Notice to Public Interest Entities

The Botswana Accountancy Oversight Authority (the Authority) wishes to remind all its stakeholders that renewal of registration with the Authority as a Public Interest Entity (PIE), has commenced and the deadline for registration is 31 December 2025. This is pursuant to Regulations 4 and 5(2)(b) of the Financial Reporting Regulations, 2021.

In accordance with the Regulation 7 (2), entities which fail to renew registration as such or fail to pay the renewal of registration fee timeously shall be liable to pay a penalty of fifty percent (50 %) of the registration fee or renewal fee.

Entities which are required to register with the Authority as PIEs for this purpose, are defined in the Financial Reporting Act, as:

1. Any entity that has issued equity or debt securities for public subscription and which is listed in a Stock Exchange;
2. Any bank, deposit taking institution, or other institution that is subject to the supervision by the Bank of Botswana;
3. Any insurance company, pension and provident fund, collective investments undertaking, and any other institution that is subject to supervision by the Non-Bank Financial Institutions Regulatory Authority;
4. Any entity to which any (two (2)) of the following conditions are applicable in excess of an amount or number prescribed by the Minister in the Regulations –
   • a) Annual revenue of P200 million;
   • b) 150 employees,
   • c) The total assets of P150 million, or
   • d) Total liability of P50 million, not including shareholder’s equity, applicable at the end of the preceding accounting year, and

5. Any partly or wholly funded public body.

The thresholds at 4 above are determined based on the audited financial statements of the preceding accounting period. Therefore, entities that do not have audited financial statements for 2025, should register using the 2024 statements, and thereafter, submit the 2025 audited statements to the Authority once finalised.

For purposes of (2) and (3) above, these should exclude entities that do not have similar characteristics to those that are specifically listed, unless if they exceed any 2 of the thresholds at 4 above. For instance, the following are to be excluded:

1. Microlenders;
2. Pawn shops;
3. Bureax de change; and
4. Insurance Brokers and Agents.

All PIEs as defined above, which have not yet registered with the Authority are urged to register by the above-mentioned deadline, taking note that failure to do so is a breach of the Law which may attract significant penalties

Registration and renewals are done through completion of the forms which are available at www.baoa.org.bw, and once completed, should be submitted via email to registrar@baoa.org.bw.

Please contact Mr. Ishmael Moatshe at imoatshe@baoa.org.bw or telephone number 3919735 for any further clarification.