CHAPTER 286 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT . [PRINCIPAL LEGISLATION] OAG Arrangement of Sections of ion iss Section Title erm t p part i ou ith PRELIMINARY PROVISIONS w ted 1. Short title. ibutr 2. Interpretation. di s d o r part ii ceu THE BOARD rod ep 3. Establishment of Board. be r 4. Functions of Board. y ma 5. Immunity of members. k oo 6. Appointment of Executive Director. b is 7. Disclosure of information. th rt o f pa . N o part iii ed REGISTRATION rv 8. Registration of mermesb eers. 9. Publication of R igh etsgister and list. 10. Publication lol rf list prima facie evidence of registration. 11–15. Repealedia.. A 16. Tempzoa nrary registration as certified public accountant or auditor. n 17. Rf eTpaealed. t o en part iv ern m v CONTROL OVER CONDUCT OF REGISTERED Go AUDITORS AND ACCOUNTANTS 25 20 18. Power to cancel registration. © 19. Issuance of, and procedure of obtaining certificate of practice. 20. Issuance of, and procedure of obtaining, certificate of clearance. 21. Restoration to register. 22. Powers to suspend registration, etc. 467 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] 23. Proceedings at inquiry. 24. Disobedience of summons and refusal to give evidence. part v APPEALS G. 25. Establishment of Accountants and Auditors Appeals Board. A f O 26. Appeals Against decisions of Board. n o siois part vi rm pe EFFECT OF REGISTRATION AND CONSEQUENCES OF t ou NON-REGISTRATION ith w 27. Use of certain styles and titles. ted 28. Offences relating to use of styles and titles. trib u is 29. Practice review of audit firm. r d o 30. Restriction on practice as certified public accountant in pcueb dlic practice or certified public accountant. u od 31. Restriction on employment of accountants. pr re 32. Compulsory employment of certified public acc boeuntant in public practice. aym 33. Submission of audited financial statemen otosk. 34. Board may review financial statement b iss and reports. 35. Monitoring of registered member o. f th 36. Provisions relating to income pta rxt returns. 37. Repealed. o . N 38. Repealed. edv 39. No prosecution fore o r seffences under Part VI. s rt igh ll r part vii ACTIV. AITIES OF THE BOARD AND FINANCIAL PROVISIONS ia 40. Boardza m n ay delegate its functions. n 41. Af Tccaounts and audit. 42. t on Chairman’s report. e n4m3. Funds of Board. er ov 44. Power to invest. 5 G 45. Annual performance report. 022 46. Financial year. © 47. Minister may give directions. 468 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] part viii GENERAL PROVISIONS 48. Offences. 49. Compounding of offences. 50. Consent of Director of Public Prosecutions. AG. 51. Regulations. O of 52. By-laws. n io 53. Proceedings of Board not to be invalid by reason of irregularity. issm 54. General offence. er t p 55. Repeal. ou with SCHEDULE d ibu te stri r d ed o du c rep ro e ay b k m oo is b th rt o f o p a N ed . ervs re igh ts r . A ll an ia nz Ta nt of me ve rn o 5 G 02 ©2 469 CHAPTER 286 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT AG. O An Act to provide for the establishment of a National Board of Accountants of and Auditors, the conduct of professional examinations in accountancsyi on is and auditing, the registration of accountants and auditors an rm pde for related matters. ut tho [15th dJawn i uary, 1973] [GuNte. No. 7 of 1973] Acts Nos. trib 33 of 1972 di s 2 of 1995 or 7 of 2021 ce d u pro d e r e PAaRy bT I m PRELIMINboAo kRY PROVISIONS th is Short title 1. This Act may bre f t o cited as the Accountants and Auditors (Registration) Aoc tp. a d. N Interpretation 2.–(1) In tshrivsee Act, unless the context otherwise requires- Acts Nos. re 2 of 1995 s. 2 “accoutns tancy” means a practice in which a professional 7 of 2021 a crigl chountant provides the measurement, recognition, ss. 2 and 3 l a. Apreparation, analysis or disclosure of financial and relevant ni za non-financial information, or auditing of or provision of an f T assurance and advisory services on financial information nt o e and, where applicable, non-financial information and rnm preparing and analysing tax information; ov e G “accountant” means a person registered with the Board as 5 02 a certified public accountant to perform accountancy ©2 functions; “accounting technician” means a person registered by the Board as such and having met the conditions stipulated for that registration; 470 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] “annual gross turnover or gross revenue” means the volume of business transacted by a business entity or organisation in a year measured in sales or revenue; “Appeals Board” means the Appeals Board referred to in . section 25; OAG “assets” includes property or right owned by a business of n entity that has money values whether it be tangible io iossr intangible, movable or immovable property; ermp “audit firm” means an institution registered as suchu tb o y the Board to provide audit services to a private or pu wbi tlhic entity; d “auditor” means a person registered as a cbeur tetified public accountant in public practice, holding tri dais valid practising certificate issued under this Act tdo o rperform auditing functions; ce du “Board” means the National Boparoe rd of Accountants and Auditors established by sectieo rn 3; “certified public accountant” amy b m eans a person registered as a certified public accou k bno otant; “certified public accotuhi ns tant in academics” means a person registered as sucrth o f pursuant to section 8; “certified publico p aaccountant in public practice” means a person regdi. N e stered as such under section 8; “Executiv rv see Director” means the Chief Executive of the Board appots r e h inted under section 6; “firlm g l ri” means a body of registered certified public ia. Aaccountant carrying on business for fee, reward or other za n n monetary consideration in the United Republic whether Ta of incorporated or unincorporated; nt e “graduate accountant” means a person who has successfully m ern completed the professional examination as recognised v G o by the Board but lacks the working experience to qualify 5 20 2 for registration as certified public accountant or certified © public accountant in public practice; “member” in relation to- (a) the Board, means a member appointed pursuant to the First Schedule; 471 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (b) a registered member, means a member registered by the Board in accordance with section 8; and (c) the Appeals Board, means a member appointed under section 25; . “Minister” means the Minister responsible for the G OA accountancy profession; of n “register” means a register of members and firms maintainiessd io by the Board in accordance with section 8; pe rm “registered accountant” means an accountant whosoeu t name is for the time being entered on the Register ofit h w certified d public accountants; bu te “registered auditor” means an auditor w tri dhisose name is for the time being entered on the Registde or r of certified public accountants in public practice. e du c “registered member” means a persepo ron registered in any of the categories specified under s ebec tr ion 8 of this Act; “reporting entity” means ay man entity that prepares or is required to prepare finoao k b ncial statement; “public interest entity t” ism h eans a reporting entity with unique characteristics arts o s f hall be prescribed by the Board; “standards” inclou pd aes financial reporting standards, auditing standards, .e Ned thical standards, educational standards and any oth rv se r standards issued by the Board; e “tuitiohn r ts provider” means an institution accredited and rlle rig g istered by the Board to conduct review classes for a. A i candidates preparing to sit for the National Board of an nz Accountants and Auditors (Tanzania) examinations. Ta of en t PART II m ve rn THE BOARD o 5 G 02 ©2 Establishment of 3.