects at Part A and Part B.

Examination Registration
       Candidates will not be allowed to register for a subject at a higher level before they have passed
       a similar subject at a lower level. For example: Introduction to Accounting must be passed before
       registration for Financial Accounting is considered.

Any number of examination subjects may be attempted at any one sitting as long as rules 1 and 2, above
       are complied with. Students studying part time are advised to take no more than four subjects in
       a year.

No student will be allowed to write less than two subjects in one setting unless the subject is:

        a)      The final subject at Part A, having passed or been exempted from all the other subjects
                at Part A and B.

        b)      The final subject at Part B, having passed or been exempted from all the other subjects
                at Parts A, B and C.

        c)      The final subject required to complete examinations.

Students will be expected to complete the programme of study within a period of ten years from the
       date of first registration. Extension may only be allowed in individual cases in circumstances
       approved by the Institute.

Failure to complete the examinations within the given period will result in Studentship being withdrawn.

Subjects to be taken must be accommodated within the examination time table. If candidates enter for
        subjects that clash on the timetable, they may only write one paper and forfeit the second entry

Applications for entry to the examination must be made on the prescribed form which must be received
         by the office in Harare before the closing date. Late entries are not accepted.

Any entry form which has not been fully and properly completed will be rejected.

No change in a candidate’s entry will be accepted after the closing date.

If a candidate satisfies the examiners in any subject he or she will be credited with a pass irrespective of
        performance in any other subject attempted at the same sitting.

Examination candidates are reminded that no aids are allowed into the examination except those
       designed for Open Book Examinations. Any candidates found cheating or intending to cheat will
       have their studentship permanently cancelled.

Students who are writing examinations in subjects which involve the use of statutes will only be examined
         on the statutes applicable at least six months prior to the examination.
Cellular phones are banned from the examination hall.

Students who arrive thirty minutes after the start of the examination will not be allowed to enter the
       examination hall.

Students are only allowed to leave the examination hall after the first hour of the examination.

The Institute reserves the right to vary the examination rules as and when it is necessary.

Hats, headgear and inappropriate attire are banned from the examination hall.


The Institute runs its examinations directly. Examinations may at present be written at any one of the
following centres in Zimbabwe:
Bulawayo, Chinhoyi, Chitungwiza, Chiredzi, Gweru, Harare, Hwange, Kadoma, Kwekwe, Marondera,
Masvingo and Mutare.

Requests to change from one examination centre to another will not be considered after the closing date
for entries, unless the candidate has moved permanently a considerable distance.

Examination results will be communicated to each candidate by post and will not be given over the
telephone or by fax. Every effort is made to ensure that the results are available by 30 June in the case
of the May examinations and 31 December in the case of the November examinations.

Candidates cannot be informed of the number of marks they have obtained but in the event of failure
they will be given a symbol to indicate the approximate standard of their attempt.

The results letter will carry the following symbols:

MARK                     SYMBOL
50%                      P

38% to 49%               D
25% to 37%               E        All these are “FAIL” symbols
Less than 25%            F

Request for remark of candidate’s scripts may be considered at the discretion of the Institute; otherwise
the examiners’ decision is final.

Letters will be issued to successful candidates for all completed parts of the examinations. All finalists will
receive a letter from the Institute confirming that they have completed the examinations and listing the
subjects passed.


i) Intermediate Diploma
To obtain an intermediate Diploma a student must have been credited with the subjects in Part A and Part
B. It will be issued on application. A student must have passed at least two subjects of this Institute.

The Intermediate Diploma is only to prove progress made and does not entitle one to apply for
membership of the Institute.

ii) Professional Programme I - Diploma
    The professional Programme diploma is only to prove progress made and does not entitle one to
    apply for membership.

iii) Professional Programme II – Graduateship - Diploma
     The Graduateship Diploma proves completion of the ICSA examinations and entitles one to apply for
     membership, subject to one meeting the other conditions for membership.


A prize is available for each subject of the examinations and there are also special prizes for the top three
students in the final examination.
No award is made if a certain standard is not reached in the paper.



1.    Purpose
      The jointly administered library in Harare of the Institute of Chartered Secretaries and
      Administrators and the Zimbabwe Institute of Management is primarily a specialised resource
      centre designed to provide members and students with easily accessible, objective and accurate

2.    Library Hours
      Mondays to Fridays                                 9:00 a.m. to 4:15 p.m.
      Saturdays (March to May and September to November) 8:00 a.m. to 1:00 p.m.
      Closed on : Sundays and Public Holidays

3.    Reference Service
      Trained staff are available to respond to general, personal, telephone and correspondence

4.    Photocopying facilities
      There are no photocopying facilities at the office.

5.    Study Facilities
      The library offers limited study facilities in the library lecture room but users should note that this
      facility is not always available.

6.    Use of   Material and Facilities
      6.1      Free reading of past examination papers on sale is not permissible.
      6.2      Books cannot be loaned – they are for use in the library only.
      6.3      Users should not shelve books whether used in the main library or library reading room.
               After use, books should be placed on the circulation desk.
      6.4      Bags, satchels, personal books, large files, newspapers and other items should be left in
               the library office at the owner’s risk.
      6.5      In order to ensure maximum security of books and materials in the library, users may be
               subjected to searching.
      6.6      Users found leaving the library with materials uncleared by the library staff may be
               subject to suspension from the library for a period to be fixed by the librarian in
               consultation with the Institute Administrator or Manager –Students Services.
      6.7      Cellular phones are not allowed in the library.

7.    Library Membership
      There is a members’ and students’ library at Dzidzo House.
      Entry to the library is free to the following persons.
      7.1     Registered Students
      7.2     Graduates – (Grad.ICSA) in good standing
      7.3     Associates – (ACIS) in good standing
      7.4     Fellows – (FCIS) in good standing

Other Library Venues in Zimbabwe

Speciss College, 39/41 Jason Moyo Avenue, between 2nd and 3rd Avenues, Bulawayo
Turner Memorial Library, Civic Centre, Mutare
Gweru Memorial Library, 54-8th Street, Gweru
Masvingo Polytechnic College, Masvingo
Redcliff Municipal Library, Redcliff Civic Centre
Chinhoyi Public Library, Cnr Chegutu Road and Jongwe Street

Victoria Falls library – Victoria Falls

You will need to contact the individual library for details regarding access to the books.

Please Note:
The libraries are not equipped to provide students with their full reading requirements for their studies.
Students should obtain the essential text books and use the library facilities to supplement their study

The curriculum structure for the programme is as shown below:

Code       Subject                                              Duration Of Study in Hours
A8.2       INTRODUCTION TO ACCOUNTING                           100
A3.2       ECONOMICS                                            120
A10.2      QUANTITATIVE TECHNIQUES                              100
A4.2       BUSINESS LAW                                          90
A1.2       BUSINESS COMMUNICATION                               100


B8.2        FINANCIAL ACCOUNTING                                100
B9.2        AUDITING                                            160
B4.2        TAXATION                                            100
B7.2        HUMAN RESOURCES MANAGEMENT                          100
B6.2        INFORMATION TECHNOLOGY                              120

Code        Subject                                             Duration Of Study in Hours
C4.2        GENERAL & STRATEGIC MANAGEMENT                      180
C3.2        COST & MANAGEMENT ACCOUNTING                        180
C9.2        CORPORATE LAW & PRACTICE                            100

Code        Subject                                             Duration Of Study in Hours
D5.2        CORPORATE ADMINISTRATION                            120
D6.2        CORPORATE SECRETARYSHIP                             120
D7.2        CORPORATE GOVERNANCE                                120
D8.2        CORPORATE FINANCIAL MANAGEMENT                      120

1. AIM
        The aim of the module is:-
   1) To expose the student and to assess competency in the Quantitative Techniques which are applied
        in solving business related problems.

   2)     At the conclusion of this module the candidate should be able to.
             Understand the mathematical and statistical techniques which are useful for business
             Apply the Quantitative Techniques to solve business problems.
             Interpret statistical data for business applications.

        Evidence of assessed pre-requisite knowledge and understanding at ‘A’ Level, or those of
        equivalent qualifications which have been approved as meeting the Institute’s requirements must
        be demonstrated.

   Defining statistics, and its use in business.
   Collection and presentation of numerical information:
   Questionnaires, interviews, tabulation analysis and interpretations.
   Data Description
        Graphical displays, bar graphs (multiple, component), pie charts, pictograms, line graphs, lorenze
        curves, stem and leaf diagrams, pictorial presentations, moving totals and averages.
        Measures of Centrality – mean, medium, weighted mean, mode
        Measures of Spread – for grouped and ungrouped data – variance, standard deviation, range
        quartiles, percentiles, interquartile range, box and wisker plot.
        Frequency Distributions – histograms, polygon, ogives, skewness
        The elimination of common errors. Approximations and their limitations.

