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Mission , Visionadministrator2017-06-09T05:01:19+00:00
Strategic plan of AABE click below-
Objectives of AABE
AABE has clear and realistic statutory objectives which are stated in Section 5 of the Regulation as to:
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Promote high quality reporting of financial and related information by reporting entities;
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Promote the highest professional standards among auditors and accountants;
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Promote the quality of accounting and auditing services;
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Ensure the accountancy profession is used in the public interest;
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Protect the professional independence of accountants and auditors.
Vision
Our vision is to be an internationally recognized independent and effective regulatory body of the accountancy profession in Ethiopia.
Mission
Our mission is to support investment and protect the public interest by promoting high quality financial reporting in Ethiopia through appropriate oversight of the accountancy profession, in accordance with local laws and international standards.
Values
In regulating the profession in evolving complex financial reporting requirements, we will uphold and guided by the following values:
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Integrity
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Fairness
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Collaborative
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Accountability
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Resourcefulness
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Commitment to excellence
Guiding Policies
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Leveraging resources with other relevant domestic and international organizations in order to maximize the effectiveness of regulatory, enforcement, and educational activities.
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Adopting and expanding risk-based assessment practices to better anticipate emerging risks and market trends that may threaten our ability to fulfill the Board’s mandate.
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Applying modern information communication technology to enhance the operational effectiveness of the AABE and to improve the public’s access to AABE’s registration, filing and other information.
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Establishing and sustaining organizational excellence.
Key Result Areas -Goals, Objectives
1. Standards Setting
Goal
Promote confidence of investors and other users of financial statements through the adoption and implementation of high quality internationally accepted financial reporting standards, audit standards, professional codes of Ethics and Corporate Governance Codes.
Objective 1:
Adopt and issue International Standards for Financial Reporting, International Standard on Public Sector Accounting, International Standard on Auditing, Professional Codes of Conduct, Corporate Governance Codes and other internationally accepted best practices developed by relevant authoritative bodies following due process.
Objective 2:
Develop and issue technical guidelines, interpretations and tools and other supporting materials that takes into consideration national context and sectoral issues which will facilitate effective implementation of issued standards.
Objective 3:
Attempt to influence the international standards by actively participating in the standards setting processes of the international standards setting boards.
2. Audit Practice Review and Monitoring
Goal
Promote confidence of investors and other users of financial statements in audited financial statements through effective audit practice reviews and monitoring.
Objective 1:
Establish a well-resourced audit practice review and monitoring department which will use risk assessment techniques aimed at identifying emerging accounting and auditing issues and other key areas of risk that may lead to audit failure.
Objective 2:
Disseminate and promote awareness of IFAC’s guidelines and framework for conducting high quality audits and for applying quality controls in the operations of SMPs.
Objective 3:
Identify situations where audit firms certified auditors and public auditors have failed to conduct audits in accordance with applicable laws, codes, and standards and investigate to establish the root cause, and take appropriate action.
Objective 4:
Coordinate effectively with other sector regulators in Ethiopia to improve oversight on compliance with international standards.
Objective 5:
Work with Regional and International audit regulators and the International Forum of Independent Audit Regulators to establish AABE’s regional and global presence.
3.Financial Reporting Review and Monitoring
Goal:
Promote confidence of investors and other users of financial statements through effective financial statements reviews and monitoring.
Objective 1:
Establish a well-resourced Financial Reporting Review and monitoring unit which will use risk assessment techniques aimed at identifying emerging accounting and financial reporting issues and other key areas of risk that may lead to financial statements that do not comply with legal and international financial reporting standards requirements.
Objective 2:
Disseminate and promote awareness of guidelines for preparation of financial statements that comply with IFRSs.
Objective 3:
Identify emerging accounting issues and other key areas of financial reporting risk that may lead to misleading financial statements.
4. Professional Education, Training, Professional Development and Certification & Accreditation
Goal:
Ensure the implementation of high quality financial reporting by promoting the development of high quality accountancy education in Ethiopia.
Objective 1:
Ensure that adequate number of competent accounting and auditing professionals are produced to meet the growing economy and the ensuing increase in demands for accounting and auditing services.
Objective 2:
Ensure that professionals and accountants in reporting entities are able to handle the new standards to implementing IFRS effectively.
5.Investigations and Enforcement
Goal
Improve the credibility of the accountancy profession in Ethiopia.
Objective 1:
We will introduce and enforce robust investigation and discipline mechanisms as part of regulating the accountancy profession
