The main activities of the Education, Regulatory& Monitoring Oversight Unit are:
- To deliver independent and effective oversight over the constituent bodies regulatory obligations and promote prompt, robust and proportionate action in instances of non compliance.
- Monitor the manner in which constituent bodies perform the functions assigned to them in terms of the Act and the Institutional Accreditation Policy in relation to governance, sustainability, process for investigations and disciplinary processes, and at least once a year satisfy the Board that it continues to comply with the requirements for accreditation, which inter alia include that it has mechanisms to ensure that its members are disciplined where appropriate.
- To promote adherence to high standards of professional conduct by accountancy professionals
- Evaluate and monitor the standards of qualifying examinations, courses and training offered or set by constituent bodies.
- Liaising with other countries’ oversight bodies.
- The ongoing development of policies and procedures pertaining to learning and development and oversight over the profession.
- Monitor continuing education programmes offered by constituent bodies
- Assisting the Board to give specialist advice and support to the Minister and high quality information to our stakeholders on key auditing, accounting and taxation matters.
- To cooperate with other local, regional and international bodies regarding education requirements and licencing of accountancy professionals.
The PAAB’s Education mandate is to provide a framework for education and training of accountancy professionals who are registered by the Board for practice in Zimbabwe. [PAA Act Sec 5(1)(h-k); sec 42(1); Sec 44(2)(b-d)] PAAB also must make sure that the appropriate level of academic and professional education standards is maintained to safeguard public interest.
Full details of the PAAB’s ERMO functions can be found here (dropdown link with the info below)
International Education Standards (IES)
The International Education Standards are a comprehensive and integrated approach to Accountancy Education developed by International Accountancy Education Standards Board (IAESB) of the International Federation of Accountants (IFAC). PAAB is member of International Federation of Accountants (IFAC). As member of IFAC, PAAB supports the adoption and implementation the IES thus bringing quality of professional education to an internationally recognized benchmark. PAAB promotes the implementation and awareness of IESs among stakeholders, through its stakeholder engagement, through the promotion of IES as a set of high-quality, internationally accepted standards that establish accountancy education principles for life-long learning and assist stakeholders in understanding how the IES requirements should be incorporated to support the skills demanded of future professional accountants. Learn more about IES: https://education.ifac.org/index.html
Audit Development Programme (ADP)
The Audit Development Programme (ADP) is a period of specialization undertaken by professional accountants who want to be become Registered Auditors. It focused on the practical training aspects of candidates who has qualified under the constituent body exam, is registered public accountant, and is now operating at an audit executive level in view of starting own practice or who is earmarked to act as an audit partner or be able to sign audit opinions. The ADP opens up routes for professional accountant to acquire qualifications as a Registered Auditors. The PAAB currently recognizes Institute of Chartered Accountants of Zimbabwe (ICAZ), Association of Chartered Certified Accountants (ACCA), and the Institute of Certified Public Accountants of Zimbabwe (ICPAZ) to provide the ADP qualification. The ADP’s competence framework applies to individuals who want to re-enter public practise after a period of absence.
To register please click on the following below for the Application Form
Institutional Accreditation Policy of the Board
ACCREDITATION AS STATUTORY MECHANISM
1.1 The primary objective of the PAAB as established in terms of section 4 of the Public Accountants and Auditors Act Chapter 27:12 (the Act) is to protect the public interest through regulation of the accounting profession. In terms of section 5 (1) (f) of the Act, mandates the PAAB to take such steps as appear to the Board to be necessary or desirable to advance the standing and effectiveness of the accountancy profession in Zimbabwe. These objectives seek to advance the economic well-being by promoting investment and ultimately employment. The Act provides for various statutory mechanisms necessary to achieve these objectives, one of which is the accreditation of professional bodies.
1.2 The reputation, relevance and value of the accounting profession depend on the ability of its members to continually meet the expectations of stakeholders and provide a service appropriate to the needs of the Zimbabwean economy within the global context. The PAAB therefore has a duty to ensure that all general accountants, tax accountants, public accountants and public auditors:
- have the necessary professional competence on entering the accountancy profession to serve the public interest and the needs of the economy;
- further develop and maintain their professional competence after registration; and
- are subject to appropriate ethical requirements and are disciplined where appropriate.
1.3 Supporting the realisation of the PAAB’s objectives for the development, assessment and maintenance of the professional competence of the accountancy profession, demands more than high-quality education, training, assessment and continuing professional development (CPD) programmes. What is required is high-quality governance and management of these programmes by professional bodies devoted to providing relevant, effective and efficient services to members and other stakeholders.
1.4 For this reason, the accreditation of a PAO must address the institutional effectiveness and efficiency as well as the quality of programmes that develop and assess professional competence. It is therefore useful to distinguish between institutional and programme accreditation requirements.
Click on the following for the Institutional Accreditation Policy Document
PAAB is currently working on a Program Accreditation Policy
Minimum Body of Knowledge and Skills for Universities.
