The Institute wishes to remind all stakeholders that the Accountants (Amendment) Act, 2020 was enacted in 2020 and the revised regulations have subsequently been signed by the Minister of Finance and Economic Development. The effective date has been set as 1st April 2022.
In an effort to encourage suspended members to restore their membership with the Institute before the implementation of the revised Act, the BICA Council has decided that those members who have been suspended should not pay membership subscription fee for up-to a maximumof 3 years of suspension including a 50% penalty for those three (3) years as it has been practice.
This therefore means that suspended members will only pay the 2022 annual subscriptions fees plus any applicable penalty for 2022 late renewals.
This moratorium will only be valid up to the 31st March 2022.
Suspended members should note that effective from 1st April 2022 they will be expected to pay membership for 3 years of suspension including a 50% penalty for those three (3) years in order for their membership to be restored.
We therefore appeal to all suspended members to take advantage of this moratorium and regularize their membership before implementation of the revised Act on 1st April 2022.
We also appeal to employers to encourage their employees to take advantage of this initiative as the revised Act will prohibit employers from hiring or contracting any accountancy service providers who have not registered with the Institute.
Should you require any further information on membership registration, kindly contact
Ms. Khumoetsile Modisa on telephone number: 3702308 or email email@example.com