This code was produced by: Botswana Accountancy Oversight Authority (BAOA)
The Code has adopted a principles-based approach which looks at the broader guidelines that are pragmatic, flexible and are suitable for a variety of possible circumstances. The approach contrasts with the rule-based approach that tries to list the precise requirements to be followed for an entity to comply with. While there is clarity as to what is expected or not expected to comply with, rules are easy to manipulate to satisfy what is required. The spirit of the guideline is often lost in all this process as the
legal form often takes precedence.
legal form often takes precedence.
