Speaking at Botswana Institute of Chartered Accountants (BICA) corporate workshop on Monday at Gaborone International Convention Centre, Mr Duncan Majinda said his role as a CEO is to put in place strategies that will ensure that BICA becomes the qualification of choice in Botswana. Some of the goals the institution has put in place are to create a professional qualification with international portability and recognition, enhance the governance and capacity of the new institute, to come up with a robust, relevant and easily enforceable programme of continuing professional development.
The Accountants Act No.12 of 2010 he said required every person or entity providing professional accountancy or related services to the public, for either a salary or a fee, to be registered with BICA for the purpose of regulation and monitoring.
Majinda could not hide his concern on private sector, saying in most cases they sit back and relax since they consider themselves professionals. He urged all accountants to register failing which will mean serious action taken against them.
“The Act, in section 30(6), imposes significant penalties for non compliance with the above requirements. A person who contravenes the above provision commits an offence and is liable to a fine not exceeding P500 000 or imprisonment for a term not exceeding 10 years, or both, “he emphasized.
He said his role is to coordinate and ensure that there is synergy from all resources that are brought to bear on the qualification. “Failure is not an option, it’s just a question of the degree of success relative to the short, medium and long term plans,” he added.
Some of the BICA principal stakeholders he pointed are students, tuition providers, approved training employers, BICA members, government, financiers as well as the general public among others.
Majinda pointed that the institute will focus on implementing requirements of the new act to promote compliance, establish the qualification to meet the dreams of our stakeholders as well as educate stakeholders on what contribution they can make towards the endeavor.
BICA mandate is to register, regulate, monitor accountants in Botswana as well as establish the Botswana Professional Accountancy Qualification.
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