PUBLIC Accountants and Auditors Board (PAAB) chief executive and secretary Admire Ndurunduru is in potential statutory breach for allegedly overstaying the legally mandated term limit at the public entity, NewsDay has learnt.
PAAB is a regulatory and oversight body responsible for defining and enforcing ethical practice and discipline among registered public accountants and auditors.
Ndurunduru was appointed secretary of the board in October 2012 and has extended his term twice.
According to section 17 of the Public Entities Corporate Governance Act, no one appointed chief executive officer of a public entity can exceed a term of five years unless it is extended by one more term.
Ndurunduru reportedly renewed two five-year terms and has now gone beyond the mandated 10 years.
Sources close to the board said Ndurunduru’s extension of tenure had raised serious questions about the board’s adherence to the law.
“The implications of this oversight extend beyond the legality of the CEO [chief executive officer]’s tenure. It casts a shadow over the board’s governance practices and raises concern about its ability to effectively regulate the industry. A regulatory body operating outside the confines of the law undermines public trust and confidence,” they said.
“Urgent action is required to address this anomaly and restore public faith in PAAB. An independent investigation into the matter is necessary to determine the full extent of the breach and to hold those responsible accountable.”
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Contacted for a comment, Ndurunduru referred NewsDay to the board.
PAAB board chairperson Valentine Mushayakarara last week requested questions in writing but had not responded as of yesterday.
