The National Board of Accountants and Auditors (NBAA) is an accounting professional and regulatory body operating under the Ministry of Finance and Economic Affairs, the sole body to certify accountants in Tanzania.
It began operating on 15 January 1973.[1]
Accounting standards
All non-government business entities in Tanzania have been required to use International Financial Reporting Standards (IFRS) since 2004, while until May 2010 government business entities were required to use International Public Sector Accounting Standards. As of May 2010, the NBAA clarified that some government-owned entities was now required to use full IFRS and others were allowed to use IFRS for SMEs. When using the IFRS standards, the entities had to use them in full and without modification from the form issued by the International Accounting Standards Board (IASB).[2]
Professional qualifications
The NBAA is an examining body for professional accountancy qualifications, but does not train candidates seeking to qualify as accountants. Instead, it works with various public and private training institutions.[3]