ZIMBABWE TAKES CHARGE OF ACCOUNTING BODY
Zimbabwe was last week elected chair of the African Forum of Independent Accounting and Auditing Regulators (AFIAAR), which is geared towards driving independent audit regulation and improving audit quality on the continent.
The election was conducted during the organisation’s inaugural meeting in Victoria Falls.
The thrust of AFIAAR is to enhance consistency between countries on audit quality and independent regulation, while creating opportunities for countries to collaborate with one another in areas such as inspections and investigations to improve results and efficiency in protecting the public.
Zimbabwe will be represented by Admire Ndurunduru, the secretary for Public Accountants and Auditors Board (PAAB).
South Africa was elected vice-chair, represented by Bernard Agulhas, who is chief executive officer of the Independent Regulatory Board for Auditors (IRBA), and Ethiopia was elected as third officer and represented by Gashe Desta Yemane, the director-general of the Accounting and Auditing Board of Ethiopia.
In his inaugural speech after being elected to the chairmanship, Ndurunduru said he would enhance transparency and accountability among the member states through collaborative efforts.
“Through greater collaboration and working together, we can grow our economy. Through working together, we can impact our countries through enhancing transparency accountability and foster investment in our various jurisdictions.
As office bearers, we will be calling upon members for ideas thought processes on how to progress. The action plan that we need to deliver on as well as regulate the auditing and accounting profession across the continent also influence development regionally and internationally in the area of accounting and auditing,” he said.
AFIAAR’s 11 founding members are Zimbabwe, Botswana, Ethiopia, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Tanzania, South Africa and Zambia.
The event was co-hosted by PAAB Zimbabwe and the IRBA of South Africa.
Also Read: Lockdown fines revised upwardsMembers of the public who violate lockdown regulations now risk paying a spot fine of $5 000 while those found guilty of deliberately transmitting HIV can pay up to $1,6 million. Fines have been reviewed upwards with immediate effect. Level 14 offences, the highest level of offences, now attract a fine of $1,6 million up from $800 000 and include crimes such as concealing treason, deliberately transmitting...learn more