List of audit firms in Zambia

For the complete updated list of audit firms in Zambia, this post will explain how the audit works and how much auditing cost. We have many local and international audit companies in Zambia which can solve your financial accounting disparities.

Image credit: HLB accounting solutions

Zambia has several audit firms, ranging from local firms to branches of international networks. Here is a list of some notable audit firms operating in Zambia:

International Audit Firms

1. Deloitte & Touche

   • Head Office: Abacus Square, Thabo Mbeki Road, Lusaka.
   • Services: Audit, tax, consulting, and advisory services.

2. Ernst & Young (EY)

   • Location: EY Place, Alick Nkhata Road, Lusaka.
   • Offers a range of assurance and advisory services.

3. PwC (PricewaterhouseCoopers)

   • One of the Big Four audit firms with a presence in Zambia, offering audit, tax, and consulting solutions.

4. KPMG

   • Provides auditing, advisory, and tax services, with a focus on large corporate clients.

Local and Regional Audit Firms

5. ECD and Associates

   • Locations: Lusaka and Chipata.
   • Known for auditing and advisory services tailored to local businesses​
     
     

6. Reeds Business Solutions

   • Based in Lusaka, specializes in audit and tax compliance for various organizations​
     
     

7. Edgware Chartered Accountants

   • Located in New Kasama, Lusaka. Focuses on business consultancy and auditing​
     
     

8. Tax Man Solutions

   • Based in Lusaka, this firm caters to individuals and businesses needing audit and tax services​
     
     

9. Tom Banda & Associates

   • Address: Anchor House, Cairo Road, Lusaka. Offers professional auditing services​
     
     

10. Minja & Company

    • Operates from Ndola and specializes in various auditing and accounting services​
      
      

These firms are regulated by the Zambia Institute of Chartered Accountants (ZICA), which maintains high professional standards. For a comprehensive list, you can visit ZICA's official directory of registered firms

How much do audit services cost in Zambia

The cost of audit services in Zambia varies depending on the size of the firm, complexity of the audit, and regulatory guidelines. Here are some key points:

1. Hourly Rates (Regulated):
   Audit fees in Zambia are regulated under Statutory Instrument No. 34 of 2018. Hourly rates are based on professional rank and are expressed in fee units, with one fee unit equaling K0.30. For example:

   • Managing Partner: Approximately K13,334 per hour (4,000 fee units)
   • Partner: K11,112 per hour (3,334 fee units)
   • Audit Assistant: K4,862 per hour (1,456 fee units)​

2. Bidding-Based Costs for Institutions:
   Organizations typically tender for audit services, with bids including both quality and cost-based evaluations. Examples include Zambia Daily Mail's tender for statutory audits, which required a non-refundable application fee of K1,000​

3. Corporate Rates for Large Firms:
   Large audit firms such as Deloitte, PwC, and KPMG usually charge higher fees tailored to corporate clients. These services are often more expensive due to the detailed requirements for compliance and reporting​

4. Customized Services for NGOs and SMEs:
   Smaller entities often negotiate lower rates with medium-sized audit firms or local professionals, sometimes starting from K20,000–K50,000 annually, depending on their audit scope.

list of  colleges offering accounting courses in Zambia

Here is a list of universities and colleges offering accounting courses in Zambia:

Public Universities

1. University of Zambia (UNZA) - Lusaka
   Offers a Bachelor of Science in Accounting and Finance. It includes exemptions from ACCA foundational levels and provides options for full-time and evening studies​

2. Copperbelt University (CBU) - Kitwe
   Provides undergraduate and master's programs in Accounting and Finance, focusing on advanced topics like financial management and international accounting standards​

3. Mulungushi University - Kabwe
   Accredited by ACCA and CIMA, the Bachelor of Accounting and Finance program prepares students for professional exams at advanced levels​

4. Kwame Nkrumah University - Kabwe
   Offers a Bachelor of Accountancy with modules on management accounting, auditing, and financial management​

Private Universities

5. Cavendish University Zambia - Lusaka
   Offers a Bachelor of Accounting and Finance, emphasizing practical skills and theoretical knowledge in accounting and auditing​

6. Zambia Centre for Accountancy Studies (ZCAS) - Lusaka
   Provides degree and diploma courses in Accountancy, including ACCA, CIMA, and ZICA pathways. It collaborates with international bodies to offer globally recognized certifications​

7. University of Lusaka (UNILUS) - Lusaka
   Offers various accounting programs, including Bachelor of Accountancy, available in full-time, part-time, and distance-learning formats​

8. Twin Palm Leadership University - Lusaka
   Offers advanced diploma-to-degree progression for those with prior qualifications in accounting​

Specialized Institutions

9. Zambia Institute of Chartered Accountants (ZICA) - Lusaka
   Focuses on professional certification programs like CA Zambia, offering pathways to international accreditation.

10. Victoria Falls University of Technology - Livingstone
    Provides a Bachelor of Accountancy program with a strong emphasis on integrating IT with financial principles​

These institutions provide a range of programs suitable for aspiring accountants, from undergraduate degrees to professional qualifications. Many programs are also accredited by bodies like ACCA and CIMA, enabling students to pursue global certifications.