Overview - PAAB

Public Accountants' and Auditors' Board
PAAB Contact Details:

Tel: +264 (0) 61 285 8467
Email:  secretariat@paab.com.na

PO Box 11913

123 Robert Mugabe Avenue
Windhoek, Namibia
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Quality Assurance Inspections
A crucial element of the regulation of external auditors is the conducting of quality assurance inspections at all registered audit firms in Namibia.  

Inspections Mandate
The PAAB derives its inspections mandate from Section 21(1) of the PAA Act:
"The Board shall have power to take any steps which it may consider expedient for the maintenance of the integrity, the enhancement of the status and the improvement of the standards of professional qualifications of accountants and auditors and to encourage research in connection with problems relating to an matter affecting the accounting profession".

Inspections Objective
The ultimate objective of quality assurance inspections is to protect the financial interests of the general public through the effective and appropriate regulation of audits conducted by RAAs, in accordance with internationally recognized professional standards and processes, hence boosting and maintaining public confidence.
Concurrently, quality assurance inspections are aimed at stimulating and promoting continuous improvement in audit quality by regulated firms and practitioners through interrogation of the firms’ systems of quality control and the monitoring of engagement files for compliance with professional standards and applicable regulation and legislation.
Quality Assurance Inspections Annual Reports

At the end of every year, the PAAB Inspections department compiles a report of the inspections activities during the year.  This report details the number of inspections conducted, the number and nature of findings and gives an overview of the PAAB's quality assurance methodology.
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