| DESCRIPTION: |
| N/A |
| AWARDING CRITERIA |
| For the Professional Designation to be awarded, professionals must comply with the following minimum requirements: |
| Underlying Registered Qualification or Part Qualification: |
| Bachelor Degree in Accounting at NQF Level 7. The qualification must contain the following core subject:
Financial Accounting 3. |
| Experiential Learning or Experience |
The applicant needs to have a minimum of 3 years practical Accounting experience under the guidance of a registered Accountant. The training must include the writing up of books of prime entry as well as the preparation of financial statements complying with IFRS or IFRS for SME's.
The application must be supported by an affidavit, stamped and signed by a Commissioner of Oaths, verifying the applicant's practical experience, as well as a comprehensive job description. |
| Competency Assessment |
| Once the academic and practical component has been met, an applicant would need to undergo a 3 hour written evaluation followed by a 2 hour oral evaluation, conducted by a registered IAC assessor, covering the following:
Accounting.
Auditing.
Company Law.
Taxation.
Practice Management. |
| Designation RPL Statement |
| This Designation may be awarded through Recognition of Prior Learning. |
| RETAINING CRITERIA |
| In order to ensure the currency of professional knowledge and to retain the Professional Designation, the professional must comply with the following minimum requirements: |
| Code of Conduct |
| Members must adhere to the Professional Body Codes of Conduct and Ethics. |
| Continuing Professional Development (CPD) |
| Complete 40 CPD hours per annum (20 structured + 20 unstructured) comprising of at least 4 categories, viz, Accounting (i.e. IFRS), Taxation, Company Law, Auditing & Review Engagements, and any other area in which the applicant specialises in. |
| Fees |
| Ensure that the annual membership fee is paid. |
