Overview

About

The PAAB is a regulator of the Accountancy Profession in Zimbabwe established by the Public Accountants and Auditors Act Chapter 27:12 of 1995.  In order to protect the public interest and that of investors, the PAAB has oversight over the accountancy profession in Zimbabwe through setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them.

Our Remit

PAAB was established and operates though the provisions of the Public Accountants and Auditors Act[Chapter 27:12] A copy of the Act and other subsidiary legislation can be found here

PUBLIC ACCOUNTANTS AND AUDITORS AMENDMENT
STATUTORY INSTRUMENT 41 OF 2019

Functions of the Public Accountants and Auditors Board

• To consider and determine applications for registration and practising certificates by individuals and firms
• To maintain the register
• To define and enforce ethical practice and discipline among registered persons
• To encourage cooperation between constituent bodies in matters of common interest
• 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
• To represent the views of the accountancy profession on national, regional and international issues
• To evaluate and monitor the standards of qualifying examinations, courses and training set or offered by the constituent bodies
• To take such steps as appear to the Board to be necessary to provide for the manpower requirements of the accountancy profession in Zimbabwe
• To prescribe rules of professional conduct to be observed by registered persons.
• To prescribe auditing standards, accounting standards and accountancy reporting standards for use in Zimbabwe, including the application of internationally recognised auditing, accounting and reporting standards
• To prescribe the minimum qualifications, competency standards and requirements for registration for accountancy professionals
• To prescribe 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 institution or by constituent bodies
• To prescribe anything that may promote the integrity of the accountancy profession and the protection of consumers of services offered by accountancy professionals, including-

1. The conduct of audit quality monitoring, practice reviews and inspections
2. The monitoring of compliance with applicable standards prescribed by the Board.

In support of our mission, we also conduct economic research and risk analysis, engage with our stakeholders and other domestic and international regulators, and manage a talented workforce and the technology and resources we need to perform our duties.

The PAAB has 8 Constituent Bodies of which 5 are Principal Constituent Bodies and 3 are Associate Constituent Bodies.  Principal Constituent Bodies consist of the following :

• the Zimbabwe branch of the Chartered Association of Certified Accountants incorporated by Royal Charter in the United Kingdom (ACCA);
• the Zimbabwe branch of the Chartered Institute of Management Accountants incorporated by Royal Charter in the United Kingdom (CIMA);
• the Institute of Chartered Accountants of Zimbabwe established by the Chartered Accountants Act [Chapter27:02] (ICAZ);
• the Institute of Chartered Secretaries and Administrators in Zimbabwe established by the Chartered Secretaries (Private) Act [Chapter 27:03] (ICSAZ);
• the Institute of Certified Public Accountants of Zimbabwe, a locally incorporated company limited by guarantee (ICPAZ).

Associate Constituent Bodies consist of the following:

• the Institute of Certified Tax Accountants of Zimbabwe, a locally incorporated company limited by guarantee (ICTAZ);
• the Southern Africa Association of Accountants, a locally incorporated company limited by guarantee (SAAA);
• the Institute of Administration and Commerce of Zimbabwe, a locally incorporated company limited by guarantee.

The PAAB currently regulates 80 Firms who are registered for 2021/2022.