Business Calculations:
   Use of annuity tables, sinking fund schedules, simple and compound interest, elementary insurance

Correlation and regression analysis:
   Correlation coefficient, scattergraphs, cross tabulation tables, simple linear regression, multiple
   correlation coefficient. Regression analysis. Interpretation of parameters.

   A basic introduction to probability from a practical viewpoint. Equally likely outcomes, combinations
   of events, union of events, conditional probability, mutually exclusive events, venn diagrams,
   probability trees, conditional probability, normal distribution.
   Binomial distribution, Poison distribution and proportions, Testing a hypothesis for small and large
   samples and confidence intervals, types of errors, power of test.

   Methods of sampling, samples, populations. Parameters and statistics.
   Sampling distributions. Estimating population means and proportions. Testing a hypothesis.

Index Numbers:
   Problems involved in their use, price relative methods, aggregative methods. Laspeyre and
   Paasche indices ratail price index, index construction and interpretation.

Time Series Analysis:
   Trends, moving averages, seasonal variations, random variations, exponential smoothing and
   simple forecasting. De-seasonalising a time series.
   Official sources of economic and business data.
   The National Income and Expenditure Accounts.
   Censuses of population, production, distribution.
   Manpower earnings, cost of living, capital formation, trade returns and balance of payments.

      Candidates will be provided with the necessary tables.
      Candidates may make use of hand-held, self-powered, silent, non-programmable calculators, but
      intermediate working steps must be shown.

   Three hour examination paper


                       (3rd Edition)



1. AIM

        The aim is to:-
        create an understanding of the processes of Zimbabwean law, rather than the theories, which
            impinge on business.


        At the conclusion of this module the candidate should be able to:-

                2.1.1   Understand the nature of law
                2.1.2   Know the sources of law
                2.1.3   Have a basic understanding of the law relating to:

                       Delict
                       Contract
                       Partnership and companies
                       Agency
                       Debt collection
                       Carriage of goods

      Evidence of assessed pre-requisite knowledge and understanding at ‘A’ Level, or those of
      equivalent qualifications which have been approved as meeting the Institute’s qualifications must be


        4.1     The Nature of Law

                3.1.1   the relationship of and distinction between common law, statute law and customary
                3.1.2   stare decisis;
                3.1.3   obiter dictum;
                3.1.4   ratio decidend.

        4.2     An Outline of selected areas of Business Law

4.2.1   General Principles of Contract
 The formation of a contract, consensus and capacity to act. Effect of defects of will such as in mistake, misrepresentation, duress,
                undue influence etc. Performance must be possible: Effect of impossibility of performance
                existing at the time of the conclusion of the contract as distinguished from
                supervening impossibility of performance. Transfer of contractual rights and obligations. The conclusion of contracts,
                its performance and its objects must be lawful with particular emphasis on
                agreements in restraint of trade. Formal requirements must be met. The contents and Interpretation of the contract
                - essentialia of a contract
                - implied terms
                - the Parol Evidence Rule. Breach of contract and remedies on the ground of breach. The termination of obligations. Specific Contracts Specific Contracts
                - requirements for the formation of a contract of sale
                - the duties of the seller
                - the duties of the purchaser
                - transfer of ownership Contracts of Lease
                - definition of a lease
                - duties of the lessor
                - duties of the lessee
                - the hypothec of the lessor
                - termination of contracts of lease Agency and Authority   Formation of agency   The effect of agency   Liability of the agent   Types of agent   Termination of Authority


              Responsibility of employers for the defects of employees.

      Partnerships and Companies

              Dissolution of Partnerships
              Differences between partnerships and companies

      Debt Collection

                Instructing the lawyer
                Default judgement, Judgement and Provisional Sentence
                Writ of Execution
                Civil imprisonment
                The small claims court

      Carriage of Goods

              The common law position
              The position under the consumer contracts Act No. 6 of 1994
              Taking note of the existence of other related statutes.

   Three hour examination paper.


CHRISTIE RH (1992)       PRACTICAL                   FOUNDATION FOR             HARARE
                         COMMERCIAL LAW IN           BUSINESS STUDIES
                         ZIMBABWE (1ST Edition)
CHRISTIE RH (1998)       BUSINESS LAW IN             JUTA & Co Ltd              KENWYN
                         ZIMBABWE (2nd Edition)
MANAGE AJ,               A HANDBOOK ON               UNIVERSITY OF              HARARE



1. AIM

      The aim of this module is to:-

      1.1     address the need for the Chartered Secretary to be knowledgeable and competent in
      dealing with the communication challenges faced by today’s organization.


      At the conclusion of this module the candidate should be able to:-

              2.1.1    Understand the scope of the various forms of communication and their uses in
              2.1.2    Choose the right media and channels for use in different communication situations.
              2.1.3    Write business documents that are able to pass and be effective in the business
              2.1.4    Understand the impact of communication in the strategy of a business.
      Evidence of assessed pre-requisite knowledge and understanding at ‘A’ Level, or those of
      equivalent qualifications which have been approved as meeting the Institute’s qualifications must be


      4.1     Communication Theory
              Basic concepts of the communication process and barriers. How to structure
              communication for the particular audience and the situation and how to analyse and
              evaluate its success. Selection of the most suitable media from the alternatives available;
              use of non-verbal communication.
              Verbal and Non-verbal communication.

      4.2     Communication in an Organization
              Introduction to organization structures including line, staff and matrix. Appropriate
              techniques for communications within the formal and informal structures – to the hierarchy
              along lateral lines and the “grapevine”. Importance of written policy and procedures.
              Culture and its influence on communication.
4.3    Written Communication
       The ability to use correct and concise English in business communications and to
       demonstrate the skills of description, persuasion and evaluation. The preparation of any
       communication types including memoranda, letters, circulars, reports, instructions,
       advertisement, questionnaires, press releases, articles and proposals. The theory and
       practice of speech writing.

4.4    Messages
       The use of E-Mail, and the internet, effect of these on communication in organizations. An
       understanding of the e-mail and its management in today’s communication process.
       Impact of Personal computers on communication.

4.5    Oral Communication
       Interpersonal and intrapersonal communications. The techniques of effective interviewing.
       Speaking to individuals and formal and non-formal groups. The advantages and
       disadvantages of oral communications. Principles of good listening and barriers to
       effective listening. Negotiating techniques.

4.6    Meetings
       Notices and agendas – Drafting a Notice and Agenda – important points to note.
       Minutes – The writing of minutes.
       Valid Meetings – What constitutes valid meetings
       Role of Chairman and Secretary – The activities that must be carried out by the Chairman
       and Secretary before and after the meeting.
       Types of Meetings
      a)       Annual General Meeting
      b)       Extraordinary General Meeting
      c)       Ad Hoc Meetings

               Motions – The drafting of motions for the meetings
               Resolutions – The proper recording and phrasing of resolutions

     4.7       Graphic Communication
               The various types of Graphic communication. Purposes of graphic devices.
               An introduction to measures of location – means, medians and modes – and sampling. The
               presentation of numerical data, trends and moving averages by means of graphs, charts and
               diagrams suitable for reports. (Correct drawing instruments must be used). Suitability of
               graphic communication.
    4.8       Audio Visual Aids
           Various audio and visual aids in use and appropriate security. Design of systems including
           classification for retrieval and updating information. The use of Audio and Visual Aids and
           important considerations to remember when using these devices.

           Three hour examination paper

Candidates intending to attempt the graphic communication question must equip themselves with a
compass, ruler, eraser, protractor, coloured pencils and a lead pencil.


Fielding M (1997)             Effective Communication Juta & Co Ltd                   Kenwyn
                              in Organizations (2nd
Adey A D, Andrew M C          Getting it right            Juta & Co Ltd               Kenwyn
(1996)                        (revised 1st Edition)



A chartered secretary operates at the centre of the organization. The aim of this module is to equip the
student with the knowledge and competencies in economic principles which affect the environment in which
the business operates in.

At the conclusion of this module the candidate will be able to.

 Understand the principles of micro and macro economics.
 Understand the relevance of these principles in the application of economic policies.
 Understand the difference between microeconomic and macro economic problems.
 Analyse economic issues and profer possible solutions.
 Distinguish the types of business organization and understand factors that influence their formation,
       growth, and survival.

Evidence of assessed pre-requisite knowledge and understanding at ‘A’ level, or those of equivalent
qualifications which have been approved as meeting the Institute’s requirements must be demonstrated.


4.1.       Overview of Economics
           What is economics.
           Resources scarcity and choice.
           Factors of production, division of labour, economies of scale.
           The role of government in the economy.
           The mixed economy, command economy.

