Notice to Auditors and Audit Firms
The Botswana Accountancy Oversight Authority (the Authority) wishes to remind all Auditors and Audit Firms that the deadline for RENEWAL of registration with the Authority as a Certified Auditor or Certified Audit Firm is 31 December 2025. This is pursuant to Regulations 13 and 14 of the Financial Reporting Regulations, 2021.
In accordance with the Regulations, Auditors and Audit Firms who fail to pay the renewal of registration fee timeously shall be liable to pay a penalty of fifty percent (50 %) of the subscription or registration renewal fee.
REQUIREMENTS FOR RENEWAL OF REGISTRATION
- Auditors and Audit Firms of non-PIE are to complete Forms 20 (A)1 and 21(A)2 , whilst Auditors and Audit firms of PIE are required to complete Forms 20 (B)3 and 21(B)4 as set out in the Schedule 1 of the Financial Reporting Regulations, 2021, and in both cases, attach the annexure listed on the Forms. In terms of the said Forms, renewal must be done no later than 3 months before expiration of the current registration period.
- In terms of Rules 16(2)(d) and Rule 19 of the BAOA Rules 2022, and in addition to the requirements stated in the renewal forms, the Auditor must provide evidence of the required Continuing Professional Development (CPD) carried out during the 12 months immediately prior to the date of application for renewal.
- 2.1 Auditors and Audit Firms must take note to comply with the CPD Policy attached hereto. Pursuant to the Policy,the Auditor is expected to complete the Annual CPD Declaration Form which is downloadable from the BAOA website.
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- 2.2 Copies of certificates produced as evidence must be appropriately certified.
- All Certified Auditors must, at the time of renewal of their registration, continue to meet the requirements for initial registration as per the initial registration forms (Form 8(A) and (B)) set out in Schedule 1 to the Financial Reporting Regulations, 2021). The Authority reserves the right to request proof of continuing satisfaction of these requirements during renewal, or at any point whatsoever.
RENEWAL PROCESS
- Upon receipt of the renewal forms and if the Auditor or Audit Firm meets the requirements, an invoice will be sent to the Auditor or Audit Firm, and payment of registration renewal fees must be made within the timelines stated above.
- A certificate of registration for the next calendar year will be issued after payment of the relevant fees.
Auditors and Audit Firms who continue to render services without being compliant with this Notice (and the Law, Regulations and the Rules as stated herein) will be subjected to appropriate sanctions as per the Financial Reporting Act. Completed forms and supporting documents should be sent strictly by email to registrar@baoa.org.bw.
Please contact Mr. Ishmael Moatshe at imoatshe@baoa.org.bw or telephone number 3919735 for any further clarification.
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