AABE’s Governance arrangements
AABE Board is responsible for the philosophy and overall strategy, including risk management of AABE to enable it to achieve its strategic objectives and mandate. The Board is responsible for ensuring that the resources of the AABE are efficiently and effectively deployed to achieve its strategic objectives.
Oversight powers of the Board include the issuance and maintenance of standards and codes for corporate reporting, accounting, auditing and assurance services, and corporate governance.
Twelve members of the Board of Directors, including the Chairman, have been appointed by the Government from various stakeholders and relevant government agencies. The Board is independent and structurally independent from the profession, practicing professionals and professional accountancy bodies. Furthermore, as per Section 7(2) of Regulation 332/2014 which authorizes the board to establish various advisory committees to assist it in discharging its responsibilities, the board, to discharge its powers and duties efficiently and effectively, has established relevant committees, sub-committees, councils and panels.