National Income
    Circular flow of national income, components of national income.
    National income accounts.
    Methods of measuring national income and output.
Demand, Supply, Prices and Market Structure
    The price system, market prices and factor prices.
    Basic theories of consumer demand, utility, prices.
    Marginal and average costs, fixed and variable costs, opportunity costs, short and long-run costs.
    Law of diminishing returns, increasing and decreasing costs.
    Price and output determination under conditions of perfect and imperfect competition and monopoly,
    including State undertakings.
    Profit maximization and equilibrium analysis. Normal and super-normal profits.
    Micro-level investment decisions, expected rates of return.
    Elasticities of demand and supply – including cross market prices – effects of taxes, subsidies.

Level of Economic Activity
    An outline of the Keynesian analysis.
    Determination of level and changes in income and employment, propensities to consume and save,
    the multiplier effect - including foreign trade and government; the accelerator, determination of level of
    investment, liquidity preference and rate of interest.
    The monetarist critique. Government policies and relationship with inflation.
    Consumption, savings and investments – their determinants.
    The equilibrium of national income
    Aggregate demand and supply – The multiplier formula.

Money and Prices and National Income
    Meaning and functions of money, and credit.
    Development of money, functions and attributes. Measuring the supply, inflation, money and capital
    Financial systems and monetary policy.
    Systems and methods of monetary control.
    Government policies and relationship with inflation.


    Elementary knowledge of wage determination in conditions of perfect and imperfect competition; effect
    of trade unions on wage levels, wage differentials and level of employment; trade unionism in
    Monopoly in the labour market.

Theory of Distribution
    Marginal distribution theory, determination of wages.
    Economic rent and transfer earnings.
    Capital and interest – appraising investments, financing the firm.
    Enterprise and profits.

Taxation and Fiscal Policy
    Type of taxes and their effect on incomes, prices and individual and corporate activity.

Welfare Economics
    Pareto criterion. Allocative efficieny, efficiency and the free market.

Market Failure
    Causes of failure, imperfect competition, externalities.
    Public goods, government’s role.
    Transport and the economy.

National Economic Policies and Economic Development
    Aims and conflicts of policy in relation to full employment, economic growth, price stabilization, balance
    of payments, equilibrium, income distributions, regional growth and employment balance, mixed
    economy, relationship between Government and public and private sectors.
    Major problems confronting developing economies, including capital formation, population, agriculture,
    investment choices, trade relationships and international finance.

The International Economic System
     The gains of international trade – comparative advantages and its limitations.
     International trade relationships and monetary problems, including: balance of payments adjustment
     processes, fixed and flexible exchange rates, world liquidity, protective devices, primary commodity
     schemes and trading blocs, the role of the International Monetary Fund and the World Bank.
     Protectionism. Influence of Trade blocks.

The Zimbabwean Economy
     The historical output of the economy, current structure, recent economy performance and current
     economic methods. Levels of employment, inflation, national debt.

Growth and Development
     Factors influencing growth, the debt problem, people and growth, development economics. Role of
     regional bodies.

The examination will be related primarily to the Zimbabwean economy.

    Three hour examination paper


Samuelson P A               Economics (18th Edition)     Tata McGraw-Hill             New Delhi
Nordhauj W D (2005)
Baumol W J, Blidner A S     Economics Principles &       Harcourt Brace and           Orlando
(1998)                      Policing (7th Edition)       Company
Lipsey, Crystal (2004)      Positive Economics (10th     Oxford University Press      Oxford

Note: It is essential for the student of this subject to read current economic commentary in financial press.



The aim of this module is to introduce the student to the subject of Accounting and provide an
understanding of the role of the discipline in the running of the organization.

At the conclusion of this module the candidate will be able to.
 Understand the basic Financial Accounting principles and their applications.
 Prepare simple books of accounts for sole traders and non-profit making organizations.
 Make necessary correction of errors and prepare financial statements from incomplete records.
 Prepare financial statements for sole traders and non trading requirements.

Evidence of assessed pre-requisite knowledge and understanding at ‘A’ Level, or those of equivalent
qualifications which have been approved as meeting the Institute’s qualifications.

Double Entry System
Accounting theory.
Concepts and accounting for capital, assets, liabilities, expenses and income including the accounting
(balance sheet) equation.
Approaches to double entry principle.
Books of Original Entry
Writing up and construction of Journals, sales day books, purchase journals, bills books, returns inwards
and returns outwards books suitable for various business enterprises, and the journal proper from primary
documents e.g. invoices and receipts.
Transferring of the relevant amounts to the ledger.

The Ledger
The ledger as a summary of all transactions undertaken by a business during a particular period, including
balances from previous periods.
Direct entries to the ledger, and entries using books of original entry. Use of folio numbers to cross-
reference accounts. Balancing of ledger accounts including the cash book.
The trial balance and suspense accounts.

Cash Accounting
Writing up and adjustment of cash books (including petty cash book).
Trade discount and cash discount.
Bank reconciliation statements, including treatment of unpaid cheques, post-dated cheques, bank charges,
transfers and contra entries and errors.

Matching concept
Matching revenue and expenditure – accruals and prepayments of income and expenses.
Accounting for assets, liabilities, revenue and expenses in proper accounting period.
Year-end adjustment including stocks shortages.
Various methods of providing for and calculating provision for depreciation on fixed assets – straight-line,
reducing balance, revaluation, and sum-of-digits. Provision for bad debts and discounts.

Valuation of Assets
Inventory valuation, First-In-First-Out (FIFO) Last-In-Fist-Out (LIFO).
Simple and weighted average methods of inventory valuation. Article and Category methods. Lower of
cost and net realizable value rule.
Valuation of imported goods rules: “in bonds” sales at reduced mark-ups. Goods on sale or return. Cut-off
dates for stocktaking.

Simple partnership accounts
Preparation of Capital and Current Accounts, Profit and Loss Appropriation Account and Balance Sheet.

Preparation and Presentation of Financial Statements

Preparation and presentation of Manufacturing, Trading, Profit and Loss Accounts and Balance Sheets of
sole traders in acceptable presentation form in accordance with the Relevant Accounting Standards.
Financial statements for non-trading organizations including the Receipts and Payments, income
statement and balance sheet.
Treatment of post Trial Balance adjustments including asset disposal accounts.

Control Accounts
Purpose of control accounts.

Writing up and reconciliation of debtors and creditors control accounts and agreement with debtors and
creditors ledger balance.

Correction of Errors
Identification of and treatment of errors which are not reflected in the trial balance.
Errors which result in a difference in the trial balance.
Use of suspense accounts at elementary level, to account for differences in the trial balance.

Debtors and creditors statements.
Remittance advices.
Bank Reconciliation Statements.

Departmental Accounts
Presentation of departmental financial statements (Manufacturing, Trading and Profit and Loss Accounts);
inter-departmental transfers, allocation and apportionment of expenses.

New Developments in Accounting Systems
Extended (multi-column) cash books and specialized journal.
Computerized accounts.

   Three hour examination paper.


Wood F (2005)            Business Accounting I     Pitman Publishing     London
                         (10th Edition)
Musamba J F (2005)       Introductory Accounting   Vision Publications   Harare
                         (3rd Edition)



The aim of the module is to build on the body of Accounting knowledge learnt in the Introduction to
Accounting module, develop and assess knowledge and skills required in the preparation of various forms
of Accounts and accounting statements of various organizations.

At the conclusion of this module the candidate will be able to.
 Prepare company financial statements for internal and external use.
 Prepare simple consolidation accounts
 Prepare specialised accounts i.e. Branch accounts, Royalties, Investments.
 Interprete and analyse financial accounts.
 Make the necessary preparations for audit.

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s requirements.

 Introduction to Financial Accounting
 Quantitative Techniques


General revision of first course.
Accounting for partnerships including changes in profit sharing ratios and conversion to companies and

Corporate Accounting
Steps in formation, issues of shares and debentures of limited companies including pre-incorporation
Preparation of financial statements of companies for management and publication in compliance with
statements and guidelines on generally accepted accounting practices, including the international
accounting standards.

Preparation and Presentation of Financial Statements
Preparation of basic financial statements of companies where subsidiaries are wholly owned complying with
relevant international accounting standards including treatment of taxation in Financial Statements and

Accounts of Different Types of Organizations
Preparation of accounts for branches and trusts.

Transactions of a Special Nature
Investments, underwriting, redemption of shares and debentures,
Joint ventures,
Hire purchase (in accordance with relevant accounting standards).

Analysis and Interpretation
Financial statements and the use of ratios.
Using ratios to analyse and interprete financial statements e.g. activity, liquidity, profitability and gearing
Cash Flow Statements
Preparation of cash flow statements for companies (excluding consolidated cash flows) as per the
requirements of the relevant International Accounting Standard(s).

Accounting Information as an aid to Management
Preparation of budgets, forecasts, cash budgeting.

Candidates may make use of hand-held, self-powered, silent and non-programmable calculators but
intermediate working steps must be shown.
Candidates are expected to apply theory to practical situations.

