Key Benefits:
3. Application for registration as member of Institute
A person who wishes to be registered as a member of the Institute under section 28 of the Act, shall make an application in Form 1 set out in Schedule 1.
(1) The rules of the Institute have set out the following classes of membership-
(a) Accounting Technician;
(b) Associate Chartered Accountant;
(c) Associate Certified Professional Accountant;
(d) Fellow Chartered Accountant;
(e) Fellow Certified Professional Accountant;
(f) Certified Auditor; and
(g) Member Firm.
(2) The manner and form of application to the different classes of membership referred to under subregulation (1) shall be in Form 1 set out in Schedule 1 and accompanied by such fees as specified in Schedule 4.
5. Qualification for registration as member
(1) A person shall be qualified to be registered as a member of the Institute, where the person intends to register as an-
(a) Accounting Technician, that person-
(i) has passed the Association of Accounting Technicians (AAT) examinations or equivalent,
(ii) has obtained relevant practical experience of at least two years, and
(iii) is fit to be admitted as a member;
(b) Associate Chartered Accountant, that person-
(i) has passed the Botswana Professional Accountancy Qualification examinations,
(ii) has obtained the necessary technical experience as per the training requirements of the Institute, and
(iii) is fit to be admitted as a member;
(c) Associate Certified Professional Accountant, that person-
(i) is a member in good standing of another approved professional accountancy body recognised by the International Federation of Accountants, and
(ii) is fit to be admitted as a member;
(d) Fellow Chartered Accountant, that person-
(i) has been a member as an Associate Chartered Accountant for a continuous period of five years, and
(ii) in the opinion of the Council, meets the Continuing Professional Development requirements; or
(e) Fellow Certified Professional Accountant, that person-
(i) has been a member as an Associate Certified Professional Accountant of the Institute, or a member in good standing of an approved professional accountancy body recognised by the International Federation of Accountants, for a continuous period of five years, and
(ii) in the opinion of the Council, meets the Continuing Professional Development requirements.
(2) Subject to subregulation (1), a person who wishes to be admitted as a member after passing the Botswana Professional Accountancy Qualification, shall prove to the Institute that he or she has completed a period of approved training of not less than 450 days in accordance with the Training Agreement.
The Institute shall register a person as a member of the Institute in accordance with section 28 of the Act, where the Council is satisfied that the person meets the requirements of these Regulations.
(1) A person who has been removed from the register as a member of the Institute may make an application to the Institute for re-registration, in Form 2 set out in Schedule 1.
(2) An application made under subregulation (1) shall be accompanied by such fee as specified in Schedule 4.
8. Renewal of membership and annual subscription
(1) A member shall renew his or her membership in Forms 3,4,5 and 6 set out in Schedule 1, and upon payment of a subscription fee as specified in Schedule 4.
(2) Payment referred to in subregulation (1) shall be made on the 1st of January of every year.
(3) Where a member fails to renew his or her membership or pay the annual subscription by the 1st of January, the member shall be subject to payment of a penalty of 50 per cent of the subscription fee.
(4) The annual subscription fee to be paid under this regulation shall be determined by the Council, and approved by members at a general meeting.
(5) Notwithstanding subregulations (2) and (3), the Institute may allow a renewal and payment of subscription to be made up to the 31st of March of every year for every member, except for a certified auditor, who shall make payment in terms of subregulation (2).
(6) A member who fails to renew his or her membership, or fails to pay the subscription fee by the 31 st of March in any year shall be removed from the Register.
