09 Jul 2017

Re-elected president of Botswana Institute of Chartered Accountants (BICA) says the institute will continue to represent members interests, develop the accounting profession, protect public interest and ensure observance of professional and ethical standards by members.

Speaking at BICA’s stakeholders cocktail to introduce the new president, council members and their 2017-2021 strategic plan, Mr Rudi Binedell said at the end of December 2016, BICA had registered 3 355 members compared to 1 629 members at the end of 2012.

He said it was largely achieved through public education and awareness campaigns as well as publishing a moratorium calling on all accountants to register with the institute.

“We endeavour to ensure that all accountants working in Botswana register with BICA as prescribed in the Accountants Act 2010,” he said.

Mr Binedell noted that by the end of 2016, non-governmental funding stood at 76 per cent while the target for the period was set at 79 per cent. He noted that BICA fell short of the target by 3 per cent.

He said BICA planned to increase revenue from its main revenue streams of membership, continuing professional development and closely monitoring costs incurred by the institute.

On the new strategy, he said to ensure that it got implemented, the key was to strengthen the organisational structure.

He said the new structure was successfully implemented and has been operational since July 2016.

“The new structure saw the introduction of new roles and the implementation of the performance management system (PMS),” he said.

Mr Binedell further said BICA intended to help grow the country’s economy with the provision of a competitive accountancy profession for the needs of the economy.

“We will continue to build upon our core values of integrity, excellence, independence, transparency and accountability with a view to meeting our organisational targets,” said Mr Binedell.

He said some of the key areas the new strategy would focus on were to improve talent management, to leverage technology, to strengthen partnership management and to enhance BICA qualifications.

The new BICA council is made up of Mr Moshe Libengo, BICA vice president and currently serving as finance director at Ba Isago University, Ms Gosego Motsamai, treasurer and partner at KPMG, Ms Tshegofatso Modise, former BICA president, Mr Zaeem Anwar, managing partner at Sharma and Associates, Mr Tarisai Musena, senior finance manager at Debswana Corporate Centre, Ms Helen Chilisa, deputy permanent secretary in the Ministry of Basic Education, Mr Conductor Masena, chief executive officer of CIPA, Mr Michael Katombe, acting director of corporate learning and leadership at

Botswana Accountancy College (BAC) and Ms Mpho Masuge, accounts officer at the Ministry of Finance and Economic Development.

For her part, Ms Verily Molatedi, chief executive officer of BICA said the institute held its AGM in April and re-elected its president and other council members.

She noted that the new strategic plan came on the back of the conclusion of the 2013-2016 strategic plan.

She said although they had challenges with regards to the implementation, the institute was able to attain some of the set goals and plans that were outlined in the previous plan.

Ms Molatedi said the centre of the strategic plan hovers around the institute’s plan to support Botswana’s economic development and ensure the protection of the public interest. ENDS