National Board of Accountants and Auditors

BACKGROUND

  • The National Board of Accountants and Auditors (NBAA) is a regulatory body of the accountancy profession in Tanzania.
  • The Board is established under the Auditors and Accountants (Registration) Act No.33 of 1972 as amended by the Auditors and Accountants (Registration) (Amendment) Act No.2 of 1995. CAP 286 (R.E. 2002)
  • It operates under the Ministry responsible for Finance.

FUNCTIONS

Section 4 of the NBAA Main Act, CAP 286 (R.E. 2002)

  • To maintain a register of Certified Public Accountants, Certified Public Accountants in Public Practice and practicing firms (S. 7 of the Main Act-Maintain the Register of Members)
  • To consider and decide upon applications for registration and to effect registration of practicing accountants, accountants and practicing firms (Membership Committee-Categories- Ss.10,11,12,13,14 and 15 of the Main Act, Membership (Registration) Bylaws, 2017 and Practicing Bylaws, 2017)
  • To regulate the activities and conduct of the Accountants (CPAs), Auditors (CPA-PPs) – (IESBA)International Ethics Standards Board for Accountants Code of Ethics and Third Schedule of Registration Bylaws)
  • To evaluate foreign accountancy qualifications for exemptions (Exams and Registration Bylaws)
  • To formulate the Appropriate National Accountancy Scheme and syllabi (NBAA Examination Scheme- Syllabus)
  • To evaluate local accountancy qualifications for exemptions (Accreditation Policy)
  • To carry out such other functions after consultation with the Minister (pre-budget proposals etc.)

RESTRICTION OF EMPLOYMENT OF ACCOUNTANTS

  • Section 29 of the main Act restrict any person to employ or continue to employ as an accountant any person who is not a Certified Public Accountant or Graduate Accountant.
  • The same Section also restricts any person to take up or continue in any employment as an accountant unless he is a Certified Public Accountant or Graduate Accountant.

REGISTRATION OF FOREIGN ACCOUNTANTS/AUDITORS

Clause 9 of the Accountants and Auditors (Registration) By-Laws, 2017 stipulates requirements for registration of foreign accountants/auditors as TEMPORARY MEMBERS

 “Temporary member” means a person who is not a citizen of the United Republic of Tanzania; and who qualifies to be registered by the Board as such and has met the conditions stipulated for that registration.

 

Requirements for registration of foreign accountants/auditors

  1. Subject to Section 15 of the Act, a person eligible for temporary registration as a Certified Public Accountant or as the case may be Certified Public Accountant in Public Practice shall
    (a) in the case of temporary registration by a person who is a foreigner, make application for registration with the Board in a Form A1as prescribed in the First Schedule;
    (b) in the case of temporary registration by any other person other than a foreigner, make application for temporary registration to the Board in the manner provided under regulation 4.
  2.  A duly completed application form referred to under sub- regulation (1) shall be accompanied with
    • certified copies of relevant certificates issued by a professional accountancy body of equivalent standing existing outside Tanzania;
    • name and address of employer to act as a referee;
    • proof of employment with a local employer;
    • two recent passport size photographs of the applicant;
    • proof of payment of the prescribed non-refundable application fees as prescribed in the Third Schedule
  3. Every person applying for registration under sub-regulation (1) (a) shall
    • be required to sign an undertaking that upon registration, that person shall observe the provisions of the Act, By-Laws, Regulations and other Pronouncement in force;
    • not use the designation or designatory letters before being registered or after ceasing to be a registered;
    • undertake to fully comply with the code of ethics and conduct issued by the Board;
    • proof that he has passed two conversion papers in local taxation and company law and on such other terms as the Board may, from time to time, determine
  4. The Board shall, upon consideration of the application under this regulation, grant a successful applicant with a temporary registration certificate for certified public accountant, or as the case may be, certified public accountant in public practice

REGISTRATION OF AUDIT FIRMS

Clause 11(2) of the Accountants and Auditors (Practicing) By-Laws, 2017 stipulates requirements for registration of audit firm.

“Where the partnership involves foreign partners, the local equity partners shall constitute at least fifty one percent, and in any case, the majority of partners shall be the local partners”.

For more information, please visit: http://www.nbaa.go.tz/