NBAA launches digital system that verifies, audits financial information

DAR ES SALAAM: THE National Board of Accountants and Auditors (NBAA) has officially announced the launch of a new digital system called the NBAA Verification Number (NBAAVN), aimed at collecting and verifying audited financial information.

The announcement was made by the NBAA Director of Corporate Services, CPA Kulwa Malendeja, in Dar es Salaam, noting that the newly launched system took effect on July 1, 2025.

Additionally, the Director stated that the NBAAVN has been developed in close collaboration with professional ICT institutions to enhance transparency, efficiency, and the authenticity of financial reports submitted directly to NBAA by auditors.

“This will transform the way financial reports are collected, verified, and utilized, with a focus on transparency and accountability,” he said.

According to Mr Malendeja, the NBAAVN system is expected to address the challenges posed by the former paper-based system, which had some loopholes of misleading information.

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“Through this new system, every audited financial report will be issued a unique Verification Number, which will enable stakeholders such as TRA, PPRA, banks, and other institutions to verify the authenticity of the reports before making financial decisions,” he stated.

He further urged all stakeholders in the country, including accountants, auditors, and both public and private institutions, to begin using the new system immediately and to visit NBAA offices for support or further clarification.