–(1) There is hereby established a Board to be known as the Board National Board of Accountants and Auditors. (2) The Board shall- (a) be a body corporate with perpetual succession and a common seal; 472 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (b) in its corporate name, be capable of suing and being sued; and (c) for and in connection with the purposes of this Act, be capable of acquiring, holding and disposing of movable . and immovable property in its corporate name. OAG (3) The provisions of the Schedule to this Act shall have f ion o effect as to the constitution and proceedings of the Board anissd otherwise in relation to the Board. ermp (4) The Minister may, by order published in the t oGu azette, amend, add to, vary or revoke and replace the provisiioth w ns of the d Schedule to this Act. te trib u is Functions of 4. Subject to the provisions of this Act arn do d any regulations Board Acts Nos. made hereunder, the functions of the Bucoea drd shall be- 2 of 1995 s. 3 (a) to promote and provide opprop dortunities and facilities 7 of 2022 s. 4 for the study of, and for et hr e b e training in, accountancy, auditing and allied subajym e cts; (b) to conduct examink oo ations and to grant diplomas, certificates anhdis b other awards of the Board in t accountancyrt, oa f uditing and allied subjects; (c) to sponos po ar, arrange and provide facilities for conferde. n Nces, seminars, discussions and consultations ons emr veatters relating to accountancy and allied subjects; (d) t orets arrange for the publication and general dissemination l ri gh of materials produced in connection with the work and Al ia. activities of the Board; n za (e) to stipulate accountancy or auditing standards and Tan f guidelines as appropriate and to ensure the compliance t o en of the standards and guidelines by the subjects; ern m (f) to maintain a register of registered members; ov G (g) to consider and decide upon applications for 02 5 registration and to effect registration of practising ©2 accountants, accountants, accounting technicians and practising firms; (h) to regulate the activities and conduct of registered members; 473 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (i) to evaluate foreign accountancy qualifications for exemption from parts of the Board’s examination; (j) to formulate the appropriate National Accountancy Scheme and syllabi and oversee that accountancy . syllabi in training institutions throughout the country AG O are in accordance with the National Accountancy of n Scheme and syllabi; iss io (k) to supervise and regulate accountancy tra rm piening conducted by the tuition providers; ut o (l) to conduct audit quality review of accountancyith w services; d (m) to foster collaboration between the Bo te buard and other institutions dealing with accountancdyis tsriervices; (n) to evaluate internal instituti or d nal accountancy qualifications for exemption fruocmed parts of the Board’s examination; and proe (o) to carry out such othe rb ef runctions after consultation with the Minister. ay k m oo Immunity of 5. A member of the Bohaisr db shall not be personally liable for any members t act or default of the f r tB ooard done or omitted in good faith in the course of carryin gpao out the responsibilities and functions of, or exercising thed .p Nowers conferred upon, the Board. e se rv Appointment 6.–(1) S e su r bject to subsection (2), the Minister shall appoint the of Executive Director Exec ht ruigtive Director of the Board on such terms and conditions l Acts Nos. as l a. Ahe may determine. 2 of 1995 s. 2 ni 7 of 2021 s. 5 za (2) A person shall be eligible to be appointed as Executive n Ta Director, if he- f nt o (a) is a holder of at least master degree in accounting, me rn finance, management or economics; veo (b) has an accountancy professional qualifications obtained G 02 5 from a recognised institution; ©2 (c) is registered by the Board as a certified public accountant or certified public accountant in public practice; and (d) has at least ten years work experience out of which, eight years being in managerial position. 474 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (3) The Executive Director shall be responsible to the Board for the administration and management of the functions and affairs of the Board. . Disclosure of 7.–(1) A person who is or has been- AG information Act No. (a) an employee of or a consultant employed by the Board; or of O 7 of 2021 s. 6 (b) a member of the Board or committee established undesrio n s this Act, i erm shall not disclose any information relating to the affai t orus pof the Board or of any other person which he has obtai nweithd during the performance of his duties or the exercise of d u the is functions under this Act, unless such disclosure is mad ib ister- (i) with the written authorisation o ro df the person from whom the information wausc eo dbtained; (ii) in accordance with thisr oAdp ct or any other written law; or e r e b (iii) in compliance wmitah y an order of the court. (2) A person who is or oh okas been- (a) an employee of ohris ab consultant employed by the Board; or (b) a member of tohf t rt e Board or of any committee established under thi a os p Act, shall not, for dh. i Ns own personal benefit or benefit of any other person, msaekr vee use of any information which has been obtained by him re t si n the performance of his duties or the exercise of his func rtigl ihons. Al ia. (3) For the purposes of this section, “disclosure or making n za use of any information” includes permitting any other person an f T to have access to any information relating to the affairs of the t o en Board. m ern (4) A person who contravenes this section commits an ov G offence and on conviction, shall be liable to a fine of not less 250 than two million shillings but not exceeding five million ©2 shillings or to imprisonment for a term of not less than one year but not exceeding three years or to both. [s. 6A] 475 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] PART III REGISTRATION Registration of 8.–(1) Subject to the provisions of subsection (2), a person . members Act No. shall upon- G O A 2 of 1995 s. 4 (a) payment of prescribed fee to the Board; n o f 7 of 2021 s. 7 o (b) making an application to the Board in the prescrib i iessd manner; and erm t p (c) meeting relevant qualification requirements thsop uecified pursuant to this Act, d w i be entitled to be registered under this Act andrib h uteave his name entered in the Register as- ist r d (i) a graduate accountant or ine dt ho e acronym “GA”; (ii) a certified public accoundtuo acnt in public practice or in the acronym “CPA r- r ePp P”; (iii) a certified public ya bc ecountant or in the acronym “CPA”; ma k (iv) a certified p o buoblic accountant in academics; (v) an auditof trh i sfor public interest entity; (vi) a pracartti osing firm; (vii) an N ao cpcounting technician or in the acronym “AT”; (viiir)v . ead temporary certified public accountant or in the e s r es acronym “TCPA”; gh t(ix) a temporary certified public accountant in public l riAl practice or in the acronym “TCPA-PP”; . nia (x) an honorary member; za an (xi) a retired member; or f T t o (xii) any other category of members as may be n me determined by the Board. ve rn (2) For the purpose of subsection (1), the Board shall, by o 5 G by-laws published in the Gazette, specify conditions and 02 ©2 qualifications necessary for registration of each category under subsection (1). (3) Notwithstanding the provisions of subsection (1), accountants and auditors who were recognised and registered as such prior to 15th January, 1972 shall, unless disqualified 476 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] for any other reason under this Act, continue to be members registered under this section. (4) A person registered under this section shall be issued with a certificate of registration. . (5) A person who does not qualify for registration under G OA subsection (1) but who is an accounting or auditing personnel of n and has not completed relevant studies to qualify for registratioisns i,o shall have a title in accordance with the prescription of titplee rms as shall be issued by the Executive Director. ut o (6) The Executive Director shall keep and maintainit w ha register d of registered members and firms in which shalblu b tee entered all categories of persons registered under this se ri disc ttion. d o r [s. 7] uc e d Publication of 9.