    Three hour examination paper


Wood F                      Business Accounting           Pitman Publishing        London
Sangster A (2005)           (10th Edition)
Mans KN, Boshoff A,         Cilliers and Mans             Lexisnexis Butterwoths   Durban
Binnekade CJ,               Group Statements –
Koppeschaor ZN (2004)       Volume II (9th Edition)
Zimbabwe Government         Zimbabwe Compaies Act Government Printers              Harare
(2000)                      24:03



The aim of this module is to develop and assess the essential knowledge and skills involved in the handling
of corporate and individual’s taxation issues.

At the conclusion of this module the candidate will be able to.
 Understand the tax framework, environment and the law that regulates taxation.
 Prepare tax computations for individuals, partnerships and companies and covering industry types such
    as miners, farmers etc.
 Understand the difference between income tax and capital gains tax.
 Have an understanding of sales tax and or VAT, withholding taxes particularly PAYE.
 Engage in tax planning for organizations and individuals.

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s requirements.

 Introduction to Financial Accounting
 Business Communication

  Taxes levied in terms of the Income Tax Act (Chapter 23.06) with particular reference to-
          a) The Income Tax Act
                    (i)           gross income
                    (ii)          deemed accruals
                    (iii)         income from assets in deceased estates
                    (iv)          sources of income
                    (v)           exempt income
                    (vi)          general and specific deductions
                    (vii)         dividends
                    (viii)        individuals, minors, natural persons, partnerships, trusts, companies, private
                                  business corporations, farming, mining, export processing zones, growth
                    (ix)          insurance companies, financial institutions, non-profit and statutory
                a) Aspects of Income Tax Act:
                          i)      livestock and farm produce
                          ii)     trading stock
                          iii)    suspensive sales
                          iv)      interest incurred and accrued
                          v)       lump-sum benefits
                          vi)      non-resident taxpayers
                          vii)     avoidance and evasion
                          viii)     fringe benefits
         b)      Procedures
                          i)        returns
                          ii)       assessment
                          iii)      payment
                          iv)       Recovery and refund
                          v)        Withholding taxes
          c)      Important court decisions which clarify tax law and relate it to generally accepted tax
          d)      The administration of the Act, including Annual Payment Dates
          e)      The current practices of the Commissioner General
          f)      Tax planning
  Duties levied in terms of the Estate Duty Act (Chapter 23/03) with particular reference to –
  The Estate Duty Act and other relevant legislation including the Administration of Estates Act:
               i)       estate – (its meaning)
               ii)      valuation
               iii)     deduction
               iv)      duty payable
               v)       returns required

      important court decisions
      the practices of the Commissioner of Taxes
      estate planning

Taxes levied in terms of the Value Added Tax Act with particular reference to-
      the Value Added Tax Act and relevant Statutory Instruments
      important decisions
      the practices of the Commissioner of Taxes
      tax planning
  Taxes levied in terms of the Capital Gains Tax Act (Chapter 23:01) with particular
      reference to-

           a) The Capital Gains Tax Act
              i. calculation of tax payable
             ii. rollover
             iii. withholding tax
            iv. payment, assessment, refund
          b) Important court decisions
          c) The practices of the Commissioner of Taxes
           d) Tax planning - sale of business

4.4. Other taxes, rates, levies and duties – legislation and liability:-
    a) crop levies
    b) property rates and taxes
    c) customs duties and import taxes
    d) paysheet levies – Standards, Zimdef, NEC and NSSA

    Questions will be set on any of the provisions of the Income Tax Act, Finance Act Value Added Tax and
    Capital Gains Tax Act.
    Candidates will be required to submit answers to certain questions in the form of reports or memoranda
    and to quote the relevant case law.
    Questions will be based on the legislation applicable to the year of assessment ended on the 31st
    December in the previous calendar year.

    1. Candidates may make use of hand-held, self-powered, silent, non-programmable calculators but
         immediate working steps must be shown.
    2. Candidates may take into the examination room an unmarked copy of the Income Tax Act (as
         amended) and of the Finance Act and the Capital Gains Tax Act.
    3. Students are permitted to take in their ZXNET Amended Zimbabwe Taxation Statutes provided, of
         course, that no notes or commentaries are included.

    Three hour examination paper.


Hore J, Mangoro M             Students Guide to Tax in ZXNET                      Harare
(2006)                        Zimbabwe
Tagara E (2006)               Zimbabwe Taxation             Vision Publications   Harare
                              (Revised Edition)
Zimbabwe Government           Income Tax Act (23:06)        Government Printers   Harare



1. AIM
The aim of this module is to instil the principles and impart the key skills necessary to be able to understand
and operate in an audit function.

At the conclusion of this module the candidate will be able to.
 Understand the Framework and purpose of auditing.
 Be able to appreciate the nature and theory of the Auditing function.
 Carry out internal audit functions.

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s requirements.

 All Part A
 Financial Accounting
 Taxation

    Historical Developments of Auditing
-       Statement of responsibilities
-       Audit committees

    Principles of Auditing
-       Nature of Auditing
-       Objectives of an Audit
-       Auditing Standards
-       Role of Internal Auditor, compatibility with auditing standards
-       Independence, professional qualifications, Role of external Auditor
-       Reliance on work of an Internal Auditor
-       Appointment, Duties and Rights of an Auditor
-       Company Law provisions affecting auditors
    The Audit Process
-       Planning
-       Materiality and risk assessment
-       Familiarisation with the client (knowledge of business)
-       Controlling and Audit and Audit working papers
-       Recording the system

Audit tests and sampling. Compliance and substantive test techniques ranging from enquiry, observation,
examination, sampling, reperformence, recalculation to establish that the work has been properly

-       sampling techniques
-       audit evidence
-       management letters
-       audit reports – any benefits to be derived from auditor’s activities will normally be accomplished
        through the medium reports on findings and recommendations
-       bank and external confirmation

    Responsibilities and how Compatible they are
Evaluating the system. Evaluation of internal control from the standpoint of how well the accounting system
provides for information that is adequate and accurate; protection of resources of business from losses due
to theft, embezzlement or carelessness. (This is normally a part of the external auditing function). Also
evaluation of clerical and accounting efficiency: effectiveness of procedures, utilisation of resources, use of
mechanical and electronic equipment, adequacy of personnel. (This is normally part of the internal auditing
    Professional Ethics – International Federation of Accountants Requirements on Auditing

    Computer Auditing
-       Audit procedures of computer applications – input controls, processing controls, output controls,
        user controls and general controls.
-       Advanced computer auditing such as the use of internet, e-commerce Eft, Pos, etc.

    Reliance on Others
-       Specialists – Lawyers, property valuers etc. Other activities – work performed by other auditors at
        branches or subsidiaries.

    Evaluating and Concluding
-       Post Balance Sheet events
-       Contingencies and commitments
-       Completion of the audit
-       Going concern and letters of representation

    Audit Practice
-       Relevance of controls to the internal and external audit
-       The nature of systems of internal control
-       Evaluation of systems of internal control
Knowledge of International Accounting Standards and the International Auditing guidelines is a

    Three hour examination paper

Milichamp AH (2002)        Auditing (8th Edition)       Bookpower                  London

Puttick G                  The Princples and            Juta & Co Ltd              Kenwyn
Van ESCH S (2003)          Prictice of Auditing (8th
Chambers AD, Selim         Internal Auditing            Pitman Publishing          London
GM, Vinten G (1987)



1. AIM
The aim of the module is to develop and assess competencies in the Human Resources Management
function of the organization.

At the conclusion of this module the candidate will be able to.

 Understand the role and function of Human Resources in an organization.
 Understand the law that relates to aspects of Human Resources Management.
 Evaluate Human Resources systems, make appropriate decisions and recommendations as regards to
  i. Human resources recruitment and selection.
 ii. Training and development
 iii. Performance and reward
 iv. Organizational Culture
 Appreciate the pivotal role of Human Resources in an organization’s strategy.

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s requirements.

 Business Communication


    Personnel Management
The duties of a personnel manager and his place in the organization of a business. Personnel
management. Managing a workforce. Organization of work. Organizational types and differences.

    Human Resources Recruitment and Selection
Short and long term planning. Labour turnover, recruitment and selection – Labour markets, Job analysis,
Personnel Specification, Job descriptions, recruitment methods, selection methods, equal opportunities,

    Performance and Reward
Performance appraisal – merit rating
Rewards and motivation – theories of motivation, effective leadership.
Performance related pay. Indirect compensation
Employee empowerment
Benefits, staff welfare
Job evaluation

    Training and Development
The learning process

Short and Long-term planning
Induction and education programmes in general
Training, of apprentices and supervisors
Policies on promotions, transfers, dismissals, and retrenchments
Training and development for strategic success – competence assessment
Organizational Development – quality and productivity

    Organizational Culture
Framework of organizational culture:
Managing ‘culture’, the role of Human Resources Management. Organizational culture and business
Management of culture change

    Law Practice Relative to
Remunerations, hours of work, overtime, holidays, sick leave, fridge benefits, employment records. The
employment contract/rights and obligations of the parties. Pension funds, medical schemes, insurance and
P.A.Y.E. Employee’s safety. Industrial accidents.

