ZICA Acts After Fraud



Yande says, Mwenye says staff terminations and administrative changes follow discovery

By Francis Maingaila

Lusaka, Zambia24 – (18-11-2025)  --- The Zambia Institute of Chartered Accountants (ZICA) has taken decisive action after uncovering a K2.2 million fraud involving a staff member, reinforcing its commitment to ethical governance and internal controls.

According to ZICA President Mrs. Yande Siame Mwenye, the fraudulent activity, which occurred between January 2022 and September 2025, was discovered through the institute’s newly established internal audit processes. 

She said the engagement of an internal auditor was “timely and necessary” in detecting the irregularities.

Mr. Joe Nsokolo, the institute’s Management Accountant, has been arrested, and the matter is now before the courts. The council has also terminated his employment and separated the Director of Finance as part of administrative measures to safeguard the institution.

Mrs. Mwenye added that ZICA is fully cooperating with law enforcement agencies and has conducted internal investigations and governance reviews to prevent future incidents. 

She urged members to report any suspected unethical practices through the institute’s whistleblowing channels and reaffirmed ZICA’s commitment to protecting members’ interests and maintaining confidence in the profession.

The institute confirmed it will not comment further on the specifics of the case to avoid prejudicing ongoing legal proceedings. The incident highlights the importance of vigilance, strong internal controls, and ethical compliance in professional institutions.

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