MANDATORY FUNCTIONS

By authority of the establishing Act [The Accountants and Auditors (Registration) Act (CAP 286.R.E. 2002)] as provided under section 4, the National Board of Accountants and Auditors (NBAA) has the following mandate;

1. To promote and provide opportunities and facilities for the study of, and for the training in, accountancy, auditing and allied subjects;

2. To conduct examinations and to grant diplomas, certificates and other awards of the Board in accountancy, auditing and allied subjects;

3. To sponsor, arrange and provide facilities for conferences, seminars, discussions and consultations on matters relating to accountancy and allied subjects;

4. To arrange for the publication and general dissemination of materials produced in connection with the work and activities of the Board;

5. To stipulate accountancy or auditing standards and guidelines as appropriate and to ensure the compliance of the standards and guidelines by the subjects;

6. To maintain a register of Certified Public Accountants in Public Practice, Certified Public Accountants, Graduate Accountants, Accounting Technicians and practising firms;

7. To consider and decide upon applications for registration and to effect registration of practising accountants, accountants, Accounting Technicians and practising firms;

8. To regulate the activities and conduct of Certified Public Accountants in Public Practice, Certified Public Accountants, Graduate Accountants, Accounting Technicians and practising firms;

9. To evaluate foreign accountancy qualifications for exemption from parts of the Board’s examinations;

10. To formulate the appropriate National Accountancy Scheme and syllabi and oversee that Accountancy syllabi in training institutions throughout the country are in accordance with the National Accountancy Scheme and syllabi;

11. To evaluate internal institutional accountancy qualifications for exemption from part of the Board’s examination; and

12. To carry out such other functions after consultation with the Minister.

The above mandatory functions of the Board can be summarized as:

1. Registration

2. Regulation

3. Development of Accountancy Profession

4. Standards Setting

5. Carrying out such other functions after consultation with the Minister.