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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
PROFESSIONAL DESIGNATION: 
Chartered Business Accountant in Commerce (Chartered BAC) 
DESIGNATION ID DESIGNATION TITLE
521  Chartered Business Accountant in Commerce (Chartered BAC) 
PROFESSIONAL BODY DESIGNATION STATUS
CIBA - Chartered Institute for Business Accountants (Formerly SAIBA)  Reregistered 
SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
SAQA 08145/24  2025-03-20  2030-03-19 


DESCRIPTION:
The finance department has great importance in the success of any business, and it is the backbone of organization's process and operations. No business can run without finance and effective management of available finance is the key to success. The roles in the finance department can be split between operational, management and strategic levels. The Chartered BAC designation is the one designation for all operational finance roles and will allow you to progress towards the Chartered FM and Chartered CFO designations helping you move up the finance department hierarchy. 
AWARDING CRITERIA
For the Professional Designation to be awarded, professionals must comply with the following minimum requirements: 
Underlying Registered Qualification or Part Qualification:
Typical qualifications to obtain the designation Chartered Business Accountant, Chartered BAC designation includes approximately 2 years relevant experience in an accounting or finance related job. However Recognition of Prior Learning will also be applied.

Academic Component:
Qualifications must have been obtained from a University, University of Technology, or Private Higher Education Institution registered with the Council for Higher Education (CHE).
A typical underlying qualification for the Chartered Business Accountant designation is, in order of completion:
1. BCom General, National Diploma Commerce or a general degree from an accredited institute
of higher learning.
2. NQF6 or higher.
3. Qualification can be obtained in any field i.e. commerce or non-commerce.
4. We apply a Recognition of Prior Learning Policy as required by the NQF Act to those applicants that did not qualify with a BCom degree or only attained a part degree. We may require additional years of experience or other interventions such as further education programs to consider the application. 
Experiential Learning or Experience
  • BCom General (or similar) graduates: Operational level: 2 years relevant experience in the operational level of the finance department or as a trainee in practice.
  • National Diploma Commerce graduates: Operational level: 3 years relevant experience in the operational level of the finance department or as a trainee in practice.
  • Other non-commerce graduates: Operational level: 4 years relevant experience in the operational level of the finance department or as a trainee in practice.
  • Experience will be verified by way of a logbook completed by employer and correlation with credit bureaus. 
    		•
    Competency Assessment
    It is the applicant's responsibility to perform a self-assessment on whether the performance indicators have been met. The applicants should request a supervisor, or principle in the or another member of CIBA to provide an overall assessment whether the applicant is capable of achieving the stated performance indicators.

    CIBA may perform an independent verification of whatever form to determine whether the performance indicators have been met.

    This includes correspondence with supervisor, principles or the relevant CIBA member that cosigned the self-assessment and assessments of a workplace.

    Candidates may also be requested to submit a portfolio of evidence.

    A person may apply for the professional designation based on recognition of prior learning (RPL) if some of the formal qualification qualifications requirements are not met.

    Each case is dealt with on its own merits and must be accompanied with a portfolio of evidence supporting the RPL application.
  • Assessments are conducted in terms of a Competency Framework relevant to each designation.
  • Experience will be verified by way of a logbook completed by an employer and correlated with credit bureaus.
  • Self-assessment and declaration that the required competencies was achieved.
  • Annual completion of a course in ethics. 
    		•
    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)
    Persons that have been awarded the designation Chartered Business Accountant designation are required to engage in continuous professional development (CPD). This is how CIBA ensures our designations are highly regarded by employers and presents a competitive advantage to our members.

    Continuous quality confirmation is a hallmark of the designation, gives credibility and is valued by clients and employers.

    The CIBA CPD programme consists of:
  • Ethics: An annual CIBA course in ethics. This must be repeated annually.
  • Knowledge and skills: A Chartered Business Accountant needs to log 20 hours CPD per annum. CPD is a means to update knowledge required within a specific occupation.
  • International and local conferences: Chartered Financial Managers annually participate in local and international conferences, which may include the CFO World Congress. 
    		•
    Fees
    Ensure that the annual membership fee is paid. 


    PROFESSIONAL DESIGNATION PROGRESSION PATHWAY
    (The Designation being reported on here is shown in italics.)

    Sequence Designation ID Designation Title
    11323Chartered Bookkeeper
    21322Chartered Financial Administrator
    3521Chartered Business Accountant in Commerce (Chartered BAC)
    4520Chartered Business Accountant in Practice (Chartered BAP)
    5769Chartered Financial Manager (Chartered FM)
    6631Chartered Chief Financial Officer (Chartered CFO)


    PROFESSIONAL BODY WEB ADDRESS:
    For more information on this Professional Designation, please visit http://www.saiba.org.za