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Accounting, the organisations and the designations

 

Accountancy, the organisations and the designations

Accounting is a well-regulated profession and there are several international and local professional accounting organisations (PAOs) that are recognised in South Africa. Some of them have their own areas of specialisation and may be more appropriate for you depending on your area of specialisation Before we go into the details of the different specialisations, we’ll first cover the general levels of qualification that are available in accounting.

Whether you’re looking at becoming an accountant or are looking to hire an accountant and need help making sense of all the letters after their name, this article should have your answers.

Please use the outline below to navigate this article more easily.

Outline

Career paths for accountants explained:

Accountants are crucial to modern business and finance and they are needed for many different roles in private business and the public sector. These roles vary hugely in the level of responsibility and expertise required, so although we use the term “accountant” as a label for all people working in accounting, there are in fact many different types of accountant.

As with most professions, the best paying accounting jobs are those that require the highest level of qualification and the most experience. At the top end of the spectrum are the certified financial officers, who have completed several years of postgraduate studies, worked in senior roles for many years and passed several high-level board exams. While the career path to become a financial officer can span well over a decade (8 years of work experience plus 7 years of studies), there are many lower level accounting positions and recognised designations that can be achieved with just a diploma or certificate and 2 years of practical experience.

As we mentioned, the accounting industry is self regulated by several professional accounting organisations (PAOs) that operate both locally and globally. These PAOs assure that their members are sufficiently skilled for their roles and that they adhere to a strict set of ethics. Most have different membership levels and will provide support for you to work your way up their ranks once you’ve got in at the bottom.

Qualifications and designations by NQF level

Here are all of the country’s accounting and tax practitioner designations along with the corresponding academic qualifications, all ranked by the national qualifications framework (NQF) level.

In the below list we have included the names of every current accounting and accountancy related qualification recognised by the South African Qualifications Authority (SAQA). In many cases a qualification is offered by several institutions, each of which requires its own SAQA accreditation to offer that degree, diploma or certificate. In other cases a qualification might be offered by only one institution. We have included all of them here for the sake of completeness should you have one of the less commonly named qualifications. If you would like to see which institutions offer a particular qualification, you can copy the name into the “qualification title” box in this qualification search on the SAQA website

As a general rule, the NQF levels match up with the following academic and vocational levels:

  • 4: Matric or school leaving certificate
  • 5: Higher certificate
  • 6: Diploma or advanced certificate
  • 7: Postgraduate certificate, advanced diploma or bachelor degree
  • 8: Postgraduate diploma, honours degree or bachelor degree (usually a 4-year bachelors)
  • 9: Master’s degree
  • 10: Doctoral degree

Recognised Prior Learning (RPL)

In some cases, applicants with a lower NQF level qualification can gain access through recognised prior learning (RPL) channels or enter into work learnership programmes and write additional entry exams to become recognised as a qualified member by the association.

For the sake of comparison, we have based the NQF levels on the level of academic qualification for basic entry. In cases where RPL admission is possible, this has been noted in the designation write-up under the South African professional accounting associations section of this article.

Qualifications before 2009

It is also worth mentioning that the structure of the NQF underwent a major change in 2009 that saw the levels increase from just 8 to 10, to better accommodate the different levels of tertiary qualifications. If you completed a tertiary qualification before 2009, then it is very likely that you are now at a higher NQF level.

Challenges linking qualifications to designations

It is important to understand the differences between accounting designations and qualifications. Qualifications are academic credentials for courses completed, while a professional designation is provided by a professional accounting organisation (PAO) to show that the member fulfils certain criteria.

A certain level of academic qualification is one of those criteria, but it is not the only requirement. In many cases the professional associations also require additional tests and exams beyond the courses required for entry, meaning that although a designation requires for example a bachelor’s degree at NQF level 7, the additional workplace training and examinations mean that registered members have learned more than someone who had just completed the basic degree.

In most cases, the designations themselves do not always have an NQF level, but they are underpinned by academic qualifications that do have NQF levels.

SA tax practitioner requirements

All applicant tax practitioners are from 1 July 2022 onwards required to complete a SARS Readiness Programme. This is a short online training session consisting of 8 modules and a final assessment at the end, for which the applicant must attain a mark of 90% to be registered with the South African Revenue Service (SARS).

Disclaimer

Every effort has been taken to ensure that all information here is correct and up to date, however, we encourage readers to contact the relevant PAO directly if considering applying for any of the accounting or tax specialist designations.

Regulatory environments sometimes change and organisations continue to evolve and adapt. For example, SARS introduced the new requirement for applicant tax practitioners to complete the SARS Readiness Programme mentioned above over the course of writing this article.

 

NQF 5

This is the first level of qualification after leaving school. These are mostly certificates and higher certificates along with some diplomas. All of the country’s professional association designations require a higher level of academic qualification than this as part of their basic requirements. That said, many of the lower designations do make allowances for recognised prior learning (RPL) and relevant work experience. This means that if you hold one of these qualifications and also have a few years of experience, then it is possible that you can still apply.

Professional accounting designations requiring NQF level 5

Accounting qualifications with NQF 5

  • Certificate: Accounting
  • Diploma in Public Sector Accounting
  • Higher Certificate in Accounting
  • Higher Certificate in Accounting Practice
  • Higher Certificate: Accounting
  • Higher Certificate: Commerce: Cost and Management Accounting
  • Higher Certificate: Commerce: Financial Accounting
  • National Diploma: Technical Financial Accounting
  • Occupational Certificate: Management Accounting Officer
  • Certificate: Bookkeeping and Accountancy
  • Higher Certificate in Accountancy
 

NQF 6

This is the second level of qualification after leaving school. These qualifications are mostly diplomas along with some higher or advanced certificates. This also marks the entry-level designation for some of the professional accounting associations. As mentioned above, there are also RPL and work experience options for some people who only have an NQF 5 level qualification.

