Licenses of Ten Auditors at Risk After Alleged Tax Irregularities

Sep 27 , 2025


[ssba-buttons]

The Addis Abeba Revenue Bureau has asked the Accounting & Auditing Board of Ethiopia to revoke the licenses of ten accountants and auditors accused of preparing flawed taxpayer records during the 2024/2025 fiscal year. Officials say a preliminary audit uncovered irregularities that may have cost the government revenue. While disciplinary measures are yet to be confirmed, the Bureau said it would no longer accept financial statements signed by the professionals under scrutiny. Citing provisions in the Tax Administration Proclamation, the Bureau is also in talks with regulators to issue clearer guidelines aimed at tightening accounting standards. The move follows a wider crackdown earlier this year, when more than 800 auditors and accountants were accused of understating business tax liabilities. That review revealed a 10.6 billion Br shortfall in collections for 2023/24, tied to under-invoicing, inflated expenses, and profit margins deemed “abnormally low” by officials.


Radar

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...