–(1) The Executive Director shalplr ocause to be published in Register and list Acts Nos. the Gazette, as soon as may be pr re baecticable after registration, the 2 of 1995 s. 5 name, address and qualificatmio ayns of each registered members 7 of 2021 s. 2 and subject to the directioon ks o of the Board, may cause to be so published any amendmhies nbt to or deletion from the register. t (2) The Executivrt eo f Director shall cause to be published in the Gazette, as soo po an as may conveniently be after the first day of January in N de. ach year, a list containing the names, addresses and qualifisecr vaetions of all registered members remaining on the register arets t the close of the previous year together with the list of plr raigc htising firms. . A l ia [s. 8] n za Publication o Tf a n 10.–(1) A publication under the provisions of section 9 shall list primat ofa fcie evidencen of be prima facie evidence that the persons named therein are e regirsntmration registered under this Act, and the deletion from the register Acet No. Gov7 of 2021 s. 8 of the name of any person notified by such publication shall 02 5 be prima facie evidence that, that person is not so registered. ©2 (2) The registers, lists and all copies or extracts which purport to have been certified under the hand of the Executive Director shall be receivable in all courts and tribunals or other 477 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] bodies authorised to receive evidence as prima facie evidence of the facts stated therein. [s. 9] Repealed 11–15. [Repealed by Act No. 7 of 2021 s. 9.] AG. [ss.10-14] of O ion s Temporary 16.–(1) Where a person satisfies the Board- mis registration as erp certified public (a) that he is not ordinary resident public in Muati nland accountant or Tanzania; ith o auditor Act No. (b) that he is or intends to be present in Mainltaedn wd Tanzania 2 of 1995 s. 12 in the capacity of a professionally qua ibu sltirfied accountant or auditor for the express purposoer doi f carrying out a specific assignment for which chede has been engaged; and rod u (c) that he is, or, immediatel p ey r eprior to entering Mainland Tanzania, was practisinyg ba or employed as an accountant or auditor in such ak mo capacity as to satisfy the Board of his fitness to o i ss berve the public as a certified public accountant o ro f athuditor, t the Board may, if piat r thinks fit, direct that, such person shall be registered undeNrod. this section as a certified public accountant or, a certifieervd e public accountant in public practice either for a periosd r ens ot exceeding one year or for the duration of any speciigfih r ct assignment. A(ll. 2) An application for registration under this section shall be in ia za nthe prescribed form, accompanied by the prescribed fee, and the n Ta Board may require an applicant to appear before it for the purposes of nt of considering his application and shall require every applicant rnm e to produce documentary evidence of his work or employment e Gov immediately prior to his entering Mainland Tanzania. 02 5 (3) Registration of a person under this section shall continue ©2 only for the period or for the duration of the assignment as is directed by the Board under subsection (1) and on its termination such person shall cease to be so registered; and in 478 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] case of doubt the decision of the Board as to the termination of the assignment shall be conclusive. (4) A person registered under this section shall, in relation to the period or the duration of the assignment as is directed . by the Board under subsection (1) and to things done and AG O omitted in the course of such assignment, be treated as being f n o duly registered under this Act as an authorised accountant o i issr, o an authorised auditor but in relation to other matters shpael rml be treated as not so registered. ut o with [s. 15] d ute Repealed 17. [Repealed by Act No. 2 of 1995 s. 8.] trib r d is o [s. 16] ce d u PART IVrod ep CONTROL OVER COND r y b Ue CT OF REGISTERED AUDITORS AN mDa ACCOUNTANTS ok bo Power to cancel 18.–(1) The Board mathyis , direct that the name of a registered registration of Acts Nos. members be deleteardt from the classification where the person 2 of 1995 s. 9 or firm has- o p 7 of 2021 s. 2 N (a) failede dw . ithin a period of six months from the date of an eer v es nquiry sent by the Executive Director by registered r htsletter to the address appearing in the register against his ll r ig name, to notify the Executive Director of his current A nia . address; a nz (b) requested that his name be deleted from the register, Ta of in which case the person may be required to satisfy the nte Board by affidavit lodged with the Executive Director m ve rn that no criminal proceedings or proceedings under o 5 G section 22 or 23 are being or are likely to be taken 2 20 against him; or © (c) been found by the Board to be guilty of such misconduct as is specified in section 22. (2) The Executive Director shall delete from the register the name of every deceased person. 479 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (3) The Executive Director shall rectify or delete any entry in any register which has been incorrectly or fraudulently made or procured. (4) Except in the circumstances specified in paragraph (a) . of subsection (1) and in subsection (2), every deletion from AG O a register, transfer to another register or reclassification of n o f registration shall be notified by the Executive Director istso io the person concerned by a registered letter to the adderp rmess appearing in the register against his name immediateoluy t prior to such deletion, transfer or reclassification, as the c awsithe may be. d (5) Subject to the provisions of section 21, ab up teerson whose name has been deleted from a register undedri st trhi is section shall cease from the date of such deletion to b oer d registered for the purposes of this Act. ce du pro [s. 17] re be Issuance of, 19.–(1) Notwithstanding thmea y other provisions of this Act, and procedure of obtaining no person shall, whethe k oro incorporated or unincorporated, certificate of practise as an accounhtias nb t or auditor unless he applies and practice t Acts Nos. obtains a certificate off rt practice from the Board. 2 of 1995 s.10 (2) The certoifi pc aate issued pursuant to this section and 7 of 2021 s. 10 section 20 shad.l Nl be valid for a period of three years and may, upon appliecrv e s ation in the prescribed manner and upon payment of fees p e hts rrescribed by the Board, be renewed. g All r i [s. 18] a. Issuance of, anz 2i 0.–(1) A firm other than a firm issued with a certificate of and procedurea n of obtaining, T clearance shall not carry on business as auditors or accountants f certificatnet o of whether corporate or incorporate. clearanece Actr m Nn o. (2) The Executive Director shall issue a certificate of clearance 2v oeo f 1995 s. 10 to a firm that applies for that certificate after ascertaining- 5 G 02 (a) the registration status of the members or partners of ©2 that firm; (b) the manpower capabilities of the firm; and (c) the classification in which the members or partners of the firm are registered 480 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (3) The certificate of clearance issued under subsection (2) shall state the classification of the registration of members and partners of the firm. (4) Where a person under subsection (1) applies in a . prescribed manner for a certificate of practice and after paying OAG a prescribed fee, the Board may issue a certificate of practice n o f to that person. siois [ rm t p se. 19] ou Restoration to 21.