Professional accounting designations requiring NQF level 6

Accounting qualifications with NQF 6

  • Advanced Certificate in Accounting
  • Advanced Certificate in Accounting Sciences
  • Advanced Certificate in Cost and Management Accounting
  • Advanced Certificate in FET Accounting Teaching
  • Diploma in Accounting
  • Diploma in Business Accounting
  • Diploma in Business Management in Accounting
  • Diploma in Cost and Management Accounting
  • Diploma in Financial Accounting
  • Diploma in Management Accounting
  • Diploma in Public Finance and Accounting
  • Diploma: Accounting
  • Diploma: Accounting Sciences
  • Diploma: Commerce: Cost and Management Accounting
  • Diploma: Commerce: Financial Accounting
  • Diploma: Financial Accounting
  • Higher Diploma: Accounting
  • Higher Diploma: Commerce: Cost and Management Accounting
  • Higher Diploma: Commerce: Financial Accounting
  • National Diploma: Financial Accounting
  • National Diploma: Management Accounting
  • Occupational Certificate: Management Accounting Specialist
  • Diploma in Accountancy
  • Diploma: Accountancy
 

NQF 7

This is the third level of qualification after leaving school. These are mostly made up of three-year bachelor degrees and advanced diplomas. This is also the level at which people with a professional accounting designation are able to operate more independently as they no longer need the oversight of a more senior accountant, as is mostly the case with the entry-level designations shown in the section above.

UJ Online offers the Bachelor of Commerce in Accounting degree at NQF level 7.

Professional accounting designations requiring NQF level 7

Accounting qualifications with NQF 7

  • Advanced Diploma in Accounting
  • Advanced Diploma in Cost and Management Accounting
  • Advanced Diploma in Management Accounting
  • Advanced Diploma: Accounting Sciences
  • Advanced Diploma: Accounting Sciences
  • Bachelor of Accounting
  • Bachelor of Accounting Sciences in Financial Accounting
  • Bachelor of Accounting Sciences in Internal Auditing
  • Bachelor of Accounting Sciences in Management Accounting
  • Bachelor of Accounting Sciences: Taxation
  • Bachelor of Commerce Honours in Accounting
  • Bachelor of Commerce in Accounting
  • Bachelor of Commerce in Accounting Science
  • Bachelor of Commerce in Accounting Sciences
  • Bachelor of Commerce in Cost and Management Accounting
  • Bachelor of Commerce in Financial Accounting
  • Bachelor of Commerce in Financial and Management Accounting
  • Bachelor of Commerce in Management Accounting
  • Bachelor of Commerce: Accounting Sciences
  • Bachelor of Commerce: Financial Accounting
  • Occupational Certificate: Management Accounting Practitioner
  • Associate General Accountant
  • Bachelor of Commerce in Management Accountancy
 

NQF 8

This is the fourth level of qualification after leaving school. It is also seen as a post-graduate level. While some of these are four-year bachelor’s degrees, most are made up of one-year honours courses that can only be studied after completing a relevant three-year undergraduate bachelor’s.

Professional accounting designations requiring NQF level 8

Accounting qualifications with NQF 8

  • Bachelor of Accounting Honours
  • Bachelor of Accounting Science
  • Bachelor of Accounting Science Honours
  • Bachelor of Commerce Honours in Accounting
  • Bachelor of Commerce Honours in Accounting Science
  • Bachelor of Commerce Honours in Cost and Management Accounting
  • Bachelor of Commerce Honours in Financial Accounting
  • Bachelor of Commerce Honours in Management Accounting
  • Bachelor of Commerce Honours: Accounting
  • Bachelor of Commerce Honours: Accounting Sciences
  • Bachelor of Commerce Honours: Financial Accounting
  • Bachelor of Commerce Honours: Management Accounting
  • Postgraduate Diploma in Accounting
  • Postgraduate Diploma in Accounting Sciences
  • Postgraduate Diploma in Cost and Management Accounting
  • Postgraduate Diploma in Finance and Accounting
  • Postgraduate Diploma in Investigative and Forensic Accounting
  • Postgraduate Diploma in Management Accounting
  • Postgraduate Diploma in Public Sector Accounting
  • Postgraduate Diploma: Accounting
  • Postgraduate Diploma: Applied Accounting Sciences
  • Postgraduate Diploma: Forensic Accounting and Fraud Examination
  • Postgraduate Diploma: Management Accounting
  • Certificate: Chartered Certified Accountant
  • Chartered Accountant: Auditing
  • Occupational Certificate: Management Accountant
  • Post-graduate Diploma: Professional Accountant in Practice
  • Postgraduate professional qualification: Professional Accountant in Business
  • Professional Qualification: Chartered Management Accountant
  • Postgraduate Diploma in Accountancy
  • Postgraduate Diploma in Chartered Accountancy
  • Postgraduate Diploma in General Accountancy
  • Postgraduate Diploma in Specialised Accountancy
  • Postgraduate Diploma: Accountancy
  • Postgraduate Diploma: Forensic Accountancy and Investigation
 

NQF 9

People who have an NQF level 9 have completed a Masters, which usually requires 5 to 6 years of studies after school. Although this is not the highest academic level for accounting, this is the highest level required for acceptance into any of the professional accounting association designations.

