Premium

Questions over accountants’ boss' credentials

THE Public Accounts and Auditors Board (PAAB) has been rocked by revelations that its chairperson did not possess professional accounting qualifications from the Institute of Certified Public Accountants in Zimbabwe (CPA Zimbabwe).

PAAB is a statutory body that operates through the provisions of the Public Accountants and Auditors Act.

It is the regulatory body for the accountancy profession in Zimbabwe.

It is responsible for endorsing and adopting international accounting standards, defining and enforcing ethical practice and discipline among registered public accountants and public auditors.

A person shall be qualified for appointment to the Board if they are a qualified Public Auditor or Public Accountant.

Keep Reading

Membership of the Board consists of members appointed by the constituent bodies in terms of Section 6 of the PAA Act.

Reliable sources alleged that the chairperson, Valentine Mushayakarara, was appointed to the board without recommendation from any public auditor or accountant. and mandatory qualifications from CPA Zimbabwe.

“The institute is called CPA Zimbabwe and his transcripts are not there as he did not sit for the exams,” sources said.

“The required three modules to be certified are Advanced Corporate reporting, Strategic corporate finance and audit practice and Assurance services.”

Mashayakarara yesterday requested questions in writing when contacted for comment.

He was no longer answering his mobile phone despite repeated efforts.

PAAB secretary Admire Ndurunduru said he could not confirm the matter without verifying Mashayakarara’s records

“Thank you for the enquiry. Registration with the PAAB is done in terms of section 22 of the Public Accountants and Auditors Act,” he said.

“Let me check the records and get back to you.”

Mushayakarara, sources, added got his qualifications in the United States, which are not recognised by the PAAB.

Public Accounts and Auditors Board (PAAB)