If gold rusts…

THE Public Accountants and Auditors Board (PAAB), the country’s accounting profession regulator, is in the eye of a storm amid revelations that its executive secretary Admire Ndurunduru has overstayed his tenure in violation of corporate governance legislation.

 According to section 17 of the Public Entities Corporate Governance Act, an individual can be appointed chief executive officer for a maximum of 10 years.

 However, Ndurunduru has been executive secretary of PAAB since 2012, meaning he has been holding the position for 12 years.

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