UJ Online offers a Master of Business Administration at NQF level 9. Although it is not an accounting-specific degree, it does include accounting as one of its core modules.

Professional accounting designations requiring NQF level 9

Accounting qualifications with NQF 9

  • Master of Accountancy in Financial Accounting
  • Master of Accounting
  • Master of Accounting Science
  • Master of Accounting Sciences
  • Master of Commerce in Accounting
  • Master of Commerce in Accounting Sciences
  • Master of Commerce in International Accounting
  • Master of Commerce in Management Accounting
  • Master of Management Accounting
  • Master of Management in Management Accounting
  • Master of Philosophy in Accounting Sciences
  • Master of Accountancy
  • Master of Accountancy in Financial Accounting
  • Master of Accountancy in Taxation
  • Master of Applied Accountancy
  • Master of Commerce: Accountancy
 

NQF 10

This is the highest recognised level of academic qualification in the country. Those who chose to take their studies this far are generally more academically focused. This is a higher level of qualification than is required for any of South Africa’s professional designations.

Accounting qualifications with NQF 10

  • Doctor of Accounting Science
  • Doctor of Commerce in Accounting
  • Doctor of Philosophy in Accounting Sciences
  • Doctor of Philosophy: Accounting
  • Doctor of Philosophy: Forensic Accounting
  • Doctor of Accountancy
  • Doctor of Commerce in Accountancy
 

South African accounting associations and their designations

There are several recognised professional associations for accountants in South Africa, with each having its own hierarchy and set of different professional designations that they recognise. We’ve put together details and entry requirements for each designation across all of South Africa’s professional associations for accountants and tax practitioners.

In addition to the academic and practical requirements for acceptance by any of these professional accounting associations (PAOs), members also commit to annual membership fees, a code of conduct and what is called Continuing Professional Development (CPD). This means that each year the members carry on with their own training through things such as seminars or private research. This ensures that members stay up to date with the latest developments within both the wider field of accounting and in their own field of specialisation, should they have one.

To easier navigate through this section, you can click on any of the names in the outline below to jump to that section.

PAO professional designations outline

 

South African Institute of Chartered Accountants (SAICA)

The South African Institute of Chartered Accountants (SAICA) claims to be “the leading accountancy body in South Africa and one of the prominent institutes globally”. In their website introduction they claim to be “at the forefront of developing, influencing and leading the highest standards of ethics, education and professional excellence in the delivery of quality accountancy skills“. SAICA’s core roles are the safeguarding of the professional standards of their designations; advancing and maintaining the relevance of the profession and regulating the members’ and associates’ professional conduct against the SAICA Code.

To give an idea of SAICA’s popularity among South African accountants as well as its various designations, as of March 2022 SAICA had a total of 54,460 members. This was made up of 49,784 chartered accountants, 4,258 associate general accountants and 418 accounting technicians.

Chartered Accountant (SA)

 

Chartered Accountant (SA) – SAICA

The world’s first accounting associations were established in Scotland in 1854 and members were allowed to operate by royal charter, giving them the name Chartered Accountants. Today there are independent chartered accounting associations in most English speaking countries other than the US. Becoming a Chartered Accountant CA(SA) offers global mobility and the flexibility to work in almost any field of business or finance.

Admission requirements:

  • Academic: BCom or equivalent AND Honours, also called the Certificate in the Theory of Accounting (CTA) (must be SAICA approved). NQF level: 8
  • Practical: 3 to 5 years training work contract
  • Exams: The Initial Test of Competence (ITC) can be written after completing the CTA. The Assessment of Professional Competence (APC) can only be written after completion of the ITC and at least 22 months’ experience under the applicable learnership.
  • CPD: 120 hours in a three-year rolling cycle with at least 60 hours being verifiable. A minimum of 20 hours must be recorded each year.
  • SAQA certificate

Associate General Accountant (SA)

 

Associate General Accountant (SA) – SAICA

The Associate General Accountant designation, otherwise shortened to an AGA(SA), plays key managerial roles within diverse sectors of the economy. Professionals who hold this qualification are expected to have a strong set of technical accounting and financial skills to be able to navigate complex business environments.

Associate General Accountants are qualified to act as accounting officers and are able to submit annual financial statements for companies and other entities.

Admission requirements:

  • Academic: BCom or equivalent AND Honours or postgraduate diploma in accounting (SAICA approved). NQF level: 7
  • Practical: Completed 3 to 5 year SAICA training contract OR at least 4 years’ relevant work experience
  • Exams: Training Equivalence Assessment (TEA)
  • SAQA certificate

Accounting Technician (SA)

 

Accounting Technician (SA) – SAICA

The Accounting Technician (SA) designation is designed to professionalise entry-level finance professionals and equip them with practical expertise required to prepare and produce reliable financial information that can be trusted. As an entry-level designation, accounting technicians cannot act as accounting officers. While they are able to compile internal financial statements, they are not qualified to provide an independent review and audit as set out by the Companies Act.

Admission requirements:

  • Academic: Learnership work programme of 12 – 24 months (There are also various RPL intake options for NQFs 3, 4 and 5). NQF level 6
  • Practical: 1- or 2-year registered learnership OR 5 years relevant work experience
  • Exams: Certificate Accounting AND Test of Professional Competence OR Certificate Accounting Technician
  • SAQA certificate: Fellow Member and Member
 

South African Institute of Professional Accountants (SAIPA)

The South African Institute of Professional Accountants (SAIPA) is the largest professional association in South Africa for qualified Professional Accountants (SA) and represents their interests in practice, commerce, industry, academia and the public sector. It actively advocates and promotes ethical and responsible behaviour within the profession in order to retain public trust and confidence.

