ACCOUNTANTS: SUBSIDIARY LEGISLATION

INDEX TO SUBSIDIARY LEGISLATION

Accountants (Appeals Committee) Order

Accountants Regulations

ACCOUNTANTS REGULATIONS

 

(section 57)

 

(28th June, 2013)

 

 

 

PART I
Preliminary

 

   1.   Citation

 

   2.   Interpretation

 

 

 

PART II
Membership of Institute

 

   3.   Application for registration as member of Institute

 

   4.   Classes of membership

 

   5.   Qualification for registration as member

 

   6.   Registration of member

 

   7.   Re-registration of member

 

   8.   Renewal of membership and annual subscription

 

 

 

PART III
Registration of Professional Accountant, Certified Auditor and Member Firm

 

   9.   Application for registration of professional accountant

 

   10.   Application for registration of certified auditor

 

   11.   Application for registration of member firm

 

   12.   Registration

 

   13.   Application for re-registration of member or member firm

 

   14.   Certificates of registration and practising certificate

 

   15.   Renewal of certificate

 

   16.   Fees payable on issue of certificate

 

 

 

PART IV
Registration of Students

 

   17.   Conditions of registration

 

   18.   Registration of students

 

   19.   Registration Card, etc.

 

   20.   Duration of registration

 

   21.   Renewal of registration of student and annual subscription

 

   22.   Restoration to Student Register

 

   23.   Independent student

 

   24.   Training Agreement

 

   25.   Signing off Log

 

   26.   Discipline of registered student

 

 

 

PART V
Miscellaneous Provisions

 

   27.   Approved training

 

   28.   Authorised training employer

 

   29.   Continuing Professional Development

 

   30.   Annual returns

 

 

 

      SCHEDULES

 

 

S.I. 75, 2013,
S.I. 87, 2013.

PART I
Preliminary (regs 1-2)

 

1.   Citation

   These Regulations may be cited as the Accountants Regulations.

 

2.   Interpretation

   In these Regulations, unless the context otherwise requires-

   "approved training" means practical training and experience approved by the Council and obtained from an authorised training employer;

   "authorised training employer" means a firm or undertaking authorised by the Council to provide approved training;

   "Continuing Professional Development" means the BICA, Continuing Professional Development scheme set up by the Institute, which scheme fully complies with the applicable IFAC international education Continuing Professional Development (CPD) Standard;

   "independent student" means a person who is registered as an independent student under regulation 23;

   "student" means a person who is registered as a student for the Botswana Professional Accountancy Qualification under regulation 18; and

   "Training Agreement" means an agreement of approved training registered with the Institute, and made between the student and the authorised training employer.

PART II
Membership of Institute (regs 3-8)

 

3.   Application for registration as member of Institute

   A person who wishes to be registered as a member of the Institute under section 28 of the Act, shall make an application in Form 1 set out in Schedule 1.

 

4.   Classes of membership

   (1) The rules of the Institute have set out the following classes of membership-

 

   (a)   Accounting Technician;

 

   (b)   Associate Chartered Accountant;

 

   (c)   Associate Certified Professional Accountant;

 

   (d)   Fellow Chartered Accountant;

 

   (e)   Fellow Certified Professional Accountant;

 

   (f)   Certified Auditor; and

 

   (g)   Member Firm.

   (2) The manner and form of application to the different classes of membership referred to under subregulation (1) shall be in Form 1 set out in Schedule 1 and accompanied by such fees as specified in Schedule 4.

 

5.   Qualification for registration as member

   (1) A person shall be qualified to be registered as a member of the Institute, where the person intends to register as an-

 

   (a)   Accounting Technician, that person-

 

      (i)   has passed the Association of Accounting Technicians (AAT) examinations or equivalent,

 

      (ii)   has obtained relevant practical experience of at least two years, and

 

      (iii)   is fit to be admitted as a member;

 

   (b)   Associate Chartered Accountant, that person-

 

      (i)   has passed the Botswana Professional Accountancy Qualification examinations,

 

      (ii)   has obtained the necessary technical experience as per the training requirements of the Institute, and

 

      (iii)   is fit to be admitted as a member;

 

   (c)   Associate Certified Professional Accountant, that person-

 

      (i)   is a member in good standing of another approved professional accountancy body recognised by the International Federation of Accountants, and

 

      (ii)   is fit to be admitted as a member;

 

   (d)   Fellow Chartered Accountant, that person-

 

      (i)   has been a member as an Associate Chartered Accountant for a continuous period of five years, and

 

      (ii)   in the opinion of the Council, meets the Continuing Professional Development requirements; or

 

   (e)   Fellow Certified Professional Accountant, that person-

 

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