    Effective Communication
Interpersonal skills
Communication – the need and the communication patterns
Counselling – role and skills
Conflict management – grievance procedures, discipline management

    Three hour examination paper


Armstrong M (2005)          A Handbook of              Kogan Page            London
                            Personnel Management
                            (9th Edition)
Zimbabwe Government         Factories & Workers Act    Government Printers   Harare
Zimbabwe Government         Income Tax Act 23:06       Government Printers   Harare
Zimbabwe Government         Labour Act 28:01           Government Printers   Harare
Zimbabwe Government         Manpower Planning &        Government Printers   Harare
(1984)                      Regulations Act 28:02
Makings G (2004)            Commentary on the          Howard Dean &         Harare
                            Labour Act (4th Edition)   Company

1. AIM
        The aim of the module is:-
1.      To provide a conceptual framework and practical applications of Information Technology to
        organizational situations; and assess the knowledge and skills necessary for a manager to function
        in an Information Technology driven economy / business.

        At the conclusion of this module the candidate should be able to.
                 Understand the impact of Information Technology on business.
                 Evaluate the organization’s Information Technology requirements and make
                    appropriate decisions.
                 Identify and use the sources of information for the organization.
                 Use Information Technology, to leverage competitive advantage and deliver knowledge
                    to the organization’s requirements.

        Evidence of assessed pre-requisite knowledge and understanding at ‘A’ Level, or those of
        equivalent qualifications

1.1. Foundation Concepts
     Information Systems: (IS)
        What is an IS?
        Distiguishing between IT and IS
        System concepts,
        IS components,
        IS resources,
        IS types,
        Classes of Information Systems
4.1.2   Information Technology:
        Motivation factors, attributes of information, management information, systems theory, data
        systems and users.
4.1.3. Business Management Information:
         Business organizations, business information, management information, management information

4.2. Technology
4.2.1.   Introduction to Computer Hardware:
         Computer architecture, major hardware components and types of software
         Types of computer systems: micros, minis, mainframes, networked computers; types and trends;
         computer peripherals: input, output, storage devices.

4.2.2. Introduction to Computer Software:
         Systems software: operating systems, programming language generations, language translator
         programs; Applications software: development tools, selection and implementation of software,
         package versus bespoke decisions.

4.2.3. Introduction to Database Management
         Manager’s view of file and database processing, management problems of file processing,
         database management software, logical data elements, database structures, database
         development, database systems and concepts; entity-relationship model; relational model and
         algebra; relational commercial query languages; integrity constraints; design theories for relational

4.2.4. Introduction to Telecommunication Technology
         Applications of telecommunications; technical telecommunication alternatives: media, processors,
         software, network, topologies, architectures and protocols, communications channel characteristics.

4.3. Applications

4.3.1. Information Systems in Business Management:
         Information Systems for business operations,
         Information Systems and management,
         Information Systems and decision making,
         Strategic roles of Information Systems.
         Information systems for leveraging competitive advantage.

4.3.2. End User Computing and Office Automation:
        End user computing: components, resources, applications, management implications;
        Office automation :
        word processing, desktop publishing, image processing, computer graphics, multimedia
        presentations, management implications.

4.3.3. Transaction Processing and Business Information Systems:
        Transaction processing systems: batch processing, real-time processing;
        business information systems: marketing information systems, manufacturing information systems,
        human resource information systems, accounting information systems, financial information
        systems, and process control systems.

4.3.4. Managerial Information and Support Systems:
        Executive information and decision support systems,
        Artificial intelligence and expert systems.

4.4. Development And Management

4.4.1   Developing Information Systems Solutions:
        ystems development cycle: investigation, analysis, design, computer aided systems engineering,
        prototyping, implementation, testing; evaluating hardware, software, services;
        Systems development tools: system flowcharts, data flow diagrams, case tools.

4.4.2   Managing Information Technology:
        Information resource management: strategic management, functional management, resource
        management, technology management, distributed management, information technology
        management, business and information technology strategies, business and Information technology
        applications, information technology platforms.
4.4.3   Security and Ethical Challenges of Information Technology:
        Information system controls, procedural controls, physical facility controls, auditing;
        Information security policy and information security standards,
        Ethical and social dimensions of information technology,
        Computer crime, and health issues.

     Three hour examination paper

O Brien JA (2005)        Introduction to             Irwin               Chicago
                         Information Systems
                         (12th Edition)
Laudon KC, Laudon JP     Management Information Prentice Hall of India   New Delhi
(2005)                   Systems (8th Edition)

SYLLABI – PART C (Professional Programme I)


1. AIM
The aim of this module is to instil the knowledge, key skills and competencies necessary to act in a Cost
and Management Accounting function.

At the conclusion of this module the candidate will be able to.

 Understand the framework of Cost and Management Accounting.
 Perform cost accounting functions using the various costing methods.
 Advise Management on business decisions based on cost and management accounting concepts.
 Analyse the cost accounts and use variance analysis to guide decision making.
 Develop suitable costing systems for the organization.

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s qualifications.

 All of Part A
 Taxation
 Financial Accounting


4.1. Distinction between cost accounting, management accounting and financial accounting.
4.2. Elements of cost
Their nature and classification. Cost centres and cost units.
Relationship between costs and financial accounts. Double entry theory applied to cost accounting records,
interlocking and integral accounts.
4.3. Classification of materials
Purchasing stores. Basic controls applied to purchasing (including economic order quantity), pricing of
stores issues and inventory valuation, valuation of work in progress.

4.4. Quality and Control
Just In Time Purchasing and Manufacturing
Total Quality Management

4.5. Remuneration
Principles of wages control including the learning curve and payroll routine.

4.6. Overheads
Analysis and classification of overhead expenses, their apportionment to cost centres and absorption into
cost units. Activity based approaches to Cost Analysis.

4.7. Product costing
Principles applied to job, process and service type industries.
Conversion cost and accounting for material losses
Problems of common cost
Joint products, by products
Activity based costing – use of cost drivers and activities

4.8. Budgetary Control
Objectives of budgetary control, evaluation of budget systems
Al types of budgets including:
Fixed and flexible budgets, cash flow budgets, use of variances,
Quantitative aids to budgeting, use of computer based models,
Behavioural implications of budgeting and budgetary control.

4.9. Marginal costing
Theory and practice. Contribution concept.
Break even analysis. Profit/volume ratios. Margin of safety. Profit graphs.
Relevant costs, limiting factors, including problems requiring elementary linear programming solutions,
decisions about alternatives, such as make or buy, and shutdown.

4.10.   Standard costing
Types of standards – (basic, normal, current, expected and ideal standards)

Setting standards, Variance analysis, two, three and four variance analysis, treatment and utilization of
Significance and relevance of variances, planning and operational variances. Behavioural of implications.
Patterns of cost behaviour
Influence of volume of activity
The preparation of profit reconciliation statements using either standard marginal costing or absorption
costing principles.

4.11.   Divisional Performance Evaluation
Functional and divisionalised organizational structure
Profit centres and investment centres
Advantages and disadvantages of divisionalization
Return on Investment
Residual Income
Transfer pricing in divisionalized companies – transfer pricing manipulation and tax havens.

4.12.   Decision Theory
Decision making under:- Risk, uncertainty, centainty
Probability distributions and expected value
Network Analysis / Critical Path Method (CPM)
Project Evaluation and Review Techniques (PERT)
Cost reduction schemes
Back flush accounting
Through put Accounting
Decision Tree Analysis
Use of cost information for pricing decisions under conditions of uncertainty
4.13.   Quantitative Techniques in Management Accounting
(Statistical replacement methods i.e. vehicle replacements, other replacements, inventory control
models, transportation models).

4.14.   Presentation of Information to Management
Operating statements, variance reports, ratios, inter-firm and inter-divisional or departmental comparisons
using such methods as tables and graphs.
*       In addition, candidates will be expected to make comments concerning the non-quantitative aspects
        of the decision being made. Candidates may also be required to use knowledge gained in other
        subjects of the course.

Candidates may make use of hand-held, self-powered, silent, non-programmable calculators but
intermediate working steps must be shown

    Three hour examination paper


Lucey T (2004)              Costing 6th Edition         Bookpower                   London
Drury C (2004)              Management and Cost         Thompson Learning           London
                            Accounting (6th Edition)

SYLLABI - PART C (Professional Programme I)


1. AIM

The aim of the module is to equip the candidate with the key competencies necessary to run a fully fledged
Financial Accounting function, including reporting both for Internal and External purposes.

