BICA stands firm on suspended accountants
Friday, July 28, 2023 | 270 Views |
No retreat: Molatedi
The exact reasons behind the mass suspension are unclear but BICA officials have said the affected accountants were not complying with the requirements of BICA membership.
By law, all accountants operating in the country are required to register with BICA and comply with its standards and compliance protocols.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...