1.0 INTRODUCTION

The National Board of Accountants and Auditors (NBAA) invites reporting entities in Tanzania to participate in the “Best Presented Financial Statements Awards” for the year 2023.

2.0 OBJECTIVE

To recognize, encourage and promote best practices in the preparation of financial statements in the country.

3.0 ELIGIBILITY

To be eligible for the award, the reporting entity must:

(a) Be a legally registered entity in Tanzania

(b) Have complied with the requirements of both Local and International Accounting and Auditing Standards

(c) Have employed the services of professional members registered by NBAA

(d) Financial Statements must be for the accounting period ended between 31^st January 2023 and 31^st December 2023 (inclusive)

(e) Accounts must be audited by a registered audit firm and must have obtained an unqualified audit opinion.

4.0 AWARD STRATIFICATION

Each of the below listed categories of institutions, qualifies for nomination for the “Best Presented Financial Statements Awards for the Year 2023”.

i. Banks

ii. Financial institutions

iii. Insurance companies

iv. Pension Funds

v. Manufacturing entities

vi. Trading and distribution entities

vii. Government Ministries, Departments and Agencies

viii.Regulatory authorities

ix.Regional Secretariats

x.Telecommunication and Media

xi. Local Government Authorities

xii. Service Industries including Utility and Educational Institutions

xiii. Non-Governmental Organizations (NGO’s)

xiv. Small and Medium Entities (SMEs)

5.0 CHECKLISTS TO BE USED IN THE SELECTION OF “THE BEST PRESENTED FINANCIAL STATEMENTS”.

Checklists which will be used in the selection of the “Best Presented Financial Statements Awards for the Year 2023” can be downloaded below:

• Click here to download IPSAS Disclosure Checklist
• Click here to download IFRS Disclosure Checklist

6.0 IMPORTANT INFORMATION TO BE SUBMITTED TO NBAA

Submit four (4) hard copies of your latest audited financial statements for evaluation.

7.0 AWARD

Successful entities will be presented with award(s) of the “Best Presented Financial Statements for the Year 2023” during the Accountants Annual Dinner to be held in November 2024

8.0 DEADLINE FOR SUBMISSION OF FINANCIAL STATEMENTS

The deadline for submission of audited financial statements is on Friday 18^th October 2024 at 16:00 hours.

For submission, further information and clarification please contact:

EXECUTIVE DIRECTOR,

THE NATIONAL BOARD OF ACCOUNTANTS AND AUDITORS,

AUDIT HOUSE, 8TH FLOOR,

4 UKAGUZI ROAD,

P.O. BOX 1271,

41104 TAMBUKARELI DODOMA, TANZANIA.

TEL: +255 26 2963318-9

FAX: 2151746 E-mail: info@nbaa.go.tz

WEBSITE:www.nbaa.go.tz