BICA, API partner for public sector accountants
Sharon Mathala | Tuesday June 13, 2023 06:00
Through the agreement, public sector accountants will be able to be trained and up skilled on public sector administration and financial management and reporting.
“Through API, public sector accountants will be trained to get deep understanding of public sector administration and public financial management and reporting,” explained BICA CEO, Verrily Molatedi at a signing ceremony.
“For Botswana, this comes at an opportune time when the country is reforming its Public Financial Management to transition from cash accounting to accrual accounting.” BICA is mandated by the Accountants Act to promote the development of the accounting profession. This mandate includes participation in public sector reforms.
“It is for this reason that the Institute takes active participation to influence the Public Financial Management reforms through the relationships with various ministries and in particular our parent ministry being the Ministry of Finance. “Notably both the Office of the Accountant General and Office of the Auditor General are key partners in reforming the public sector,” she added.
According to Molatedi, it is important for public sector accountants to have extensive understanding of the public sector before they can do any form of financial reporting on its operations.
This understanding is to ensure that accountants are alert to the nature of transactions they face. “The public sector by its nature is different from private sector in that a large part of it is for social benefit and therefore most transactions are non-exchange,” the CEO said.
“Accountability is enhanced when personnel with the relevant knowledge and competence carry out reporting on such transactions. “The programme will therefore significantly improve the quantum of qualified public sector accountants in the country and lessen reliance on foreign skills while allowing the country to continue tapping into a knowledge-based economy as enlisted in Vision 2036.”
For his part, API CEO, Evans Mulera said the programme exists to ‘cure’ the slow progress in the implementation of Public Finance Management Reforms within countries. He added the API has noted that this is caused by the shortage of professional accountants and auditors that can provide governments with timely and relevant information for effective and efficient decision-making.
“This situation is further affected by the majority of existing public sector accountants and auditors not being subject to regulation by a professional organisation responsible for ensuring continuous up-skilling – generally referred to as continuous professional development,” said Mulera. Acting Auditor General, Keneilwe Senyarelo said there is need for more professional accountants in government.
“The office of the Auditor General requires more professional accountants than we currently have,” she said. “This is even more critical given the current accrual project spearheaded by Office of the Accountant General. “Reform of the current government reporting system is envisioned to enhance accountability and transparency.”