123. Botswana Accountancy Oversight Authority  2.0 Accounts 2.1 Audit Opinion 2.2 Financial Results In response management stated the following:  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.  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.  The financial operations of the Authority showed a deficit of P473 600, compared to a surplus of P437 600 in the previous year.  102   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. 