–(1) Where the name of any person or firm ithh as been register w Act No. deleted from a register under section 18, the utne dame of that 2 of 1995 s.11 person or firm shall not be again entered in thteribis register except by direction of the Board. r d o (2) Where the name of any person o d ucre firm has been deleted from a register, transferred from onero rdp egister to another or the registration relating to him hasb e breeen re-classified, or where the effect of the registrationm o ayf any person or firm has been suspended in the terms ofo soe k ction 22(d), the Board may, either on its own motion or so bhi n the application in the prescribed t manner of the persoonf rt or firm concerned, and in either case after holding suc a o hp inquiry as the Board may deem fit, direct that- N d. (a) the rve se deletion, transfer or re-classification be confirmed; (b) tst hr ee name of that person or firm be restored to the rig h l register; Al ia. (c) the re-classification be cancelled; or za n (d) the suspension of the effect of the registration of that Tan f person or firm be terminated. nt o e (3) A direction given by the Board under subsection (2) may m ern include provisions for the date upon which restoration to the ov G register, cancellation of the re-classification or the termination 02 5 of suspension of the effect of registration shall take effect and ©2 for the payment by the person or firm concerned of such fee, not exceeding the fee payable on an application for registration, as the Board may determine. [s. 20] 481 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] Powers to 22. Where any registered member is convicted of any offence suspend registration, etc. against this Act or is, after due inquiry held by the Board, Acts Nos. found to have been guilty of any act or omission amounting to 2 of 1995 s.12 7 of 2021 s. 11 improper disgraceful or gross, negligent professional conduct, . the Board may- AG O (a) caution or censure such registered member; n o f (b) direct that his name be transferred to another registe io isrs; (c) direct that his name be transferred to a pleo rmwer classification in a register; ut o (d) direct that, during such period as the Board miath w y specify, d the registration of his name shall not habvue te effect; or (e) direct that his name be deleted fromdis ttrhi e register, and any Certificate of Practice or any othore d r certificate issued to him by the Board under sect ce diuon 19 or 20 be returned to the Board for cancellatio ro re np. be [s. 21] y ma Proceedings at 23.–(1) Upon any inquir k oyo held by the Board under section inquiry Act No. 22, the person or firmh iws bhose conduct is being inquired into t 2 of 1995 s. 13 shall be entitled to rta op f pear and to be heard in person or by a legal representati vpao e of the firm but shall not be entitled to be represented bdy. Nan advocate. (2) Fors etrh vee purposes of proceedings at any inquiry held by it, the B e hts o rard shall have power- (la ri)g to administer oaths; . A l ia (b) to summon persons to attend and give evidence; and n za (c) to order the production of documents. Tan f (3) All summonses and orders issued under the hand of the nt o e Chairman or the Vice-Chairman of the Board shall be deemed rnme to be issued by the Board. ov G (4) The Chairman, or in his absence, the Vice-Chairman, 5 20 2 shall record or cause to be recorded a summary of any oral © evidence given at an inquiry held by the Board. (5) Subject to the provisions of this section and of any regulations made under section 51, the Board shall have power to regulate its own procedure at an inquiry held by it. 482 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] Cap. 16 (6) For the purpose of Chapter XI of the Penal Code, an inquiry held by the Board shall be deemed to be judicial proceedings. [s. 22] . AG Disobedience of 24. A person who, having been served with a summons or f Oo summons and refusal to give an order issued under the provisions of section 23, refuses o io ssr n evidence omits without sufficient cause to attend at the time and prlma ice Act No. e 2 of 1995 s. 14 mentioned in the summons, or refuses without sufficientt pou cause to answer fully and satisfactorily to the best of his wkit h nowledge and belief all questions put to him by or with thuete c doncurrence of the Board, or refuses or omits without siustffir ibcient cause to produce any document in his possession or do under his control which is specified in the order, commed ucits an offence and on conviction shall be liable to a fine nporot d exceeding two hundred thousand shillings: e r e b Provided that, every permsao yn giving evidence before the Board shall, in respect of k o oany evidence given by him or any document produced bhy b is him, be entitled to all privileges to t which he would be e rt no ftitled as a witness before the High Court. pao [s. 23] N d. rve res e PART V hts APPEALS g All r i Establishment of 2ia5. .–(1) There is hereby established an appeals board to be Accountants and an Auditors Appeaanls z known as the Accountants and Auditors Appeals Board which Board f T shall consist of- Act No. nt o 7 of 202e1 s. 12 (a) a Chairman who shall be appointed by the President rnme from amongst retired judges or any person with ov G qualifications which may warrant such person to be 02 5 2 appointed as a judge; and © (b) six other members appointed by the Minister as follows: (i) a law officer representing the Attorney General, who shall be the Vice-Chairman; (ii) one senior member from the Ministry responsible for finance; 483 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (iii) one senior member from the Bank of Tanzania; (iv) one senior member representing higher learning institutions; and (v) two members from association representative of . all accountancy professionals or private sector. G OA (2) The Accountants and Auditors Appeals Board shall have n o f power to regulate its own proceedings. io iss [ r pse. m24] t ou Appeals 26.–(1) A person or firm aggrieved by a decision of wtih the Board- Against decisions of Board (a) to refuse to register his name; tedu Acts Nos. (b) to delete his name from a register; tribs 2 of 1995 s. 15 i 7 of 2021 s. 13 (c) to transfer his name from one registr ed o r to another; (d) to reclassify his registration; d uc e (e) to refuse to enter his name ipnro dthe register or under the classification applied for; e r e b (f) to refuse to restore hims any ame to the register; (g) to suspend the effeocot k of registration of his name; (h) to refuse to enhtise br the firm’s name in the register of t practicing fi rrt mo f s; or (i) to suspen dpao the effect of registration of the firm in the registedr. , N may appeaelrv e s to the Appeals Board against the decision of the Board tas nr ed in any such appeal the Appeals Board may give such igdhl r irections in the matter as it thinks proper. l ia. A(2) The Board may appear as respondent and be heard on za nany appeal against its decision and, for the purposes of enabling an f T directions to be given as to the costs of any such appeal, the nt o e Board shall be deemed to be a party thereto, whether or not it m ern shall appear at the hearing of the appeal. Gov (3) The Attorney General may make rules regulating appeals 250 to the Appeals Board under this section and providing for the ©2 taking of further evidence, the fees to be paid, the procedure to be followed and the manner of notifying the Board of an appeal, and until any such rules are made, and subject to any Cap. 33 such rules when made, the provisions of the Civil Procedure Code, shall apply as if the decision or direction of the Board 484 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] were a decree of a court exercising original jurisdiction and as if the Appeals Board were the High Court. (4) The Appeals Board shall, for the purposes of an appeal under this section, have all the powers which the High Court . has in the exercise of its appellate jurisdiction in civil matters. OAG [s. 25] f ion o iss PART VI erm t p EFFECT OF REGISTRATION AND ou ith CONSEQUENCES OF NON-REGISTRAdT wION ibu te r Use of certain 27. A person who is registered under this Adisc tt shall, in so far styles and titles r Acts Nos. as his name remains in the register, be enedt iotled to adopt and to 2 of 1995 s. 17 use the style and title specified under dsue cction 8. 