Apr 2 , 2022
The Ethiopian Professional Association of Accountants & Auditors (EPAAA) marked half a century of operations during its annual general meeting held at the Ras Hotel last week. The Association was established in 1972 to promote the development of accounting and auditing professionals in the country. It has since garnered over 1,400 members. Most of them (1,274) are certified accountants, with auditors and associate members comprising the rest of the roster. There are around 150 audit firms in Ethiopia, registered under and accredited by the Accounting & Auditing Board of Ethiopia (AABE). Regulators at the National Bank of Ethiopia (NBE) disclosed last month they are working on a directive that seeks to tighten requirements placed on audit firms looking to service financial institutions. The move has drawn criticism from industry practitioners, who fear it would may cause syndicates to emerge. The EPAAA registered 334 new members last year. Less than a dozen were auditors.
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