At the time of writing, the most recent membership figures were given in SAIPA’s 2020 annual report, which showed that it had 10,991 professional accountants and 178 professional accounting technicians. SAIPA’s membership also included 3,542 professional tax practitioners, 46 professional tax technicians and 117 professional tax specialists.

Accounting Technician (SA) - SAIPA

 

Accounting Technician (SA) – SAIPA

An Accounting Technician (SA) performs support functions to the Professional Accountant (SA), including the accounting functions, the preparation of working papers, working papers for tax returns and the preparation of financial reports. Notably, an accounting technician cannot sign off financial statements.

Admission requirements:

  • Academic: Completion of the second year of a Bachelor of Commerce with Taxation as a major OR a National Diploma in Taxation. (NQF level 6 equivalent)
  • Practical: At least 18 months of verifiable work experience
  • Exams: Centre for Tax Excellence (CoTE) exam.
  • CPD: Total 36 CPD hours, 20 of which can be unstructured. For structured hours, they must complete 4 for IFRS/Financial Reporting, 4 for Tax, 2 for Ethics and 10 for ‘other”.

Professional Accountant (SA) - PA(SA)

 

Professional Accountant (SA) – SAIPA

A Professional Accountant (SA) goes beyond merely accounting and preparing statements and is a business consultant/advisor that actively participates in the decision-making processes of a business.

Admission requirements:

  • Academic: SAIPA-accredited Bachelor of Commerce degree, or equivalent, with Financial Accounting 3; Taxation 1; Auditing 1 / Internal Auditing 2 / Internal Control and Code of Ethics; Corporate Law 1 / Commercial Law 2; and Management Accounting (NQF level 8)
  • Practical: Three year learnership at a SAIPA Accredited Training Centre (ATC) OR six years of verifiable experience OR a completed training at another accredited professional accounting body
  • Exams: 4-hour SAIPA Professional Evaluation exam
  • CPD: Total 36 CPD hours, 20 of which can be unstructured. For structured hours, they must complete 4 for IFRS/Financial Reporting, 4 for Tax, 2 for Ethics and 10 for ‘other”.
  • SAQA certificate

Professional Tax Technician (SA) - SAIPA

 

Professional Tax Technician (SA) – SAIPA

The Professional Tax Technician (SA) designation allows for all the registration with SARS as a Tax Practitioner. They are able to carry out may administrative tasks relating to tax, but they usually work in a support role for a Tax Professional as they are not authorised to submit VAT or PAYE returns.

They are authorised to register individuals for income tax, prepare and file income tax returns. For VAT and PAYE, they are able to carry out registrations, but are only able to prepare returns and not submit them. They are also able to post basic notice of objections for all tax types, check the tax compliance status of a tax payer, attend to enquiries in support of Tax Professionals and attend to SMEs without complex transactions.

Admission requirements:

  • Academic: National Diploma in Taxation with Accounting (NQF level 6)
  • OR passed Commerce degree second year with Taxation as a major and at least Accounting 3
  • Practical: 18 Months or more of verifiable practical experience in a tax environment
  • Exams: CoTE Professional Tax Examination
  • CPD: Total 40 CPD hours, 20 of which can be unstructured. For structured hours, they must complete 10 hours of tax, 4 hours of Financial Reporting, 2 hours of ethics, and 4 hours of other CPD.

Professional Tax Practitioner (SA) - SAIPA

 

Professional Tax Practitioner (SA) – SAIPA

A Professional Tax Practitioner (SA) is able to register with SARS as a Tax Practitioner and can offer all the services offered by a Professional Tax Technician (SA). In addition, they can register all tax types, prepare and file income tax returns for individuals and any business as well as preparing and filing of PAYE and VAT returns.

Admission requirements:

  • Academic: Bachelor degree with Tax as a major subject, and at least Accounting 3 (NQF level 7)
  • Practical: Three years’ of verifiable practical experience in a tax environment
  • Exams: Write and pass the CoTE Professional Tax Examination
  • Total 40 CPD hours, 20 of which can be unstructured. For structured hours, they must complete 10 hours of tax, 4 hours of Financial Reporting, 2 hours of ethics, and 4 hours of other CPD.

Professional Tax Specialist (SA) - SAIPA

 

Professional Tax Specialist (SA) – SAIPA

A Professional Tax Specialist (SA) can register with SARS as a practitioner and perform all the services performed by a Professional Tax Practitioner (SA). They are also able represent tax payers in court, write tax opinions and mediate tax disputes.

Admission requirements:

  • Academic: A postgraduate qualification in taxation (NQF level 8)
  • Practical: At least six years’ of experience in an advanced tax environment OR full SAIPA membership with a relevant Master’s
  • Exams: Write and pass the CoTE Professional Tax Examination
  • CPD: Total 40 CPD hours, 20 of which can be unstructured. For structured hours, they must complete 10 hours of tax, 4 hours of Financial Reporting, 2 hours of ethics, and 4 hours of other CPD.
 

Southern African Institute for Business Accountants (SAIBA)

The Southern African Institute for Business Accountants (SAIBA) operates across southern Africa but is based in South Africa. It claims to be the number one professional body for accountants and tax practitioners across the African continent.

According to their website, they have more than 6,500 members, but they do not provide a breakdown of their membership according to the different designations.

Business Accountant (SA) - SAIBA

 

Business Accountant (SA) – SAIBA

The Business Accountant (SA) designation is aimed at those wanting to carry out entry-level finance roles.