7 of 2021 s. 14 ro re p [s. 26] be Offences relating 28. A person who- aym to use of styles and titles (a) not being a registereokbo d member or firm, falsely pretends Acts Nos. to be a register ethd is member or firm; 2 of 1995 s. 18 f 7 of 2021 s. 15 (b) not being a pret oa rson entitled to use any style or title referred to in secNtoio pn 27, uses such style or title or uses any other namee, d .s tyle, title or description, implying, whether in v itsesee lfr or in the circumstances in which it is used, that s urht ch person is entitled to use such style or title; (c ri)gll not being a certified public accountant in public ia. A n practice, holds himself out, whether directly or by nz a implication, to be a certified public accountant in Ta of public practice; t en (d) not being a certified public accountant in public ern m v practice or a certified public accountant, holds himself o 5 G out, whether directly or by implication, to be a certified 20 2 public accountant in public practice; © (e) not being a certified public accountant in public practice, certified public accountant or graduate accountant holds himself out, whether directly or by implication, to be a graduate accountant; 485 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (f) being a graduate accountant or an accountant technician holds himself out whether directly or by implication to be a certified public accountant in public practice or a certified public accountant; . (g) not being a firm issued with a certificate of clearance, OAG holds himself out, whether directly or by implication as n o f having a certificate of clearance; or iss io (h) not having at least one member or partner rm peas a registered certified public accountant in public opu tr actice or certified public accountant, th d w i commits an offence and on conviction, shall bebu l teiable- (i) in the case of an individual persdosn trii , to a fine of not less than five million shillingosr d but not exceeding ten million shillings or dtuo ce imprisonment for a term not exceeding twopr oe years or to both; and (ii) in the case of a pr r abectising firm, to a fine of not less than five m mil alyion shillings or ten percent of the firm’s gr ok boss audit fee, whichever is greater, provided t isa t the amount charged shall not exceed thirty m oif th rt llion shillings. o p a [s. 27] N d. Practice review of 29.–(1) Foserr vtehe purpose of enhancing audit quality, the Board audit firm may revi reeAct No. ts w the practice of any audit firm and for that purpose, h 7 of 2021 s. 16 the lB rigoard may- . A l ia (a) inspect any relevant document in the possession or za n under the control of the audit firm, make copies of or Tan f take any abstract of or extract from any document; and nt o e (b) seek information or clarification from the audit firm. ern m (2) An audit firm shall, at the request of the Board, produce ov G any relevant document in its possession or under its control 250 for the purposes of subsection (1). ©2 (3) Where the Board is satisfied that upon audit conducted the audited report does not meet the required standards, the Board may- (a) order the audit firm to pay a fine of not less than five million shillings or ten percent of the firm’s gross audit 486 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] fee, whichever is greater, provided that, the amount charged shall not exceed thirty million shillings; or (b) impose sanctions prescribed under section 22. [s. 27A] G. A Restriction 30.–(1) A person other than a certified public accountant or a O of on practice as certified public certified public accountant in public practice shall not carry ossni o n accountant in businesses as an accountant or, an auditor. i ermpublic practice or t p certified public (2) For the purposes of this section a person shall beo dueemed accountant to be carrying on the business of an accountant or aitnh w auditor Acts Nos. 2 of 1995 s. 19 if he, for a fee, reward or any other material cteodu nsideration 7 of 2021 s. 17 whatsoever, renders to another person in Tan ib isztrania, services as an accountant or an auditor: or d Provided that, a person shall be deemed uc ed not to be carrying on business of an accountant or anp arou dditor if he renders such services to his employer by wh e beo rm he is employed under a contract of service on a full-tmim ay e basis. (3) It shall be unlawf k ouol for a body of persons, whether corporate or unincorsp bhi orated, to carry on business as t accountants or certifiofe rt d public accountant in public practice: Provided tha a o tp, where the majority of the partners, shareholders o.r Nd members, of such body of persons are certified public acc rve seountants in public practice, the remaining being certifietd res public accountants, then the body of persons may lawfl u h riglly carry on business as auditors. l ia. A(4) Where a shareholder, partner or member of a body za nof persons, whether corporate or unincorporated, carrying Tan f on business as auditors or accountants dies, such body of nt o e persons may, notwithstanding the provisions of subsection m ern (3), continue to carry on the business until such time as the v G o administration of the estate of the deceased is completed, as if 250 such legal representatives were certified public accountants or, ©2 authorised auditors. (5) This Act shall not be construed as entitling any body of persons, whether corporate or unincorporated, to be registered as, or as empowering the Executive Director to register any 487 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] body of persons as, certified public accountant in public practice or certified public accountants. (6) A person who contravenes the provisions of this section commits an offence and on conviction shall be liable- (a) in the case of an individual person, to a fine not AG. O exceeding ten million shillings or to imprisonment for n o f a term not exceeding two years or to both; and io iss (b) in the case of a practising firm, to a fine of nopte rmless than ten million shillings or ten percent of thoue t firm’s gross audit fee, whichever is greater, proviitdh w ed that, d the amount charged shall not exceed btuw teenty million shillings. str i i r d ed o [s. 28] uc Restriction on 31.–(1) A person shall not employ opro c dontinue to employ as an employment of accountants auditor any person who is not a c erebe rtified public accountant in Acts Nos. public practice. ay 2 of 1995 s. 20 m 7 of 2021 s. 18 (2) A person shall not eomk o ploy or continue to employ as an accountant any personh w b is ho is not- t (a) a certified prut ob f lic accountant; or (b) a graduatoe p aaccountant. (3) A perso N dn. shall not take up or continue in any employment as an audisteorr ve unless he is a certified public accountant in public practictes .r e (4i)g hl r A person shall not take up or continue in any employment l aas. i Aan accountant unless he is a certified public accountant, or n za graduate accountant. an f T (5) A person shall not take or continue in any employment nt o e as an accounting technician unless he is an accounting ern m technician. v G o (6) A person who contravenes the provisions of this section 250 commits an offence and on conviction shall be liable- ©2 (a) in the case of an individual person, to a fine not exceeding ten million shillings or to imprisonment for a term not exceeding two years or to both; and (b) in the case of a practising firm, to a fine of not less than ten million shillings or ten percent of the firm’s 488 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] gross audit fee, whichever is greater, provided that, the