The Public Accountants' and Auditors' Board (PAAB) is established in terms of the Public Accountants' and Auditors' Act, Act 51 of 1951 as amended.
The Public Accountants' and Auditors' Board acts as guardian of reliable and meaningful financial reporting in Namibia.
This is achieved by enforcing due compliance with sound financial reporting and auditing standards which are focused on the enhancement of the quality of reporting information and designed to eliminate the scope of misleading financial reporting.
The Board is a statutory body controlling that part of the accountancy profession which is engaged in public practice in Namibia and functions in terms of the Public Accountants' and Auditors' Act (Act 51 of 1951).
Public practice is defined in section 1 of the Act, subsection (ix) as follows:
"public practice" means the practice of a person who performs the functions of an accountant or auditor, and for that purpose holds himself out as an accountant or auditor and places his service at the disposal of the public for reward, but does not include services which are substantially at the command of any one person or of the State;
All entrants to the public accountancy profession in Namibia are subject to the requirements as prescribed by the legislation regulating the profession and the Public Accountants' and Auditors' Board.
Specifically as set out in section 22 of the Act:
PROHIBITION ON PRACTISING AS PUBLIC ACCOUNTANT AND AUDITOR BY UNREGISTERED PERSON
The Board is composed of ten numbers appointed thereto by the Minister of Finance as follows:
The Auditor General (EX Officio)
Officers in the public service who in the opinion of the Minister, are in the performance of their duties concerned to a considerable extent with certificates, reports or opinions or auditors.
A Senior Lecturer in Accounting and Auditing from the University of Namibia; and,
4 Nominees of the Institute of Chartered Accountants of Namibia.
| Name | Representing |
| Chairman | Mr K Mathew | Bank of Namibia |
| Vice-Chairman | Ms J Engels | ICAN |
| Members | Mr T Andima | Ministry of Trade & Industry |
| Mr J Kandjeke | Office of Auditor General |
| Mr E Beukes | University of Namibia |
| Ms L Jason | Ministry of Agriculture |
| Ms C Husselmann | ICAN |
| Ms E Beukes | Master of the High Court |
| P Tjipeua | ICAN |
| Mr J Mungunda | ICAN |
To arrange and provide the means of a regulatory framework for the education and training of adequate numbers of competent disciplined accountants and auditors in accordance with the needs of Namibia.
To strive continually for the maintenance and improvement of the standards and quality of services required from registered accountants and auditors.
To protect and support registered accountants and auditors, who carry out their duties competently, in good faith and in compliance with the requirements of the Board.
The requirements to register with the Board are:
to be over the age of 21,
to be resident in the republic of Namibia,
to have served articles of clerkship,
to have passed the prescribed examinations, and
to be a member in good standing of the Institute of Chartered Accountants of Namibia