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The Government of the Republic of Zambia (GRZ) established the Zambia Centre for Accountancy Studies (ZCAS) through an Act of Parliament (ZCAS Act No. 1 of 1989) for the purpose of training accountants, promoting research and advancement of learning in accountancy, finance and related studies, providing advisory and consultancy services, and for related matters.
Initially, ZCAS received donor support from the European Union, NORAD and DANIDA. For the last twenty-seven (27) years however, ZCAS has been fully self-supporting and reliant on the income received from its training and consulting services. Despite being a public institution, ZCAS has managed to sustain its operations independently. This is an excellent record which is indictive of the caliber of the Board, Management and staff of ZCAS.
In 2016, ZCAS incorporated a subsidiary, the ZCAS University as a Special Purpose Vehicle to enable it to develop, deliver and award academic degrees according to the provisions of the Higher Education Act (No. 4 of 2013). The University was initially operated as parallel structure within the ZCAS Act.
By the close 2021, the ZCAS Act and ZCAS University operating structure had successfully been separated allowing the university to operate independently as a private limited company.
The ZCAS Board of Director is responsible for and committed to independent oversight of the operations and affairs of ZCAS. These include financial management, strategy and risk management.
In carrying out these responsibilities, the Board provides guidance to the ZCAS Management team; and to through the Council to the management team of ZCAS University.
The ZCAS University Council serves the role of strategic stewardship over the University as prescribed by the Higher Education Act (No. 4 of 2013). Principal Officers in the university, including the Vice Chancellor, Deputy Vice Chancellor, Registrar and Chief Financial Officer, attend to the day-to-day management of the university.