At an audit seminar in August organised by the Tanzanian National Board of Accountants and Auditors (NBAA), Nexia Tanzania delivered an insightful presentation on the restructured and revised ‘International Code of Ethics for Professional Accountants.

Effective from 15th June 2019, the Code was developed and approved by the International Ethics Standards Board for Accountants (IESB). As the global independent standards-setting body, IESB serves the public interest by setting robust, internationally appropriate ethics standards, including auditor independence requirements, for professional accountants worldwide.

More than 200 partners and representatives from audit firms operating in Tanzania attended the seminar, among them Nexia Tanzania’s Managing Partner, Mrs. Sujata Jaffer, Partners Mr. Hanif Jaffer and Mr. Mufaddal Mohamedali and Assistant Audit Manager, Mr. Azizi Munisi.

Other topics covered during the daylong seminar included:

• Compliance with laws and regulations when auditing financial statements
• Audit techniques to combat money laundering and IT crimes
• Auditing social security funds
• Future challenges in relation to the NBAA conducting audit quality reviews on audit firms in 2018.