At the conclusion of this module the candidate will be able to.
 Understand the theory and practice of Financial Accounting and Reporting.
 Understand the International Accounting Standards governing the discipline of Accounting.
 Prepare Financial Accounts at all levels including the use of inflation accounting.
 Prepare Financial Statements for Internal use and external use.
 Make the necessary interpretations, evaluation of Accounts and be able to account for leases,
    Reconstructions, Mergers and Amalgamations.
 Prepare group accounts and financial statements of all forms.

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s requirements.

 All of Part A
 Financial Accounting
 Taxation

4.1. General revision of earlier courses in accounting.

4.2. Accounting Framework
Accounting theory, measurement of profit, standard setting (including national and international accounting

4.3. International Accounting Standards
Coverage of all the International Accounting Standards and the framework in which they are set or

4.4. Financial Statements
Preparation of advanced financial statements, group accounts, accounting for associated companies,
taxation and deferred taxation in financial statements. Group cash flows.

4.5. Inflation Accounting
Changing prices. Accounting under conditions of changing prices; Hyperinflation.

4.6. Specialised Accounting
Special aspects relating to limited companies including acquisitions, mergers, reconstructions and
amalgamations. Valuation of business and other securities.

4.7. Interpretation of Accounts
Analysis and interpretation of financial statements, use and limitations of accounting ratios.

4.8. Informational Content of Accounts
Financial statements as a source of information for management, investors, creditors and other interested
Installment and other credit agreement sales, allocation of profit, deferred taxation.

4.9. Foreign Exchange
Treatment of Foreign exchange transactions – including branches and subsidiary companies.

4.10.      Current Developments
Modern developments in accounting and reporting.

4.11.     NOTES:

1.        Knowledge of relevant International Accounting Standards is a pre-requisite.
2.        Knowledge of the Income Tax Act (as amended) and the Companies act (as amended) is essential.
3.        Candidates may make use of hand-held, self-powered, silent, non-programmable calculators but
          intermediate working steps must be shown.

     Four hour examination paper

Mans KN (etal) (2004)        Group Statements Volume II        Butterworths              South Africa
                             (9th Edition)
Paradza P (2007)             Advanced Accounting &             ICSAZ                     Harare
                             Financial Reporting Volume I
Paradza P (2008)             Advanced Accounting &             ICSAZ                     Harare
                             Financial Reporting Volume II
Zimbabwe Government          Companies Act 24:03               Government Printers       Harare
Lewis R                      Advanced Financial                Prentice Hall             London
Pendrill D (2004)            Accounting (7th Edition)

SYLLABI – PART C (Professional Programme I)

1. AIM
Operations and strategic management is at the core of an organization’s survival and growth. The aim of
this module is to develop and assess the key competencies in both operations and strategic management

At the conclusion of this module the candidate will be able to.

 Understand the concepts, problems and practices of Operations and Strategic Management
 Apply the management concepts in a business environment
 Analyse the operations and strategic issues and factors involved in an organization and develop
    solutions and systems for the effective management of the organization.
 Provide leadership and strategic focus to the organization’s members.

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s qualifications.
 All Part A
 Marketing
 Human Resources Management
 Financial Accounting
 Information Technology
    Operations Management

    Business Organization
The various business facets in the business and their interrelationship. The role of the administrator, vis-à-
vis sales, production, marketing, finance, planning and other functions. The use of organization and control
The role of management in organizations. Difference between the role of the “Director” and that of
“Manager”. Leadership, direction and motivation, including the management of managers; training and
development, management succession.
The transition from functional to general management.

    Globalization and Management
Meaning of globalization, competitiveness, influence of governments.
Human resource / marketing / finance and production challenges faced.

Organizational culture,
Corporate culture and performance,

Importance and value of quality, implementing quality systems.
Types of quality systems.


Importance and value of planning.
Strategic and operational plans.
Corporate level planning,
Business Unit planning,
Functional level planning.

    Organization and Organising
Organization Hierachy, Departmentalisation, Integration, Coordination. Organization structure and design:
The Functional Organization, the application of Contingency Theory, Organization Change and
Development (OD), Matrix Organizations for projects, Line and Staff authority, Delegation, Decentralisation.
The impact of technology and the environment on organizations. The organization and coordination of the
main organizational functions of Production/Operations, Marketing, Research and Development. The
development of corporate plans including an introduction to business and technological forecasting. The
problems of large organizations; centralisation and de-centralisation; autonomy and control; problems of
diversification, mergers. Management of small business. Project Management. Human resources
planning, recruitment, selection, training.

Control process, control systems, financial controls, budgets, audits.
Operations management, operation systems, planning and control.
Information systems – computer based MIS, security, knowledge management.

Motivation – Theories of motivation, contemporary views on motivation defining leadership, effective and
ineffective leaders.
Contigency approaches to leadership.
Personal characteristics.
Teams – Types of team, characteristics of teams, effective teams.
Communication – Interpersonal communication, communication process, communication in organizations.
The internet, intranets, electronic mail.
Negotiating – Managing conflicts.

    Managerial Accountability and Authority
The constraints and choices facing managers. Delegation; authority accountability and responsibility;
setting of objectives and management by objectives.

Organization structure and design: the application of contingency theory, matrix or project structures. The
impact of technology and the environment on organizations. The organization and co-ordination of the main
organizational functions of production or operations, marketing, research and development. The
development of corporate plans including an introduction to business and technological forecasting. The
problems of large organizations; centralization and decentralization: autonomy and control; problems of
diversification mergers. Management and small business.

    Risk Management
The evaluation of risks and determination of which should be the subject of insurance policies. Averaging.

     Strategic Management

     Concept of Strategy

1.      What is Strategy – importance of strategic management
2.      Role and Development of Strategy – vision, mission, objectives, crafting a strategy.
3.      Sources of Profit and Distinction between Corporate and Business Strategy
4.      Functional strategies

     Analysis of the Environment
Analysing the Industry, competition and demand, segmentation of industry, strategic groups, evaluation of
company’s resources and competitive capabilities.

     Competitive Advantage
Nature and source of competitive advantage.
Generic competitive strategies, vertical intergration, co-operative strategies, offensive and defensive
strategies, matching company to firm’s situation.
Cost advantage
Differentiation advantage
Technology intensive, Labour Intensive

     Strategy Formulation in Global Industries
International competition
International location of production
Globalization versus national differentiation
Strategy within Multinational corporations
     Generic Corporate Strategy
Limited growth strategies, growth strategies, retrenchment, combination strategies, generic competitive
strategies. Building shareholder value, Diversification Strategies. Related and unrelated Diversification
Strategies, Divestiture, Corporate turnaround, Restructuring. Multinational Diversification.

4.3.6. Implementation
Organizational culture, types of cultures, leading and implementing change, dealing with resistance to
Strategic Leadership – Responsiveness, innovativeness, company politics, ethical behaviour.
Building Capable Organizations, core competencies and competitive capabilities.
Budgets and policies, information systems, reward systems.

    Four hour examination paper


Stoner JAF                 Management (6 Edition)      Prentice Hall of India      New Delhi
Freeman RE
Gilbert DR (2000)
Chingosho E (2008)         Strategic Management        ICSAZ                       Harare
                           Text and Cases
Chingosho E (2008)         General Management          ICSA                        Harare

SYLLABI – PART C (Professional Programme I)


1. AIM
The Chartered Secretary has the responsibility of advising management and the board on legal issues
relating to the organization. This module’s aim is to equip the student with adequate knowledge in both
commercial and company law.

At the conclusion of this module the candidate will be able to.

 Understand the sources, functions and purposes of law.
 Understand the principles of legal personality.
 Understand facets of both commercial and company law.
 Evaluate business law issues and advise the organization appropriately.
 Appreciate intellectual property as it is understood in business.

Evidence of assessed pre-requisite knowledge and understanding at ‘A’ Level, or those of equivalent
qualifications which have been approved as meeting the Institute’s qualifications must be demonstrated.


    Sources of Law
A study of the nature, sources and classification of the law, function and purpose of the law.

    Administration of the Law
An understanding of the manner in which the law is administered and enforced through the judicial system.
The courts and judicial precedents.

    Legal Personality
The distinctions between companies, private business corporations, partnerships, sole traders, and other
incorporated bodies. The principle of corporate personality and limited liability. Lifting of Corporate veil,
statutory exceptions and judiciary exceptions.
Types of companies:-      Private, Public, Private business Corporation. Company limited by guarantee, Co-
                          operative Company and Statutory Corporations.
Formation of a Company:-          The steps taken in forming the various companies including the process of
                                  pre-incorporation and pre-incorporation contracts.
Company’ Powers:-         Memorandum and articles of association. Ultra vires doctrine, limitation of articles
                          of association.
Company Capital:-         Raising of capital allotment, underwriting, Prospectus, alteration of share capital –
                          reduction of share capital share splits, bonus issues, rights issues.
Company’s Securities:- Shares, debentures, preferene shares including redeemable securities.
Membership:-              Rights and duties, shares held in trust, register of members, holding and subsidiary
                          companies. Termination of membership, transfer and transmission of shares.