amount charged shall not exceed thirty million shillings. (7) In this section “employ” means employ under a contract . of service or under a contract for services and “employment” AG O shall be construed accordingly. n o f (8) Where an employer employs any person as a trainisese io accountant for the purpose of affording such employpeee rm an opportunity of being trained as an accountant, thiso us t ection shall not apply to such employer or such employee w iin th relation d to the employee’s employment for the period ofb tuw teelve months immediately following the employment odri s tarippointment of such employee in or to the office of a traidn oe r e accountant: Provided that, no person who, ha ce dvuing been employed by one employer as a trainee accounetpa ront, shall be employed by or take up employment with anoet r b her or subsequent employer as a trainee accountant sav me a yfor a period representing the difference between twelbvoe ok months and the period or the aggregate of periods duisr th ing which he was employed as such by his previous emprtl oo fyer or employers, and any contravention of the provisionso op af this proviso shall be an offence against this section and bede . Npunishable in accordance with the provisions of subsectsieor vn (6). e (9) htThs r e provisions of this section shall extend to every empll rlio g yment as an accountant or auditor in the service of the Ua.n A i ited Republic, but shall not extend to the employment by an nz the Government or any other person or body of persons, or of Ta the Controller and Auditor General. nt e [s. 29] rnm ve G oCompulsory 32.–(1) Every body of persons, whether corporate or 25 employment of 0 certified public unincorporated, engaged in the United Republic in any trade, ©2 accountant in business or profession, which has- public practice Acts Nos. (a) assets in the United Republic, the value of which 2 of 1995 s. 21 exceeds seven hundred million shillings; or 7 of 2021 s. 19 (b) an annual gross turnover in the United Republic exceeding five hundred million shillings, 489 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] shall employ at least one certified public accountant or one certified public accountant in public practice. (2) Without prejudice to the provisions of subsection (1) of this section, every body of persons, whether corporate or . unincorporated, engaged in the United Republic in any trade, G f O A business or profession, which has- n o (a) assets in the United Republic the value of which is leissss io than three hundred million shillings; or pe rm (b) an annual gross turnover in the United Republoicu t which is less than one hundred and fifty million sh wili tlhings, d shall keep proper books of accounts. uteb (3) Any body of persons which contravednise trsi the provisions of this section commits an offence and o r dn o conviction shall be liable to a fine not exceeding fifty milldiuo cne shillings. ro ep [s. 30] e rb Submission of 33.–(1) Financial statementsm p ayrepared under this Act shall be audited financial audited by a certified publick statements oo accountant in public practice. Act No. (2) Every auditor shhaisl bl, within thirty days from the date of 7 of 2021 s. 20 t completion of the rr f t eop ort, submit to the Board the auditor’s audited financialo sp atatements and annual report. (3) For thde. Npurpose of subsection (2), the Board shall establish a rve s de atabase for keeping the audited financial statements submitttse rd e under this section. (l4 ri)g hAn auditor shall be responsible and accountable for l fian. A i ancial statements audited and submitted by him to the n za Board under this section. n f T a (5) A person who contravenes the requirements of this nt o e section commits an offence and on conviction, shall be liable m ern to a fine of not less than five million shillings but not exceeding ov G ten million shillings or ten percent of the firm’s gross audit fee, 5 02 whichever is greater, provided that, the amount charged shall ©2 not exceed thirty million shillings. (6) For the purpose of this section, “auditor” includes an audit firm. [s. 30A] 490 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] Board may 34.–(1) The Board may, on its own motion or upon request review financial statements and by any user of the audited financial statements, review the reports audited financial statements and reports of a reporting entity Act No. 7 of 2021 s. 20 submitted under section 33. . (2) For the purpose of subsection (1), the Board may require AG O production of further information or clarification from- of n (a) any officer or director of a public interest entity or othesriois entities; and ermp (b) any auditor or audit firm responsible for the auut o dit of the financial statements of that entity. ith d w (3) A person who refuses to produce furtheurteb information under this section, commits an offence and on tcridis onviction, shall be liable to a fine not exceeding twenty md oi rl lion shillings or to imprisonment for a term not exceedindg e uc two years or to both. proe [s. 30B] e rb Monitoring 35.–(1) For the purpose ofm ey a nsuring compliance with the of registered member provisions of this Act, the k o oBo ard shall monitor the conduct of Act No. any registered memberi sa bnd, for that purpose, the Board may 7 of 2021 s. 20 th seek information orrt co fl arification from the registered member. (2) A registereod p amember who refuses to provide information or clarificatiodn. Nsought under this section commits an offence and on coners vveiction, shall be liable to a fine not exceeding five millionts s rh e illings or to imprisonment for a term not exceeding twol ryige hars or to both. l a. A i [s. 30C] anz Provisions n Ta 36.–(1) A person shall not submit his income tax return to the relating to oinf come tax returnts appropriate authority unless such return has been prepared by e Actrsn Nmos. a certified public accountant or audited by a certified public 2v oef 1995 s. 22 o7 of 2021 s. 21 accountant in public practice. 5 G 02 (2) The provisions of subsection (1) shall not apply to an ©2 individual- (a) the whole of whose income is derived from employment; or (b) the whole of whose gross annual income is less than five million shillings. 491 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (3) For the purposes of subsection (1)- “appropriate authority” means the public officer to whom income tax return is required to be submitted under the Cap. 332 Income Tax Act; . “income tax” means the tax payable under the Income AG O Cap. 332 Tax Act; of “income” and “gross income” shall mean income or, grosssio n is Cap. 332 income as defined in the Income Tax Act, but accrupee rdm in or derived from the United Republic. t ou (4) Every audited financial statement of a body w ic thorporate d required to be submitted to any public offiuctb eer or public Cap. 212 authority under the Companies Act or any ottridis her written law shall be certified by a certified public a corc ountant in public practice. ce d du (5) A person who contravenes anpre yo of the provisions of this section commits an offence and oe nr b conviction, shall be liable- (a) in the case of an indi vmiadyual person, to a fine of not less than five million shoiol k b lings but not exceeding ten million shillings or to imis th prisonment for a term not exceeding two years orrt too f both; and; (b) in the caos pe a of a practising firm, to a fine of not less than etde .n N million shillings or ten percent of the firm’s grosesrs v audit fee, whichever is greater, provided that, e htst hr e amount charged shall not exceed thirty million l ri g l shillings. A ia. [s. 31] za n n Repealed f T a 37. [Repealed by Act No. 2 of 1995 s. 23.] t o men [s. 32] ern oRvepealed 38. [Repealed by Act No. 2 of 1995 s. 24.] G 02 5 [s. 33] ©2 No prosecution 39.