ZIMBABWE’S gold-backed currency, the ZiG, has brought relief to accountants burdened by reporting challenges stemming from years of high inflation and exchange rate volatility.
This positive development was highlighted at the Institute of Chartered Accountants of Zimbabwe’s Winter School last week.
The relief comes after reporting companies consistently received adverse audit opinions since 2019, following Harare’s controversial conversion of US dollar balances to the Zimdollar at a 1:1 rate, contrary to international accounting standards.