Management:-              Election of directors, board meetings remuneration, qualification, loans,
                          Company Secretary’s role

Types of meetings and resolutions, notices, proxies, quorum, voting, minutes.
Majority rule and minority protection - both under common law and statutory law provisions.
Company accounts and audit
Judicial Management
Arrangements and reconstructions
Winding up of companies
Parastatals – definition, characteristics, legal status management, finance and role of Parliament.

The law of contract including essentials of a contract, offer and acceptance, consideration, capacity to
contract, terms and representations, misrepresentation and mistake, restraint of trade, performance,
unenforceable and illegal contracts, cession, assignment, breach and remedies of the injured parties, effect
of death on contract.

     Property Law
Purchase, sale and use of property including cash, credit instalment, conditional and hire purchase sales,
implied terms, acquisition and transfer of ownership, possession rights and duties of buyers and sellers,
lease, mortgage pledge, liens and suretyship servitudes.

Principles of the law of agency, the ability to act for companies, or partnerships, the authority to act on
behalf of others, employer/employee relationship (distinguished from agency), vicarious responsibility, duty
of good faith.

Principles of the law of delict - damages.

Kinds of trusts, creation, rights of beneficiaries, role and duties of trustees.

Aspects of the Competition Act including, Restrictive Practices, Mergers and Monopoly situations.

    Alternative Dispute Resolution
Principles of arbitration and other forms of dispute resolution
Advantages of arbitration over litigation.

     Miscellaneous Ancillary Legislation
An understanding of the main principles of the law relating to:-
a)       banking - Relationship between banker and customer:-
         -       duties of banker
         -       protection of customer)
b)       negotiable instruments, with particular reference to:-
         -       cheques
         -       bills of exchange and
         -       letters of credit

c)      insurance
        -       nature of insurance contract, Distinction of insurance
        -       difference of contract from other contracts, concept of insurable interest and average
        -       Property insurance, Life Assurance, Insurance claims, Subrogation
d)      insolvency
        -       Concept of insolvency
        -       Acts of insolvency
        -       Effects of insolvency, impeachable transaction, rehabilitation
e)      intellectual property
        -       copyright, patents, trademarks and trade
                secrets, industrial designs

Candidates will be expected to quote relevant supporting case law and to be familiar with the common latin
legal terms found in recommended reading material.

     Three hour examination paper


Christie RH (1998)          Business Law in            Juta and Co Ltd             Kenwyn
                            Zimbabwe (2nd Edition)
Nkala, Nyapadi (1995)       Zimbabwe Company           ZDECO                       Harare
Zimbabwe Government         Companies Act 24:03        Government Printers         Harare
Zimbabwe Government         Consumer Contracts Act     Government Printers         Harare
Zimbabwe Government         Hire Purchase Act 14:09    Government Printers         Harare
Zimbabwe Government         Private Business           Government Printers         Harare
                            Corporations Act 14:01

SYLLABI – PART D (Professional Programme II)


1. AIM
The aim of this module is to address the need for the Chartered Secretary to be knowledgeable and
competent in the skills of corporate financial planning, and in understanding the impact of the fiscal
environment on the organization and its decision making.

At the conclusion of this module, the candidate will be able to:
   Understand the financial sources and requirements of the employing client organization.
   Understand the role and efficiency of the capital markets.
   Understand the nature and importance of capital structure and the cost of capital.
   Understand the impact of global and multi-national operations on corporate financial management.

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s required curriculum and standards:
   Financial Accounting
   Cost Management Accounting
   Corporate Law
   General and Strategic Management

    Financial Objectives and Requirements
The financial objectives of the main types of organization: public and private limited companies, statutory
companies, trusts, and companies limited by guarantee. Determination of financial requirements and their
impact on business planning and decision taking. The role of financial audit.

    Sources of Finance
Financial markets: role of the New Issues Market and Stock Exchange, including the Alternative Investment
Market. The operating institutions on the markets. Influence of Markets on market decisions. State
funding, corporate donations, sponsorship, grants, subscriptions, fund raising sources.

    Share and Loan Capital
The raising and maintenance of share capital: issue pricing and methods. Authorised and issued capital.
Dividend policy, including scrip dividends and share re-purchases. Finance and loan capital. Domestic and
international sources. The nature of debt. Corporate debentures and debenture stock, convertibles,
warrants. Bank loans and overdrafts. Retention and self-generated finance.

    Capital Structure, the Cost of Capital
Costs of individual types of finance. Weighted average cost of capital. Portfolio theory and the Capital
Asset Pricing Model. The cost of capital. Capital gearing. Capital structure theory and decisions.

    Working Capital Management
Working capital and its importance. Planning and control of cash and marketable securities, debtors,
current liabilities and stock. Future expansion and contraction.

    Capital Investment Appraisal
Payback, Net Present Value, Internal Rate of Return and their comparisons. Implications of taxation and
inflation. Capital rationing. Capital budgeting under uncertainty. Lease or buy decisions.

    Business Restructuring
Business expansion and financial growth. Sources of expansion and contraction. Restructuring strategies:
bids, acquisitions and mergers, capital reconstructions. Divestment: sell-offs, spin-offs, management
buyouts. Business failure, prediction and rescue packages.

    International Aspects
Multi-national operations. Managing exchange risk. The foreign investment decision. Financing overseas

   Three hour examination paper


Van Horne JC (2004)     Financial Management        Prentice Hall of India   New Delhi
                        and Policy (12th Edition)
Porton M (2007)         Corporate Financial         ICSAZ                    Harare

SYLLABI – PART D (Professional Programme II)


1. AIM
A core responsibility of the Chartered Secretary is as Secretary to the Board. The aim of the module is to
specify and assess the essential knowledge and skills involved in taking overall responsibility for the
corporate secretarial function in small, medium and large scale organizations. The practice of corporate
secretaryship in this module extends to both the strategic and functional contexts, in advising the Board, in
leading teams in secretarial best practice, in ensuring compliance with law and regulation, and in
establishing efficient internal communication of Board decisions and external reporting.

At the conclusion of this module, the candidate will be able to:
   Understand the scope, role and functions of corporate secretaryship and apply them within the
    employing or client organization.
   Understand the law and best practice in meetings, apply them in the secretaryship function, and ensure
    corporate compliance.
   Ensure effective communication and dissemination of information to and from the Board, both internally
    and externally, for the optimum benefit of the organization and its needs.
   Be aware of the ongoing responsibilities of the Secretary as an independent professional practictioner
    within the organization, and be responsible for continuing personnel development within the secretariat.
   Be aware of, and be responsible for continuing self development in corporate secretaryship as a
    professional practitioner.

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s required curriculum and standards:
   Corporate Law and Practice I
   General and Strategic Management


    The Secretary, the Board, and the Members.
The role of the secretary: functions and duties. Appointment and vacation of office. Relationship with
chairman and directors. The secretary as advisor to the chairman and the board.
Dissemination of information and decisions. Communication with shareholders and other stakeholders,
including electronic communications.
Types of Directors. Roles, duties, responsibilities and liabilities. Appointment, reappointment and rotation.
Removal, retirement and disqualification.

    Corporate Compliance
Company formation, memorandum and articles of association. Filing of company returns. Offences under
the Companies Acts. Company governance overview, including the Combined Code. The annual report.
Auditors: appointment and removal of the Auditor. The (UK) Listing Rules. Retention of records. Statutory

    Law and Practice of Meetings
Board meetings: composition, roles procedures (including frequency, notice, quorum, voting, agendas and
papers). Role of the company secretary before, during and after board meetings. Delegation of authority
and responsibility.

Types and purpose, composition. Matters reserved for the Board. Executive discretion. Cooption.

    General Meetings
Types (AGM, EGM). Class meetings, Regulations governing general meetings. Composition; role of
Chairman. Notice periods, quorum, agenda and papers. Resolutions. Standing orders, rules of order,
motions, amendment. Proxies. Attendance. Voting. Role of the company secretary before, during and
after general meetings. Resolutions in writing.

    Minutes and Minute Books

    Share Registration
Regulation of the securities industry. Types of share and loan capital. Markets and listing requirements.
The Company Registrar: principles and procedures in share and membership registration. Register of
members, including software applications. Technology based applications (CREST). Allotment of shares.
Share transfer: forms and registration procedures. Transmission of shares and registration of documents
affecting title. Membership in companies limited by guarantee. Issue of share certificates; lost certificates.
Indemnity, dividends and interest. Scrip and DRIP dividends. Stamp Duty and Stamp Duty Reserve tax.
Employee share schemes. New issues and takeovers. Purchase of own shares. Redemption of shares.
Rights issues. Capital events and the Registrar’s role in capital events.