–(1) A person shall not be prosecuted for any offence for offences under Part VI under this Part where such offence is committed within the period of twelve months immediately succeeding the date of commencement of this Act. 492 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (2) The Minister may, by order in the Gazette, extend the period of twelve months provided for in subsection (1) by such further period as he may specify in such order. [s. 34] AG. PART VII f O on o ACTIVITIES OF THE BOARD AND i miss FINANCIAL PROVISIONS er ut p ith o Board may 40.–(1) The Board may delegate its functions undedr w this Act to delegate its ute functions any officer or committee of the Board. trib Act No. (2) Notwithstanding subsection (1), thedi sr Board shall not 7 of 2021 s. 22 delegate its powers to- o ed (a) invest, prescribe fees, charges a u odndc commissions, borrow or lend money; and r re p (b) issue final examination e y b results, save for provisional results. ma k oo b [s. 35] is f th Accounts and 41.–(1) The Boardrt oa shall keep proper books of account, audit and shall prepaor pActs Nos. N e the annual financial statements for the 2 of 1995 s. 26 immediate perde . ceding financial year not later than the 30th day 7 of 2021 s. 23 v of Septemer esber in the following financial year in accordance with thhtes rprescribed accounting standards issued by the Board. (ll2 ri) g The annual financial statements shall be audited by the . A nCia ontroller and Auditor-General or an auditor appointed by nz a the Controller and Auditor-General. f T a o (3) The Board shall, as soon as possible after receiving the en t audited report from the Controller and Auditor-General, rnm ve submit to the Minister the audited financial statements. o 5 G [s. 36] 02 ©2 Chairman’s report 42. The Chairman shall, at the end of each financial year, Act No. 2 of 1995 s. 26 prepare a report of the activities of the Board during that financial year and submit such report to the Minister. [s. 37] 493 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] Funds of Board 43. The funds and resources of the Board shall consist of- (a) such sums as may be provided for the purposes of the Board by Parliament, either by way of grant or loan; (b) such sums as the Board may receive by way of grant or . loan from any person or organisation; AG O (c) such sums as the Board may, with the consent of the of n Minister, borrow for the purposes of the Board; and siois (d) such sums as may, in any manner, become paya rm pbele to or vested in the Board either under the proviosui to ns of this Act or any other written law, or incide wni tthal to the d carrying out of its functions. ute str ib [s. 38] r d i d o Power to invest 44. The Board shall have power to inucveest its funds in such Cap. 53 investments as are authorised by, andpr sou d bject to such conditions as are prescribed by, the Trusteeb Ien revestments Act in relation to investments of funds by a trus atyee. k m oo [s. 39] his b Annual 45.–(1) The Board s t ohf all prepare and submit to the Minister performance t report within four mon tpha rs after the close of each financial year the o Acts Nos. annual report o. Nd n the performance of the Board for the previous 2 of 1995 s. 27 7 of 2021 s. 24 financial yeeravr e. (2) Th ree s s Minister shall, at the earliest available opportunity, caus reig hat copy of the report referred to under subsection (1) to beA lll. aid before the National Assembly. an ia z [s. 40] n Ta Financial y oeft ar 46. The financial year of the Board shall be the period of one Act No.en th 7 ofr e n2m021 s. 25 year ending on the 30 June. ov [s. 40A] 25 G 20© Minister may give 47. The Minister may, by writing under his hand, give the directions Board directions of a general or specific nature, and the Board shall comply with every such direction. [s. 41] 494 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] PART VIII GENERAL PROVISIONS Offences 48. A person who- . Acts Nos. 2 of 1995 s. 28 (a) fraudulently makes, or causes or permits to be made, AG f O 7 of 2021 s. 26 any false or incorrect entry in the register or any copyo i n o thereof; iss (b) fraudulently procures or attempts to procure, wherm p ther t for himself or any other person, registrat u thio n as a certified public accountant in public practdicwe i , certified public accountant, graduate accountant te trib uor accounting technician; or di s r (c) makes or certifies any statementd oe which is false in a material particular, or which iosd umc isleading, with a view to gaining any advantage, c r roen p cession or privilege under this Act, whether for hiym b eself or for any other person, commits an offence and onk c a monviction, shall be liable- (i) in the case o fb oa on individual person, to a fine of not less than t s f teh in million shillings or to imprisonment for a te o artm not exceeding two years or to both; and (ii) in p Ntho e case of a practising firm, to a fine of not d. rvleess than ten million shillings or ten percent of res e the firm’s gross audit fee, whichever is greater, hts g provided that, the amount charged shall not ll r i A exceed thirty million shillings. nia . [s. 42] za an Compound T oifng of 49.–(1) Notwithstanding the provisions of this Act relating offencesnt Act No.e to penalties, where a person admits in writing that he has 7 rnm v oef 2021 s. 27 committed an offence under this Act, the Executive Director Go or a person authorised by him in writing may, at any time 25 20 prior to the commencement of the proceedings by a court of © competent jurisdiction, compound such offence and order such person to pay a sum of money not exceeding one half of the amount of the fine to which such person would otherwise have been liable to pay if he had been convicted of such offence. 495 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (2) Where the person fails to comply with the compounding order issued under this section within the prescribed period, the Executive Director or a person authorised by him may, in addition to the sum ordered, require the person to pay an . interest at the rate prescribed in the regulations. G OA (3) Where the person fails to comply with subsection (2), f n o the Executive Director may enforce the compounding ordisesr io and interest accrued thereof in the same manner as a deercmp ree of a court. ut o (4) The Executive Director shall submit quarterl ith yw reports of d all compounded offences under this section to tuhteb e Director of Public Prosecutions. ist ri d (5) Offences to be compounded undedr ot rh is section and the manner of compounding offences shadlul c be e as prescribed in the regulations made under this Act. pro e r e [s. 42A] ay b m Consent of 50. A person shall not be opor ko secuted for an offence under this Director of Public Prosecutions Act save with the consenist ob f the Director of Public Prosecutions. of th rt [s. 43] pa Regulations 51. Subject tod . t Nhoe provisions of section 52, the Minister may, Acts Nos. ve 2 of 1995 s. 29 after consuelrtation with the Board and by notice published in 7 of 2021 s. 27 the Gaz es se rtte, make regulations generally for the better carrying out of htt rig he provisions of this Act and any such regulations may pr. oA lvl ide for- nia za (a) the conduct of the business of the Board and the Tan procedure to be followed by the Board in any inquiry of nt under this Act; e rnm (b) the appointment by the Board amongst its members of e ov subcommittees and the co-option of persons; and 5 G 02 (c) anything which is permitted or required by this Act ©2 to be prescribed, other than any matter or thing to be prescribed by the Board. [s. 44] 496 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] By-laws 52.