BICA cracks down on unregistered accountants
Pauline Dikuelo | Thursday October 29, 2015 15:51
Speaking to Mmegi Business, BICA administration officer, Tumelo Tsheole warned accountants to register with the institute before January 31, 2016, or face the wrath of the law.
He said the warning is directed to at all qualified accountants working in the country as accountants or are providing accounting and related services.
“According to the law, all accountants working in the country have to comply with the Accountants Act of 2010 by registering with BICA as members upon attaining the requisite experience of two years,” said Tsheole.
He noted that this will ensure that employers are dealing with professionals who are properly regulated as well as ensure that those accountants remain relevant at all stages of their careers.
Failure to comply with the warning will attract a fine of P500,000. He said that this would bridge the knowledge gap that exists with regards to the institute and its mandate.
According to Tsheole, they have realised that there are many accountants operating in the country who have not registered with them, saying that this might jeopardise the profession’s reputation, as it will be difficult to identify fly-by-nights.
One of the core responsibilities of BICA is to increase the number of professional accountants in order to support the country’s growing economy. BICA is also responsible for developing qualified chartered accountants. “For one to register, they should just get online at our website and complete the two forms, direct administration form and the work experience checklist form and attach copies of the identity card, referees and confirmation letter from the employee,” he said.
Furthermore, Tsheole urged all accountants to come forward and register with them adding that by registering with BICA, this will ensure the protection of the profession.
“It is against this background that BICA is now giving all unregistered accountants working in the country until January 31, 2016 to register with the institute in compliance with the Accountants Act 2010. All individuals working in the country as accountants or providing accounting and related services but not yet registered with BICA must register by the set date,” BICA said in a statement recently.