Our Mandate
Understanding PAAB's legal mandate and functions under the Public Accountants and Auditors Act.
Our Mandate
Understanding PAAB's role in regulating the accountancy profession and protecting public interest in Zimbabwe.
Protecting Public Interest
The primary objective of the PAAB, as established in terms of Section 4 of the Public Accountants and Auditors Act [Chapter 27:12], is to protect the public interest through regulation of the accounting profession.
In terms of Section 5(1)(f) of the Act, PAAB is mandated 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.
Our Mission
To promote transparency and integrity in business and to protect the financial interests of the people of Zimbabwe and that of other persons with interest in the Zimbabwean economy through effective regulation of the accountancy profession in accordance with internationally recognised standards.
Core Functions of PAAB
As defined in the Public Accountants and Auditors Act [Chapter 27:12]
Registration & Certification
To consider and determine applications for registration and practising certificates by individuals and firms seeking to practice as accountants or auditors in Zimbabwe.
Maintain the Register
To maintain comprehensive registers of all public accountants, public auditors, general accountants, and tax accountants in Zimbabwe.
Ethics & Discipline
To define and enforce ethical practice and discipline among registered persons, ensuring the highest standards of professional conduct.
Standards Setting
To prescribe auditing standards, accounting standards and accountancy reporting standards for use in Zimbabwe, including internationally recognised standards.
Education Oversight
To evaluate and monitor the standards of qualifying examinations, courses and training set or offered by the constituent bodies.
Practice Reviews & Inspections
To conduct audit quality monitoring, practice reviews and inspections to ensure compliance with applicable standards.
Constituent Body Cooperation
To encourage cooperation between constituent bodies in matters of common interest affecting the accountancy profession.
Professional Representation
To represent the views of the accountancy profession on national, regional and international issues affecting the profession.
Standards Authority
PAAB has statutory authority to prescribe:
- Auditing standards
- Accounting standards (IFRS)
- Public sector standards (IPSAS)
- Reporting standards
- Ethical requirements
Education Mandate
PAAB's education responsibilities include:
- Setting minimum qualifications
- Competency standards
- Training programme accreditation
- CPD requirements
- IES implementation
Disciplinary Powers
PAAB has authority to:
- Investigate complaints
- Conduct disciplinary hearings
- Impose sanctions
- Suspend or revoke certificates
- Remove from register
PAAB's Duty to the Profession
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.
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
Further develop and maintain their professional competence after registration
Are subject to appropriate ethical requirements and disciplined where appropriate
International Affiliations
PAAB works with international bodies to ensure Zimbabwe's accountancy profession meets global standards.
IFAC Member
International Federation of Accountants - The global organization for the accountancy profession.
PAFA Member
Pan African Federation of Accountants - Representing the African accountancy profession.
IFRS Adoption
PAAB has adopted all IFRS standards issued by the International Accounting Standards Board.
Have Questions About Our Mandate?
Contact us to learn more about how PAAB regulates the accountancy profession in Zimbabwe.