The Accounting and Auditing Board of Ethiopia (AABE) is a statutory body established

under CMR 332/2015 basing the financial reporting proclamation 847/2014, with the primary
purpose of protecting the public interest. To achieve this, AABE is responsible for regulating the
profession as well as for issuing a national professional accountancy qualification that is
recognized internationally.

Among others, its responsibilities include setting Accounting and Auditing standards and code of
conduct to regulate the behavior of professionals; register and certify professionals and firms to
provide such services; review and monitor the work of professionals and firms rendering
accountancy and/or audit services and reporting entities; providing professional qualification
training, supporting education and continuous professional development programs; enforcing the
financial reporting law and taking disciplinary measures on those who do not comply with the
provisions of the law and the regulation set by the Government and directives, other relevant
policies and guidelines issued by the Board.

AABE’s Mission

Protect the public interest by monitoring the implementation of international financial reporting
and Auditing Standards.

AABE’s Vision

To be internationally recognized independent regulatory body of the accountancy profession in

AABE’s Values

 Integrity
 Fairness
 Collaborative
 Accountability
 Resourcefulness
 Commitment for Excellence

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AABE’s Organization Structure

Objectives of the Board

The Board shall have the following objectives:

1) promote high quality reporting of financial and related information by reporting entities;

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 2) promote the highest professional standards among auditors and accountants;
3) promote the quality of accounting and auditing services;
4) ensure that the accounting profession is used in the public interest;
5) protect the professional independence of accountants and auditors.

Powers and Duties of the Board

The Board shall have the following additional powers and duties to:-

1) establish, publish and review a Code of Professional Conduct and Ethics for certified
public accountants and certified auditors, which shall be consistent with that of the
International Federation of Accountants or its successors;
2) issue directives related to professionals including for the acceptance or rejection of
application, suspension, cancellation or renewal of certificate and registration;
3) issue its own examination and quality requirement directives;
4) confer, consult, maintain contact or co-operate with any relevant authorities, associations,
societies, institutions or bodies to enhance the standing of the accounting profession and
professionals both nationally and internationally;
5) cooperate with, or become a member or an affiliate of, any international body, the
objectives and functions of which are similar to those of the board;
6) facilitate arbitration or conciliation to amicably resolve disputes between professionals
and their clients;
7) consider and propose for amendment of existing or proposed legislation in Ethiopia
affecting the accounting profession;
8) conduct or arrange for the conduct of professional qualification examination for the
purposes of registering certified public accountants;
9) represent the accounting and auditing profession in Ethiopia;
10) lay down the requirements to register persons who qualify to be certified public
accountants or certified auditors and register such persons as professionals and maintain a
list of such persons;
11) establish requirements for, conduct, or arrange for the conduct of continuing professional
training programs;
12) inquire into any breach of the Code of Professional Conduct and Ethics of the Board, the
provisions of this Regulation or Regulations or directives issued under the proclamation,

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 any certified auditor or certified public accountant, either on its own initiative or at the
request or grievance of any person and take disciplinary action where appropriate;
13) implement a sound quality assurance mechanisms to ensure high quality audit practice;
14) conduct or arrange for the conduct of practice review of the auditors of small and
medium enterprises;
15) engage in the continuous review and dissemination of international and domestic
information to professionals and others concerning to professions of accounting and
auditing;
16) perform such other related functions as are necessary for the achievement of its
objectives.

Organization of the Board

The Board shall have:

a) a Board of Directors;
b) a Director General and, as may be necessary, a Deputy Director Generals, to be appointed
by the Government; and
c) the necessary staff

The Board may establish various advisory committees to assist it in discharging its
responsibilities properly.

Members of the Board of Directors

1) The Board of Directors shall, including the chairperson, have 12 members to be

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