Admission requirements:

  • Academic: Any national diploma or degree from an accredited institute (NQF level 6 or higher)
  • Practical: 2 years relevant finance department experience or as a trainee in practice.
  • Exams: Completion of a course and assessment in ethics.
  • CPD: Must complete at least 20 hours of relevant CPD, of which 10 hours must be verifiable. This was recently reduced from 40 hours and does not yet reflect on the SAQA certificate.
  • SAQA certificate

Business Accountant in Practice (SA) - SAIBA

 

Business Accountant in Practice (SA) – SAIBA

SAIBA describes the Business Accountant in Practice (SA) as its official designation for accounting officers, licensed independent reviewers and tax practitioners.

Admission requirements:

  • Academic: Commerce based National Diploma or Degree from an accredited institute of higher learning, that includes the 5 following subjects: Accounting III, Auditing II, Tax II, Management Accounting II, Corporate Law II. (NQF level 7 or higher)
  • Practical: 4 years relevant finance department experience in accounting and tax OR 3 years as a trainee in practice
  • Exams: Completion of a course and assessment in ethics.
  • Completion of the SAIBA Annual Practice License Part 1 and Part 2
  • CPD: Must complete at least 40 hours of relevant CPD, at least 25 of which are verifiable. Members may forward 25 hours of credit from one year to the next.
  • SAQA certificate

Certified Business Accountant (SA) - SAIBA

 

Certified Business Accountant (SA) – SAIBA

The Certified Business Accountant (SA) is SAIBA’s official designation for financial managers. With a focus on management, CBAs are able to manage all aspects of a finance or accounting department. Typical job titles for people with this designation include finance controller, credit controller, comptroller, corporate controller, finance lawyer, commercial lawyer, investment bankers, relationship manager, relationship banker, procurement manager and treasury analyst.

Admission requirements:

  • Academic: B Com Hons, CTA, or commerce based Advanced Diploma. (NQF level 8 or higher)
  • Practical: 2 years operational level finance dept experience or as a trainee in practice OR 4 years relevant experience in finance department at a managerial level
  • Exams: Employer confirmation you achieved 34 critical competencies at a comprehension level AND completion of a course and assessment in ethics AND completion of a course in technology and business
  • CPD: Must complete 30 hours a year of which at least 15 must be verifiable
  • SAQA certificate

Certified Financial Officer (SA) - SAIBA

 

Certified Financial Officer (SA) – SAIBA

A Certified Financial Officer (SA) works within the strategic level of a finance or accounting department. Typical roles eligible for the designation include: chief financial officer, finance director, finance executive, head of finance, chief accountant or senior financial manager.

Admission requirements:

  • Academic: B Com Hons in Accounting, Law, or Engineering OR a CTA or commerce-based Advanced Diploma AND Executive education at an MBA level NQF9 or higher OR hold a recognised professional designation at a chartered level (NQF level 9)
  • Practical: 2 years relevant experience at an operational level in a finance department or as a trainee in practice AND 4 years relevant experience at a managerial level in a finance department AND 4 years relevant experience at a strategic level in a finance department AND you have the job title FD, senior or group FM, CFO or equivalent AND you work for a large company with turn-over of more than R30 million
  • Exams: Confirmation by employers that you achieved 34 critical competencies, at a mastery level AND completion of a course and assessment in ethics AND completion of a course in leadership
  • CPD: Must complete 40 hours a year of continuing professional development, of which 20 must be verifiable.
  • SAQA certificate
 

Southern African Institute of Government Auditors (SAIGA)

The Southern African Institute of Government Auditors (SAIGA) advances public accountability and auditing in its widest sense. It represents Registered Government Auditors (RGAs) in the public sector and in academia. The RGA is considered the highest professional designation within public sector auditing.

Registered Government Auditor - SAIGA

 

Registered Government Auditor – SAIGA

A Registered Government Auditor (RGA) is a professional who is specifically equipped to audit in the public sector.

Admission requirements:

  • Academic: NQF Level 7 commerce qualification with passes in Financial Accounting 3; Auditing 3, Management Accounting/ financial management; Taxation; Commercial/Corporate Law; and Internal Auditing 3 (exact names may differ)
  • Practical: 18 months public sector auditing practical experience of SAIGA articles.
  • Exams: Government Auditing Specialism Programme (GASP) assessment
  • CPD: Must complete 180 hours of CPD every 4 years, of which at least half must be verifiable.
  • SAQA certificate
 

Institute of Accounting and Commerce of South Africa (IAC)

The Institute of Accounting and Commerce of South Africa (IAC) is another recognised professional body that aims to maintain the ethical standards of the profession and hold its members to high standards. As well as having various designations for accountants, it also has several designations relating to tax.

Technical Accountant - TA

 

Technical Accountant – IAC

Technical Accountants are also know as bookkeepers and they provide support to Professional Accountants. They are involved in day-to-day practical bookkeeping and the preparation of working paper files. A Technical Accountant is allowed to prepare financial statements for sole proprietors and partnerships.

Admission requirements:

  • Academic: A Diploma in Accounting at NQF Level 6 OR a Higher Certificate in Accounting at NQF Level 5.
  • RPL: Applicants without a formal qualification who have worked as a bookkeeper or accountant for at least 5 years can be admitted.
  • Practical: Completed two years accounting training guided by a registered accountant.
  • Exams: None (although the IAC board is reviewing this)
  • CPD: Must complete 20 hours a year (10 structured + 10 unstructured)
  • SAQA certificate

Financial Accountant in Commerce - FAC

 

Financial Accountant in Commerce – IAC

Duties of a Financial Accountant in Commerce (FAC) include the preparation of annual financial statements for their employers or clients and the control, gathering, analysis and interpretation of financial information. Notably, a Financial Accountant in Commerce cannot act as an Accounting Officer.

