Tanzania National Professional Accountancy Organisation: National Board of Accountants and Auditors (NBAA) Tanzania World Bank ROSC Accounting and Auditing Report Update for November 2002 Financial Reporting Framework in Tanzania - November 2002 Update Tanzania requires IFRSs starting in 2004 for listed and non-listed international companies Effective from 1 July, 2004, the National Board of Accountants and Auditors adopted the International Financial Reporting Standards (IFRSs) and International Accounting Standards, issued by the International Accounting Standards Board (IASB), and International Standards of Auditing (ISAs), issued by the International Federation of Accountants (IFAC), as Tanzanian standards. At the same time, the Board continued in force the following Tanzania Financial Accounting Standards (TFASs) and Tanzania Statements of Recommended Practice (TSRPs) that do not have counterpart International standards: Tanzania Financial Accounting Standards (TFASs) TFAS No. 12 Director's Report TFAS No. 16 Accounting for Extractive Industries TFAS No. 23 Accounting for Value Added Tax (VAT) TFAS No. 24 Public Sector Accounting Tanzania Statements of Recommended Practice (TSRPs) TSRP 2 Accounting for Non-Governmental Organizations TSRP 3 Governance in the Public Sector - An Accounting Officer's Perspective