–(1) With the consent of the Minister, the Board may, for Act No. 2 of 1995 s. 30 the better carrying out of its objects and functions, make by- laws- (a) prescribing degrees, diplomas, certificates, awards . and other qualifications which shall be recognised as G OA entitling the holder to registration under this Act; n o f (b) prescribing diplomas, certificates and other awaridsss io which may be conferred or granted by the Board; ermp (c) prescribing the conditions which must be osua t tisfied before any diploma, certificate or other aw awri tdh may be d granted; uteb (d) prescribing the manner in which dip tr dlisomi as, certificates or other awards may be granted; r d o (e) regulating the conduct of examicnedu ations; (f) prescribing fees for admissieop rno to any course offered by the Board; r be (g) prescribing fees pay mabayle by the candidates for any examination held oob rk conducted by the Board; (h) providing for a thn isd regulating disciplinary proceedings against the f rt oofficers of the Board, the students and candidateo sp; a (i) prescerdib . Ning rules for professional conduct and ethics for earvs ccountants and auditors; e (j) htsp rrescribing rules, terms and conditions for registration; (llk ri) g prescribing the fees to be paid on application for ia. A registration, the issue of certificate of practice and for za n n extracts copies and lists of, or in relation to, entries in a of T the register; nt e (l) prescribing classification within the registers ern m for different levels or types of qualifications and ov 5 G competence; 20 2 (m) prescribing the scale of fees which may be charged © by accountants and auditors for services rendered by them; (n) authorising the Executive Director to arbitrate on any dispute as to fees charged by any accountant; 497 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (o) prescribing rules and procedures for exemption of part of the Board’s examination scheme; and (p) prescribing anything which may, or is required to be prescribed by the Board. . (2) It shall not be necessary for the by-laws made under this OAG section to be published in the Gazette. n o f [s. 4is5s] io erm Proceedings of 53. An act or proceeding of the Board shall not be inovua t plid by Board not to be invalid by reason reason only of the number of the members not beinwgi thcomplete of irregularity at the time of such act or proceeding or of anyu ted defect in the appointment of any member or of the fact it ib shtrat any member was at the time in question disqualified or o dr disentitled to act as such. ed uc pro d [s. 46] e e r General offence 54. A person who contravenesa ya n b y of the provisions of this Act Act No. 7 of 2021 s. 29 for which no specific penaoltky m is provided, commits an offence and on conviction, shalils bb oe liable to a fine of not less than five million shillings but nf th o ot exceeding ten million shillings or to rtimprisonment fo rp aa term of not less than six months but not exceeding two yNeod. ars or to both. erv e [s. 48] re s Repeal 55. [Rhetsig peals the Accounts (Designation) Ordinance]. Ord. No. ll r 16 of 1952 a. A [s. 47] i za n Tan of SCHEDULE en t nm (Made under section 3(3)) er Gov CONSTITUTION AND PROCEEDINGS OF THE BOARD 5 Composition of 02 Board, Chairman 2 1.–(1) The Board shall consist of a chairman who shall be appointed by © and members’ the President. tenure of office Act No. (2) The Minister shall, after consultation with the Board, appoint- 2 of 1995 s. 31 (a) the Executive Director; (b) six other members, 498 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] Provided that, no person shall be appointed unless he has knowledge and practical experience of accountancy profession. (c) five other members to be recommended by the association representative of all accountancy professionals. (3) The Executive Director appointed under subparagraph (2) shall . be an ex officio member of the Board. AG (4) The chairman of the Board may, unless he resigns or his of O membership is otherwise terminated, hold office for a maximum of two io n consecutive terms of three years in respect of each term. iss (5) A member of the Board shall hold office for three years u npele rmss- (a) he resigns; t ou (b) he otherwise vacates his office; ith (c) his appointment is revoked by the appointinge adu wthority; or (d) he fails to attend to three consecutive rmib uetetings without reasons to the satisfaction of the Board.dis t (6) The appointing authority may fill in any o rv acancy occurring in the membership, and may revoke the appointcme dent of any member, and appoint a replacement in accordance withro sdu ubparagraph (2). (7) A member may resign by g irve ping notice in writing to the appointing authority of his intentioyn b t eo do so. (8) In this paragraph “appoin tmin a g authority” means the Minister. k Election of Vice- 2.–(1) The members shall e o bloect a Vice-Chairman of the Board from Chairman amongst their number. is Act No. th (2) The Vice-Chairtmo fa n shall hold office for a period of three years 2 of 1995 s. 31 from the date of his r pealection and shall be eligible for re-election. o Meetings of 3.–(1) Subject tdo. N the provisions of subparagraph (2), the Board shall Board meet not less rtvhean four times in every year and all meetings of the Board shall be c o e rensvened by the Chairman, or in his absence from the United Republhitcs or incapacity through illness, the Vice-Chairman, who shall applo ri ingl t a suitable time, place and date for the holding of each meeting. A a. (2) The Chairman, or in his absence from the United Republic or niia ncapacity through illness, the Vice-Chairman, shall convene special nza meeting of the Board on a request in writing signed by not less than four T of members of the Board for such a meeting and shall cause the meeting en t to be held within twenty-one days of the receipt by him of such request. rnm (3) The Chairman, or in his absence, the Vice-Chairman shall ov e preside at the meeting of the Board, and in the absence of both the 5 G2 Chairman and the Vice-Chairman, the members present at the meeting 20 shall elect one of their number to be Chairman for that meeting. © Quorum and 4.–(1) Five members shall constitute a quorum at any meeting of the voting at Board. meetings (2) All acts, matters and things authorised to be done by the Board Act No. 2 of 1995 s. 31 shall be decided by resolution at a meeting of the Board at which a quorum is present. 499 THE ACCOUNTANTS AND AUDITORS (REGISTRATION) ACT [CAP. 286 R.E. 2023] (3) A decision of the majority of members present and voting at a meeting of the Board shall be deemed to be a decision of the Board. (4) Every member of the Board shall have one vote and in the event of an equality of votes, the Chairman of the meeting shall have a second or casting vote in addition to his deliberative vote. . (5) Notwithstanding the provisions of subparagraph (2), where the AG Chairman so directs, a decision may be made by the Board without a O of meeting by circulation of the relevant papers among all the members io n and the expression in writing of their views, but any member shall isbse entitled to require that any such decision shall be deferred unteirlmp the subject matter is considered at a meeting of the Board. ou t (6) The Board shall appoint Committees as are necessarwyi tt ho conduct the affairs of the Board. ute d Minutes of 5. Minutes in proper form of each meeting of the Btroibs ard shall be kept meetings and shall be confirmed by the Board at the next m deir eting and signed by the Chairman of the meeting. d o ce Procedure 6. Subject to the provisions of this Scheroddu ule and to any regulations which may be made under this Act, rteh pe Board shall have power to regulate its own procedure. be ay Seal of Board 7. The seal of the Board shall nokt m be affixed to any instrument except in the presence of the Chairmano,o b the Vice-Chairman or the secretary and one other member of the tBisoard. f h Executive 8. The Executive Dirertc otor shall act as the secretary of the Board and Director to be shall be entitled to ob pe a present and speak, but not to vote, at the meetings secretary of the Board. d. N Staff 9. The Boarder e s vmay, with the consent of the Minister, appoint such other officers ass r eit may consider necessary on such terms and conditions as may b t rige h prescribed by regulations made under section 51. ll ia. A n za Tan t o f en ern m ov 5 G 02 ©2 500