    Three hour examination paper

Thomas L (2007)             Corporate Secertaryship      ICSAZ                       Harare
Van de Merwe JG             South African Corporate      Juta & Co Ltd               Cape Town
Appleton RB, Delport PA     Business Administration
Furney RW, Mahony DP
Koen M (2004)
Zimbabwe Government         Companies Act                Government Printers         Harare
Grant T ST J (1996)         A Guide to the Practice      ICSAZ                       Harare
                            and Procedures in the
                            companies Registration
                            Offices in Zimbabwe (2nd



1. AIM
Corporate Governance has emerged on the global agenda in pursuit of proper and efficient practice in the
administration of the business entity. The objective is probity in business activity, compliance with law and
regulation, and the securing of reputation and confidence towards the attraction of inward investment. The
Chartered Secretary is the key corporate player and the global Profession has emerged as a benchmark for
the development of best practice.

The aim of the module is to instil the knowledge and key skills necessary for the Chartered Secretary to act
as chief adviser to the Board on best practice in corporate governance, and as the catalyst for systematic
application in the major global forms of organization.

At the conclusion of this module, the candidate will be able to:
   Research and apply the growing global information sources on corporate governance.
   Promote awareness of, and be responsible for continuing self and personnel development on corporate
    governance themes.
   Promulgate corporate governance principles and best practice in the employing or client organization.
   Apply professional knowledge and skills to the resolution of practical issues and problems in the proper
    governance of the employing or client organization.
   Understand and apply the concepts of probity and ethical standards in governance.
   Understand and advise on the impact of corporate governance principles on the role of Directors, the
    Secretary, and the audit function.

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s required curriculum and standards:
   Corporate Law
   General and Strategic Management
   Financial Accounting
   Cost and Management Accounting

    The Definitions and Objectives of Corporate Governance
The corporate entity; legality, separation of ownership and operation. The concepts of ownership and
accountability, ethics and performance. The “enlightened shareholder and stakeholder” concepts. The
state as shareholder. Models of hierarchic and functional relationships in governance. One-tier and two-tier

The external and internal pressures for sound governance. History and ongoing developments in corporate
governance. The Reports: from Cadbury and King onwards; national and international sources. The
Combined Code. Corporate governance guidelines: OECD; the Commonwealth Association. The
governance agenda in the developing and developed economies. International networking.

    The Regulatory and Ethical Framework
The role of legislation and regulation in corporate governance. The nature and importance of compliance.
Compliance statements. The ethical dimension: codes and practices. The assessment of corporate
performance: yardsticks and measurement; corporate review, disclosure. Key concepts: inclusion;
openness; honesty, transparency; probity; accountability; judgement; social and environmental
    Sound Governance
The concept of best practice in governance: in companies, statutory corporations and trusts. Understanding
the distinct and separate roles, duties and responsibilities of corporate officers and stakeholders: chairman,
chief executive officer, directors, secretary and shareholders/members. Shareholders: majority control;
minority rights; the rights of members in guarantee companies. The importance of the proper mix of
appointments to the Board. Service contracts. Induction, orientation and training. Responsibilities of the
Board. Committees and their role. Audit, Remuneration, Nomination. Internal controls. Overall business
risk management and review. Internal structural relationships in the organization.

    The Secretary and Corporate Governance
The importance and special position of the secretary; the role in sound and effective governance.
Appointment and qualification. Control of corporate information and corporate reporting: the annual report;
the website. Communication with stakeholders. The “whistleblowing” concept: issues and problems,

Executive and non-executive directors. Chairman, Managing director. Shadow and alternate directors.
The concept of independent directors. Commonality of legal duty. Comparison of roles, needs, powers and
duties; appointment, reappointment and rotation, remuneration, removal, retirement and disqualification.
Directors’ liabilities, indemnity and insurance. Borrowing powers. Conflict and disclosure of interest. Share
dealing; model codes; insider dealing. Company records. Directors’ disclosures, service contracts and

The contribution of internal and external audit to sound governance. Audit reports and their use.
Appointment, removal. Independence and remuneration: rights, powers and duties in the governance

    Three hour examination paper

Coyle B (2004)              Corporate Governance          ICSAZ                     Harare

SYLLABI – PART D (Professional Programme II)

CORPORATE ADMINISTRATION (Professional Programme – Dec 2002 and onwards)

1. AIM
The Chartered Secretary is regularly employed in a position of strategic responsibility for administrative
operations within and across the organization. The aim of the module is to ounsel knowledge and key skills
in handling the responsibilities of corporate administration in both the strategic and functional contexts, to
develop competence in advising the Board and leading teams in administrative best practice, and in
ensuring compliance with external regulations and internal procedures.

At the conclusion of this module, the candidate will be able to:
   Understand the scope of strategic and functional administration and apply it within the employing or
    client organization.
   Access information sources and deliver knowledge and information internally to the optimum benefit of
    the organization and its needs.
   Evaluate the requirements of the legal and regulatory environment in corporate administration, advise
    the Board accordingly, and ensure compliance.
   Take responsibility for the administration of corporate knowledge and information, the human resource,
    pension schemes, insurance and risk, and physical corporate assets.
   Understand the impact of corporate taxation on administration and ensure taxation compliance within

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been
approved as meeting the Institute’s required curriculum and standards:

   General and Strategic Management
   Corporate Law and Practice I

    Role and Function
The role and functions of the corporate administrator. Administration as a support service in organistions.
The concept of best practice. The sources and application of guides to best practice.

    Knowledge and Information
The sources of information on law, regulation and administrative best practice. Copyright and intellectual
property, including asset protection. Trademarks and patents. Information, data and technology as a
corporate resource. Technological change and innovation: internet and website applications and
management. Security and integrity of information; control of access. Data protection legislation.

    The Human Resource
Employment law and regulations. The employment contract. Concepts of added value and continuous
improvement. Securing and monitoring the people resource: human resource planning, recruitment and
selection, job descriptions and person specifications. Maximising performance: job design, job enrichment;
reward and recognition systems; job evaluation. Training and development. Coaching and ounseling.
Performance appraisal. Working with consultants and volunteers. Health and safety at work: legislation
and practice.

    Pensions, Insurance and Risk
Pensions: their relevance and purposes. Scheme types – occupational state, personal. Stakeholder
pensions and group personal pensions. The management and proper control of pension schemes. The
impact of legislation. Funds and their management. Principles and practices of trusteeship; administrative
secretaryship support. The duties of trustees in law. Trust deed and rules.

The nature of corporate and business risks; management and control. Corporate liability and insurance:
classes and types. The insurance market; brokers and intermediaries. The use of consultants and
advisers. Disaster planning.

    Corporate Taxation
The impact of corporate taxation: Corporation Tax; Sales, Value Added or Goods and Services Taxes,
Income Tax. Corporate responsibilities under law and regulation.

    Corporate Assets

The management of physical assets. Facilities administration: role and functions. Security and the
application of systems

    Three hour examination paper

B Coyle (2007)             Corporate Administration ICSAZ                         Harare

It is the responsibility of students and not of the Institute to arrange study programmes. Enquiries maybe
made at the ICSA Office for advice in this regard. ICSA tuition can only be offered at Institutions
registered with the Ministry of Higher and Tertiary Education under the Manpower Planning and
Development Act. Currently the following colleges provide tuition:
Name of College                            Address                                   Tel No.

BES                                     4th Floor, Beverley Building              09-70970
                                        Cnr Fife St / 10th Ave
                                        P O Box 1301

CCOSA                                   P O Box 3488                              04-792721

Denmark Training Services               72 Kaguvi Street                          04-732279
                                        P O Box AC 987

University of Zimbabwe                  P O Box MP167                             04-303 211 Ext 1198
Dept of Accountancy                     Mount Pleasant

Face to Face                            77 Leopold Takawira Ave                   04-750312
                                        P O Box 159
                                        133 Herbert Chitepo St (cnr 9th Street)   020-63022

Foundation College                      84 Herbert Chitepo Street

Gweru Polytechnic College               P O Box 137                               054-3583

I.T.C.C.                                40 Livingston Avenue                      04-794582
                                        P O Box 149

Trust Academy                           P O Box CY 2201                           04-790990/88

Rapid Results College                   P O Box 2525                              04-705801

Speciss College                         P O Box 2713                              04-708494

Speciss College                         P O Box 3205                              09-62662

NUST (Night School)                     Dept of Accounting                        09-738981
                                        P O Box 346

Zimcolleges                             77 Second Streed                          04-748562
                                        P O Box 661272
                                        Kopje, Harare
                          IN ZIMBABWE

Office:                                 Dzidzo House
                                        Cnr Enterprise Road South/Londonderry Road

Postal Address:                         P O Box CY 172

Telephone:                              702170, 700555

Fax:                                    700624



Open Monday to Friday 9 am to 3:30 pm

Closed at Weekends and on Public Holidays

All correspondence should be addressed to the Chief Executive and Secretary


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