With the growth of the Botswana economy in the 80’s it became necessary for a more formal local structure to regulate the affairs of accountants in Botswana. The Accountants Act was passed on 24 October 1988 the objective of which was to provide for the regulation of accountants and auditors in Botswana. The Botswana Institute of Accountants was established with effect from 2 July 1990 following the proclamation of the Act.
The Accountants Act of 1988 was repealed on 2 August 2010 by an Act of Parliament of 2010 the objective of which was, among other things, to change the name of the Institute from the Botswana Institute of Accountants to the Botswana Institute of Chartered Accountants (BICA) and to establish the Botswana Professional Accountancy Qualification. The Accountants Act of 2010 came into effect on 1 April 2011 following the issuing of Statutory Instrument No. 21 of 2011.
The BICA is universally recognized as the leading professional body in Botswana
especially known for:
- Inspiring business confidence and investment.
- Leading the profession in the private sector and in government
- Delivering accounting and auditing best practice
- Providing a professional qualification recognized internationally
Core Purpose Statement
To promote public confidence in the Accounting Profession and enhance Compliance with the International Standards.
In order to motivate the right behavior and culture that will support the implementation of the vision and mission statement above, the following Core Values were adopted:
The BICA Qualification
Following the passing of the Accountants Act 2010, the Botswana Institute of Chartered Accountants (BICA) has introduced its own professional accountancy qualification.
The Botswana professional accountancy qualification evolved out of a realization that:
- A strong economy like that of Botswana needs a strong accountancy profession
- A strong profession needs a strong professional body
- A professional body will be stronger if it has its own qualification
- Students who enroll for the BICA qualification and subsequently become full members will have first loyalty to BICA.
BICA (with the support of the MFDP and the World Bank) entered into a twinning arrangement with one of the world`s leading professional bodies, The Institute of Chartered Accountants in England and Wales (ICAEW), to facilitate the development of the Botswana professional accountancy qualification.
- Students will receive a thorough grounding in ethics through the Structured Training in Ethics (STE) programme that will be delivered annually by BICA.
- BICA will be supported throughout by the use of the ICAEW examination scheme and joint BICA-ICAEW oversight.
Reciprocity between BICA and ICAEW membership will be a future outcome of the programme, subject to approval of the relevant ICAEW and BICA committees. Reciprocity will lead to wider international recognition and to international portability for the BICA qualification.
To read more about the BICA Qualification go to ‘Students’ section in this site.