Admission requirements:

  • Academic: Accounting qualification with a minimum SAQA rated NQF Level 7 with Financial Accounting 3
  • Practical: 3 years practical accounting experience under the guidance of a registered Accountant, including the writing up of books of prime entry and preparation of financial statements complying with IFRS or IFRS for SMEs
  • Exams: 3 hour written evaluation followed by a 2 hour oral evaluation
  • CPD: Must complete 40 hours a year (20 structured + 20 unstructured)
  • SAQA certificate

Financial Accountant in Practice - FAP

 

Financial Accountant in Practice – IAC

The Financial Accountant in Practice (FAP) designation allows individuals to act as an accounting officer and provide accountancy services to companies, close corporations, partnerships, sole proprietors, trusts and various other types of small business.

Admission requirements:

  • Academic: Accounting qualification with a minimum SAQA rated NQF Level 6 (pre 2009) and NQF Level 7 (post 2009) with the following core subjects: Financial Accounting 3, Taxation, Company Law, Auditing 1 or Internal Auditing 2
  • Practical: 3 years supervised training under a registered accounting officer OR 6 years relevant accounting experience at managerial or supervisory level.
  • Exams: 3 hour written evaluation followed by a 2 hour oral evaluation
  • CPD: Must complete 40 hours a year (20 structured + 20 unstructured)
  • SAQA certificate

Independent Accounting Professional - IAP

 

Independent Accounting Professional – IAC

IAC’s Independent Accounting Professional designation performs the same duties as an Accounting Officer; however, the Independent Accounting Professional is allowed to do reviews of companies.

Admission requirements:

  • Academic: An Accounting qualification with at least NQF Level 7 (post 2009) with Taxation, Company Law, Auditing 1 or Internal Auditing 2
  • Practical: 3 years supervised training under a registered accounting officer OR 6 years relevant accounting experience at managerial or supervisory level.
  • Exams: 3 hour written evaluation followed by a 2 hour oral evaluation
  • CPD: Must complete 40 hours a year (20 structured + 20 unstructured)
  • SAQA certificate

Associate Tax Practitioner - ATP

 

Associate Tax Practitioner (ATP) – IAC

The IAC awards the Associate Tax Practitioner (ATP) designation to general tax practitioners and bookkeepers involved in the accounting and tax departments of businesses and small accounting practices. Legally, any person who offers tax services or advice in South Africa needs to be registered as a tax practitioner with a recognised controlling body.

Admission requirements:

Admission requirements:

  • Academic: Accounting diploma or higher with a subject in tax, accounting or commercial, company or corporate law (NQF level 6)
  • RPL: NQF Level 4 plus 5 years verifiable practical tax experience and commitment to obtain an NQF level 5 qualification within 3 years
  • Practical: None
  • Exams: 2 hours written and oral evaluation conducted by a registered IAC assessor
  • CPD: Must complete 15 hours a year (9 structured + 5 unstructured)
  • Saqa certificate

Certified Tax Practitioner – CTP

 

Certified Tax Practitioner – IAC

The Certified Tax Practitioner designation is also known as a CTP.

Admission requirements:

  • Academic: Accounting diploma or higher with a subject in tax, accounting or commercial, company or corporate law (NQF level 6)
  • RPL: NQF Level 4 plus 5 years verifiable practical tax experience and commitment to obtain an NQF level 5 qualification within 3 years
  • Practical: None
  • Exams: 2 hours written and oral evaluation conducted by a registered IAC assessor.
  • CPD: Must complete 15 hours a year (9 structured + 5 unstructured)
  • Saqa certificate

Business Rescue Practitioner - BRP

 

Business Rescue Practitioner – IAC

A Business Rescue Practitioner helps companies that are technically insolvent to return to solvency. They must liaise with creditors to negotiate settlements, negotiate pay packages with staff, determine what caused the company to enter into business rescue and manage the company during business rescue operations.

Admission requirements:

  • Academic: A qualification in Law, Accounting or a Business Management with a minimum NQF Level 7
  • RPL options available
  • Practical: An applicant should have at least five years’ practical experience as a practising accountant, commercial lawyer or a business manager
  • Exams: 3 hour written evaluation followed by a 2-hour oral evaluation
  • CPD: Must complete 20 hours a year in total, of which 12 hours must be verifiable/structured and 4 hours must be business rescue related
  • Saqa certificate
 

Institute of Internal Auditors South Africa (IIASA)

The Institute of Internal Auditors South Africa (IIASA) is part of an international network representing the interests of internal auditors globally. The institute aims to build the profession, its credibility and a thriving business environment in South Africa. As a recognised Professional Accounting Organisation, the Institute of Internal Auditors South Africa is certified by the South African Qualifications Authority.

Local membership numbers are not available, but globally the international Institute of Internal Auditors to which the IIASA is affiliated has more than 210,000 members. There are various membership options available. Membership options that don’t require adherence to ongoing CPD include the Associate Member, Student Member, Affiliate Member, Retired Member and Honorary Member Class.

The Fellow Member Class (FIASA) is conferred on applicants who have completed one of the IIA SA designations below and who actively maintain the CPD hours. Members in this class have full voting rights and may use the designatory letters FIIASA followed by their highest designation.

The Graduate Member Class (MIASA) is conferred on applicants with an academic qualification at NQF level 7 or above, be a practising internal auditor and have at least three years uninterrupted experience in internal auditing. Members in this class have full voting rights and may make use the designatory letters MIIASA. This membership does not require CPD and members can retain this membership even after a change in occupation.

