12 Jun 2018

The Botswana Institute of Chartered Accountants (BICA) has engaged law enforcers in Maun on the Accountants Act of 2010 before it is implemented in July this year.

The Accountants Act 2010 aims to regulate the profession and penalise those who practice without registration, according to the BICA technical and public sector accountancy services director, Mr Eddie Bayen.

Speaking at the sensitisation workshop in Maun, which targeted mainly the Botswana Police Service staff, Mr Bayen noted that BICA was established to carry out the regulation of the accounting profession.

He however said the Act has not yet been endorsed since BICA was still putting structures in place to enable capacity to enforce the law and associated regulations.

The Accountants Act, 2010 he said, recognised that the profession was a noble one, which should be regulated and emphasised the conduct of ‘responsibility to act in the public interest’.

Mr Bayen said the Act required all in the accounting profession and bodies to be registered with BICA and be from an academic institution.

“Bad conduct by one accountant affects the whole accounting profession,” he said.

He also noted that a regulated accounting profession improved the image of the country internationally, since the ratings depended on reports from a regulated accounting profession.

Furthermore, Mr Bayen said BICA promoted development of the accounting profession and had a project to develop a post graduate accounting qualification specific to the public sector.

He revealed that an association for women in the accounting profession was also being formed.  Mr Bayen also noted that BICA had taken into consideration some gaps on the Accountants Act, 2010 noted by stakeholders though engagements. The BICA public relations and marketing manager Mr Oupa Gaofisi stressed that BICA was planning to implement the Act and penalise non-compliant practitioners. BICA membership services manager, Ms Khumoetsile Modisa said BICA had been engaged on awareness with different stakeholders regarding the Act since 2011.

Ms Modisa also said BICA expected all accounting practitioners to have registered by at least June 29 .

A representative from Botswana Police Service, senior superintendent Sarah Gabathuse appreciated the engagement of the policing staff by BICA, saying in most cases, the police were expected to enforce pieces of legislation without consultation. She said consultations would help address some of the gaps in the Accountants Act of 2010, such as specified penalties. ENDs