The National Board of Accountants and Auditors (NBAA) is pleased to inform you of two important Technical Pronouncements issued to enhance compliance and transparency in financial reporting and auditing practices.

1. Technical Pronouncement No. 3 of 2025: Mandatory Submission of Audited Financial Statements via the NBAAVN System

• Effective Date: 1st July 2025
• Key Requirements:
  • Phase 1 (From 1st July 2025): Submission of backlog audited financial statements for 2022 onwards.
  • Phase 2 (From 1st November 2025): Mandatory submission of current and subsequent years' audited financial statements via the NBAA Verification Number (NBAAVN) System.
  • Payment for submissions will be required from 1^st November 2025 to cover system costs.
• Purpose: To ensure compliance with Section 30A of the Accountants and Auditors (Registration) Act and create a secure database for financial statements.

2. Technical Pronouncement No. 2 of 2025: Inclusion of a Section in the Auditor’s Engagement Letter

• Effective Date: 1st July 2025 (for engagements commencing on or after this date).
• Key Requirements:
  • Auditors must include a specific paragraph in engagement letters notifying clients of the mandatory submission of audited financial statements to NBAA.
  • Sample wording is provided for compliance.
• Purpose: To enhance transparency and ensure adherence to legal and regulatory requirements under the Act and Practicing Bylaws.

For further information and clarification please contact:

EXECUTIVE DIRECTOR

THE NATIONAL BOARD OF ACCOUNTANTS AND AUDITORS TANZANIA (NBAA)