Internal Audit Technician - IAT

 

Internal Audit Technician (IAT)

The Internal Audit Technician (IAT) is the first level designation that all internal auditors entering the profession require. Internal Audit Technicians usually work under supervision and assist in conducting and planning audits, among other tasks.

Admission requirements:

  • Academic: Must have successfully completed an academic qualification at NQF Level 7 or above.
  • Practical: A minimum of four years internal audit experience and must be a practicing Internal Auditor.
  • Exams: Must successfully complete the final competency assessment for the Internal Audit Technician qualification.
  • CPD: Practising Internal Audit Technicians must complete 30 CPD hours every year, while non-practicing Internal Audit Technicians must complete 15 CPD hours each year.
  • SAQA certificate

Professional Internal Auditor - PIA

 

Professional Internal Auditor (PIA)

The Professional Internal Auditor designation is a more senior and supervisory designation to the Internal Audit Technician. Those in this position usually provide a link between upper management and the junior staff that they oversee.

Admission requirements:

  • Academic: Must have n academic qualification at NQF level 7 or above and must hold the Internal Audit Technician (IAT) designation.
  • Practical: Must have a minimum of five years internal audit experience and must be a practising Internal Auditor.
  • Exams: Must successfully complete the final competency assessment for the General Internal Auditor qualification.
  • CPD: A practising Professional Internal Auditor must complete 40 CPD every year, while a non-practicing Professional Internal Auditor must complete 20 CPD hours every year.
  • SAQA certificate

Certified Internal Auditor - CIA

 

Certified Internal Auditor (CIA)

The Certified Internal Auditor designation is the only globally recognised internal audit certification, with more than 170,000 CIAs working in more than 170 countries around the world. Qualified CIAs are able to fill more senior managerial roles.

Admission requirements:

  • Academic: An NQF level 7 qualification
  • Practical: At least two years work experience in an auditing environment. Alternatively, only one of experience is needed with a Masters degree
  • Exams: The Certified Internal Auditor exam is a 3-part exam covering internal audit basics, practice and knowledge elements
  • CPD: Practising Certified Internal Auditors must complete 40 hours a year in total, while non-practicing Certified Internal Auditors must complete 20 CPD hours a year.
  • SAQA certificate
 

Chartered Governance Institute of Southern Africa (CGISA)

The Chartered Governance Institute of Southern Africa is the professional qualifying body for chartered secretaries and chartered governance professionals. It was previously known as Chartered Secretaries Southern Africa and its website still reflects that previous name as it can be found at chartsec.co.za. It is a member of the larger global Chartered Governance Institute, which, rather confusingly, sometimes refers to it as the Southern African Institute of Chartered Secretaries and Administrators.

The CGISA has three tiers to its membership, however they academic requirements are the same and they require different levels of experience to progress up the hierarchy. As such, although they all all have the same NQF level, they do have a clear hierarchy. Each membership designation is underpinned by an international qualification recognised in more than 80 countries. Unlike the other organisations listed above, CGISA does not focus on accounting or taxation. While it previously included components for tax practitioners and accounting officers, it no longer offers that training in house. The CGISA course (either as chartered secretary or chartered governance professional) consists of 17 subjects which must be completed within 6 years.

Graduate of the Chartered Governance Institute - GradCG

 

Graduate of the Chartered Governance Institute – (GradCG)

A Graduate of the Chartered Governance Institute will have completed the 17 subjects that underpin the theory of the qualification in Company Secretarial and Governance Practice.

Admission requirements:

  • Academic: Professional Qualification: Company Secretarial and Governance Practice (NQF level 7)
  • Practical: One year’s work experience.
  • Exams: CIS International Qualifying Board Examination
  • CPD: A minimum of 20 CPD hours which includes 7 hours of non-verifiable CPD should be done each year.
  • SAQA certificate

Associate of the Chartered Governance Institute - ACG

 

Associate of the Chartered Governance Institute – (ACG)

An Associate of the Chartered Governance Institute designation is conferred on graduate members who have acquired more practical work experience. Some job titles that they can hold include company secretary, legal counsel, chief financial officer, chief governance officer or chief risk officer, depending on the circumstances.

Admission requirements:

  • Academic: Professional Qualification: Company Secretarial and Governance Practice (NQF level 7)
  • Practical: Three year’s work experience
  • Exams: CIS International Qualifying Board Examination
  • CPD: A minimum of 20 CPD hours which includes 7 hours of non-verifiable CPD should be done each year.
  • SAQA certificate

Fellow of the Chartered Governance Institute - FCG

 

Fellow of the Chartered Governance Institute – (FCG)

The Fellow of the Chartered Governance Institute is the highest grade of membership at CGISA and is given to associates with extensive experience. Responsibilities can include accounting and financial management through research and business planning, economics, human resources and company secretaryship to general management. Fellows are able to work in both the private and public sector and can also be self-employed.

Admission requirements:

  • Academic: Professional Post-Graduate Qualification: Company Secretarial (NQF level 7)
  • Practical: Minimum of Five to eight years’ work experience of which at least three have been served in a senior position
  • Exams: CIS International Qualifying Board Examination.
  • CPD: A minimum of 20 CPD hours which includes 7 hours of non-verifiable CPD should be done each year.
  • SAQA certificate
 

International accounting organisations:

Although this article focuses on South Africa’s professional accounting associations, their designations and the South African accounting qualifications required for each, there are also some international accounting bodies that are well respected and recognised locally. These international associations do not operate in total isolation and there is a lot of cross pollination between them and our own local organisations. For example, SAICA and CIMA recently announced a revised agreement to allow for an easier and quicker route for either group’s members seeking dual-designation status.