PAAB is currently working with ZIMCHE, Universities, PAOs and other stakeholders on a minimum body of knowledge and skills for Accountancy undergraduate programmes. According to its mandate the PAAB has to set “the criteria upon which the Board will recognise or withdraw recognition from educational qualifications or training programmes offered or to be offered in connection with the accountancy profession at any educational institutions or by any principal or associate constituent body or by any other body purporting to represent the accountancy profession;” PAA Act 44(2)(d). This will provide for acceptability of degrees offered by universities to PAOs, Industry, locally, regionally, and internationally.
How to Lodge a Complain?
Any member of the public, organisation, association may lodge a complaint against an individual registered with the Public Accountants and Auditors Board (PAAB) if they feel that the registered member is guilty of improper conduct. However, “each constituent body shall be responsible, in the first instance, for the professional conduct of its members who are registered persons and, for that purpose, each constituent body shall have power, in accordance with the enactment under which it is established or its constitution, as the case may be, to undertake disciplinary proceedings against such members and to punish them for breaches of the rules referred to in section thirty-three” PAA Act Section 34.
The PAAB Education and Professional Development Committee (EDCOM)
The EDCOM is established in terms of section 12 of the Public Accountants and Auditors Act [Chapter 27:12] to assist the Board in the performance of certain of its functions.
The EDCOM operates under the following Terms of Reference:
1.3.1 The duty to evaluate and monitor the standards of qualifying examinations, courses and training set or offered by constituent bodies [section 5(h)]
1.3.2 The duty to evaluate examinations and training courses of foreign institutions with a view to making recommendations to the constituent bodies [section 5(i)]
1.3.3 The duty to promote the standardization of qualifying examinations on common subjects [section 5(j)]
1.3.4 the duty to encourage education in connection with, and research into, any matter affecting the accountancy profession;
Composition of EDCOM
The EDCOM consists of not more than twelve (12) members and not less than six (6) appointed by the Board based on their expertise, experience and interest in the field of education, training and professional development of public accountants, public auditors, general accountants and tax accountants , and must include at least one practising academic.
|1.||Dr Tagarira Mutenga (Acting Chairman)|
|2.||Dr Onai Muvingi|
Insert Photo of Chairman
1.3 Delegation and assignment
The Board delegates and assigns the following general powers and duties to the EDCOM in terms of section:
1.3.2. the duty to formulate and recommend to the Board –
22.214.171.124 minimum requirements for recognition of professional bodies in addition to those provided for in the Act [section 21 (d) ];
126.96.36.199 requirements for and conditions relating to the nature and extent of continuing education, training and professional development
188.8.131.52 training requirements, including, but not limited to, the period of training and the form for training contracts;
184.108.40.206 the minimum qualifications, professional competency standards for registration of public accountants, public auditors, general accountants and tax accountants [section 44(2) (b)].
220.127.116.11 the particular competencies, qualifications, rights and privileges of persons registered as general accountants, tax accountants, public accountants and public auditors, in a manner not inconsistent with the statutory definitions of each of those classes of the accountancy profession [section 44 (2) (c).
18.104.22.168 the criteria upon which the Board will recognize or withdraw recognition from educational qualifications or training programmes offered or to be offered in connection with the accountancy at any educational institution or by any principal or associate constituent body [section 44 (2) (d)
22.214.171.124 the date by and the form in which, every year, an accredited a constituent body must satisfy the Board that it continues to comply with the requirements for recognition as prescribed.
1.3.3 the duty to consider and to make a recommendation to the Board on any application for Accreditation/recognition and on the granting of such accreditation/recognition in full or in part (principal constituent body/associate constituent body); [section 2(a)
1.3.4 the duty to recommend to the Board the termination of the accreditation/recognition of a constituent body in accordance with [ section 2 (b)];
1.3.5 the duty to recommend to the Board the recognition of, or the withdrawal of the recognition of, the educational qualifications or programmes or the continued education, training and professional development programmes in the accountancy profession of educational institutions and accredited professional bodies [section 44 (2) (d)].
1.3.6 the duty to recommend to the Board the recognition of, or the withdrawal of the recognition of, any accredited professional body to conduct any final qualifying examination contemplated in section 5(h) or conducting any such examination for the purposes of section 42;
1.3.7 the power to recommend to the Board, at its discretion, the establishment of mechanisms for registered public auditors, public accountants and general accountants to gain recognition of their qualifications and professional status in other countries.
1.3.8 the power to recommend to the Board, at its discretion, to enter into an agreement with any person or body of persons, within or outside the Zimbabwe, with regard to the recognition of examination or qualification for the purposes of the Act ;
1.3.9 the power to recommend to the Board, at its discretion, to give advice to, to render assistance to consult with or to interact with any organ of state, statutory body, educational institution, professional body or examining body with regard to educational facilities for and the education, training and professional development of accountancy professionals and prospective accountancy professionals;