In response management stated the following: 

 Provision for bad debts had been made on a case-by-case basis and was reviewed periodically 

 Accounts Receivable team was sent for training for credit control in June 2018, to better manage vetting and collections 

 Payment plans, credit checks and stop orders as detailed in the credit policy were being implemented. 

 Long outstanding debtors were being contacted and followed up. 

 All long outstanding debtors without contact details would be handed over to debt collection agencies and all untraceable debtors would be recommended for write off. 

## 123. Botswana Accountancy Oversight Authority 

The financial statements of Botswana Accountancy Oversight Authority for the financial year ended 31 December 2017 were audited by Deloitte & Touché, Certified Auditors, who were appointed by the Board in terms of the Financial Reporting Act, 2010. 

The Botswana Accountancy Oversight Authority is an independent oversight body of the accounting and auditing profession established to regulate the reporting of financial matters of public interest entities and the corporate sector. 

## 2.0 Accounts 

## 2.1 Audit Opinion 

In the opinion of the auditors: 

The financial statements presented fairly, in all material respects, the financial position of the Botswana Accountancy Oversight Authority as at 31 December 2017, and of its financial performance and cash flows for the year then ended in accordance with International Financial Reporting Standards. 

## 2.2 Financial Results 

The financial operations of the Authority showed a deficit of P473 600, compared to a surplus of P437 600 in the previous year. 