 

Association of Chartered Certified Accountants (ACCA)

The Association of Chartered Certified Accountants is an international association with recognition and representation in South Africa. Although the group does not have a separate website or page dedicated to South Africa specifically, the Association of Chartered Certified Accountants – South Africa is recognised by SAQA as a professional body and has two professional designations. Globally, the ACCA has 220,000 members in 176 countries, along with about 500,000 student members.

Associate Chartered Certified Accountant - ACCA

Associate Chartered Certified Accountant – ACCA

An Associate Chartered Certified Accountant it is able to occupy broader business roles and has a broad understanding that cuts across different finance functions within the finance value chain. They have broad knowledge across the financial and management accounting disciplines, along with some specialised learning in audit, tax and law.

Admission requirements:

  • Academic: There are multiple entry points to start on the path to ACCA qualification, with foundational courses for school leavers through to bridging options for higher skilled candidates. Although the final international qualification does not have South African NQF rating, the qualification is considered to be the equivalent of a Masters.
  • Practical: Applicants must complete 36 months of supervised experience in a relevant accounting or finance role. They must also complete nine performance objectives.
  • Exams: Depending on the level of entry into the ACCA programme, the exams differ. Regardless of qualifications, however, all candidates must complete the ACCA Ethics and Professional
    Skills module. To qualify as an ACCA member you will need to complete a minimum of five out of 14 exams.
  • CPD: There are multiple options for maintaining your continued professional development with ACCA, however if doing so independently then a total of 40 CPD hours are required each year, of which 21 hours must be verifiable.
  • SAQA certificate

Fellow Chartered Certified Accountant - FCCA

Fellow Chartered Certified Accountant – FCCA

A Fellow Chartered Certified Accountant is the highest status awarded to ACCA members and is only done so after 5 years of continuous membership. Fellowship status represents a member’s extensive experience and long-term commitment to professionalism and ethics.

Admission requirements:

  • Academic: Applicants need to have completed their ACCA qualification (equivalent to a Masters).
  • Practical: In addition to the 3 year practical requirement to become and ACCA member, applicants for fellow status must have been a member in good standing for 5 uninterrupted years.
  • Exams: Applicants will already have to have successfully complete the ACCA exams to become an Associate Chartered Certified Accountant.
  • CPD: There are multiple options for maintaining your continued professional development with ACCA, however if doing so independently then a total of 40 CPD hours are required each year, of which 21 hours must be verifiable
  • SAQA certificate
 

Chartered Institute of Management Accountants (CIMA)

The Chartered Institute of Management Accountants (CIMA) is another global professional association representing accountants, with a focus on management. It doesn’t have a standalone South African group, but it does have South African offices located in Johannesburg and it is recognised by SAQA as a professional association with two recognised professional designations. CIMA lays claim to being “the largest and the oldest management accounting body in the world” and it had 115,000 members as of 2020. Both of those designations are underpinned by the South African Chartered Management Accountant qualification. This is the local version of the Global Chartered Management Accountant designation that CIMA launched in partnership with the American Institute of CPAs in 2012.

Associate Chartered Management Accountant

Associate Chartered Management Accountant

The Associate Chartered Management Accountant is CIMA’s entry level designation for chartered management accountants. This is a globally recognised designation and CIMA has many agreements with other global and national PAOs to allow for easier recognition and dual membership..

Admission requirements

  • Academic: Bachelor of Commerce Honours Degree in Management Accounting (NQF level 8).
  • Practical: Three years of accounting work experience.
  • Exams: Applicants must complete the CIMA exams and integrated assessments through the course of their learnership.
  • CPD: There is not a set CPD requirement, but each year certain members are randomly selected by the CIMA CPD team to conduct and prove CPD hours for that year.
  • Saqa certificate

Fellow Chartered Management Accountant

Fellow Chartered Management Accountant

Fellow Chartered Management Accountant status is given to Associate Chartered Management Accountants or Chartered Global Management Accountants who have also completed at least three years’ senior, strategic or technical leadership experience.

Admission requirements

  • Academic: Applicants need to have completed the CIMA exams.
  • Practical: At least three years of senior, strategic or technical leadership experience.
  • Exams: Applicants must already have completed the CIMA exams, but do not require additional exams to move from Associate to Fellow status.
  • CPD: There is not a set CPD requirement, but each year certain members are randomly selected by the CIMA CPD team to conduct and prove CPD hours for that year.
  • Saqa certificate
 

Study Accounting with UJ Online

If you are freshly out of school then UJ Online’s Bachelor of Commerce in Accounting will give you the opportunity to leapfrog many of the lower-level accounting designations, enter a work learnership programme with an accounting firm and join a PAO at a professional accountant level. The programme is split over four years and comprises modules that each run for a seven-week period.

Taking things further into postgraduate level, UJ Online offers a Master of Business Administration. Although it is not an accounting specific degree, it does include accounting as one of it’s core modules. As an NQF level 9 qualification, this MBA together with all of the necessary accounting and management experience could allow you to qualify for the Certified Financial Officer – CFO (SA) designation at SAIBA, which is the professional accounting designation with the highest NQF requirement in South Africa.

Studying online with UJ allows you to study from home and in your own time, allowing you to maintain your work and other commitments. Payments need only be done one module at a time, making your studies far easier to budget for than traditional contact courses that require upfront annual payments. You will also be able to start your studies at almost any time of the year, as the module cycles run every two months.

To learn more about UJ Online’s many programmes, please go to online.uj.ac.za/online-programmes/

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