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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
PROFESSIONAL DESIGNATION: 
ACCA - Associate Chartered Certified Accountant 
DESIGNATION ID DESIGNATION TITLE
543  ACCA - Associate Chartered Certified Accountant 
PROFESSIONAL BODY DESIGNATION STATUS
ACCA - Association of Chartered Certified Accountants South Africa  Reregistered 
SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
SAQA 03146/24  2018-12-07  2025-03-31 


DESCRIPTION:
ACCA members in business are skilled to work across different sectors and the ACCA Qualification has been uniquely designed to develop the full range of competencies finance professionals need in the corporate sector today.

In today's finance function, ensuring a balance of skills across the entire finance value chain is essential. Broad-based professional finance qualifications such as the ACCA Qualification, which provide an entire understanding across financial and management accounting disciplines, as well as more specialised learning in audit, tax and law, provide a vital grounding in developing the skills that businesses need.

ACCA members can occupy broader business roles and have the depth and breadth of knowledge which cuts across different finance functions within the finance value chain.

By virtue of the recognition that ACCA has as a professional body, members in practice can provide the following range of services:
  • Register with SARS as tax practitioners and provide tax services to individuals and companies.
  • Perform independent reviews for non-owner managed companies with a public interest score between 0 and 99.
  • Prepare financial statements for all types of companies as an "independent accounting professional.
  • Prepare financial statements for close corporations and report on compliance in terms of section 62 of the Close Corporations Act.
  • Prepare financial estimates, financial statements and reports for a body corporate with less than 10 units.
  • Assist trustees to comply with provisions in the trust deed, common law and legislative requirements which usually include keeping a record of accounts, producing financial statements and reporting thereon.
  • Prepare reports on the financial statements for public schools where an audit is not practical.
  • Prepare a solvency certificate and RV9 form on behalf of insurance intermediaries to be submitted to the Intermediaries Guarantee Facility Limited.
  • Report on whether a NPO has complied with the provisions of the Non Profit Organisations Act.

    ACCA monitors and regulates its members in practice through the Practising Certificate. All members in practice who conduct "public practice work" are required to hold a valid ACCA Practising Certificate. 
    		•
    AWARDING CRITERIA
    For the Professional Designation to be awarded, professionals must comply with the following minimum requirements: 
    Underlying Registered Qualification or Part Qualification:
    Examinations are one of the three main components of the ACCA qualification. The other two components are ethics and experience. Examinations test candidates' knowledge and skills from a wide range of ten competency areas, appropriate for the Complete Finance Professional.

    To qualify as an ACCA member you will need to complete a minimum of five out of 14 exams (nine are eligible for exemption).

    The ACCA exams are divided into two levels; Fundamentals and Professional.

    The Fundamentals level is divided into two modules Knowledge and Skills.

    The Knowledge module introduces you to the main areas of financial and management accounting. There are six subjects in the Skills module which cover the main technical areas that accountants are expected to know.

    Fundamentals (9 papers in total):
    Knowledge:
  • F1: Accountant in Business.
  • F2: Management Accounting.
  • F3: Financial Accounting.

    Skills:
  • F4: Corporate and Business Law.
  • F5: Performance Management.
  • F6: Taxation.
  • F7: Financial Reporting.
  • F8: Audit and Assurance.
  • F9: Financial Management.

    The Professional level is divided into two modules; Essentials and Options. Both of the modules at Professional level have been set at the same ability level as a Masters Degree.

    This level builds on the technical knowledge you will already have from the fundamental level. It will also explore more advanced professional skills, techniques and values. These are required at a senior level by accountants working in an advisory or consultancy role.

    All students have to pass the three papers in the Essentials module. The Options module contains four papers, but you only need to complete two.

    Professional (5 papers in total):
    Essentials:
  • P1: Governance, Risk and Ethics.
  • P2: Corporate Reporting.
  • P3: Business Analysis.

    Options (2 papers to be completed):
  • P4: Advanced Financial Management.
  • P5: Advanced Performance Management.
  • P6: Advanced Taxation.
  • P7: Advanced Audit and Assurance.

    Professional Ethics Module:
    Professional ethics is at the heart of the ACCA Qualification. The Professional Ethics module underpins both the theoretical studies and practical experience. The aim of the module is to introduce the learner to a range of ethical ideas.

    You get access to the module when you become eligible to take Paper P1, Governance, Risk and Ethics. You must finish it before you can become a member. 
    		•
    Experiential Learning or Experience
    A key part of the ACCA Qualification is getting relevant practical experience in the workplace. Our exams will give you the theory behind your knowledge of accountancy, but you also need to have the practical experience to support it.

    This experience, alongside your exams and ethical awareness, will mean you are fully prepared for a challenging career as a professional accountant. The ACCA Qualification closely links practical experience to your studies. This means you can apply the knowledge you gain from the exams to your workplace.

    In order to qualify as an ACCA member you need to do three years' relevant work experience and achieve 13 of the performance objectives listed below. You will need to do all nine listed as 'Essentials' and four of those listed as 'Options'.

    Performance objectives are part of the requirements you must meet for your practical experience. They set out a clear guide for the activities you should do and what you should achieve in the workplace. They outline the standards and expected result of your work. They also show the attitudes you are expected to have as a trainee accountant.

    Essentials (all 9 to be done):
    Professionalism, ethics and governance:
  • Demonstrate the application of professional ethics, values and judgement.
  • Contribute to the effective governance of an organisation.
  • Raise awareness of non-financial risk.

    Personal effectiveness:
  • Manage self.
  • Communicate effectively.
  • Use information and communications technology.

    Business management:
  • Manage ongoing activities in your area of responsibility.
  • Improve departmental performance.
  • Manage an assignment.

    Options (4 to be done):
    Financial accounting and reporting:
  • Prepare financial statements for external purposes.
  • Interpret financial transactions and financial statements.

    Performance measurement and management accounting:
  • Prepare financial information for management.
  • Contribute to budget planning and production.
  • Monitor and control budgets.

    Finance and financial management:
  • Evaluate potential business/investment opportunities and the required finance options.
  • Manage cash using active cash management and treasury systems.

    Audit and assurance:
  • Prepare for and collect evidence for audit.
  • Evaluate and report on audit.

    Taxation:
  • Evaluate and compute taxes payable.
  • Assist with tax planning. 
    		•
    Competency Assessment
    Refer to Academic Component. 
    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)
    ACCA has a leading-edge continuing professional development (CPD) programme. All members are required to undertake relevant CPD to ensure that they maintain and develop the knowledge and skills needed to succeed in today's dynamic and demanding business environment.

    All ACCA members who are active in the workplace are required to complete CPD on an annual basis.

    ACCA's CPD requirement recognises that members need practical yet flexible options for achieving CPD. We offer four different CPD routes:
  • Unit route.
  • Unit route - part time or semi-retired.
  • ACCA Approved Employer route.
  • IFAC body route.

    Members are required to complete a CPD declaration each year by 1 January.

    Members are required to keep CPD evidence for three years in case they are selected for a review. If selected for a review, members will need to be able to demonstrate the relevance of their chosen CPD activities, by telling ACCA why they selected that particular activity, what they learned from it, and how they have applied or will apply that learning.

    Unit route:
    The unit route is for members who plan and organise their own CPD. If you follow the unit route, you are required to complete 40 relevant units of CPD each year, where one unit equals one hour of development. 21 units must be verifiable; the other 19 can be non-verifiable. It is extremely important to focus on relevance to your role and your career ambitions.

    Unit route - part time or semi-retired:
    If you are employed for 770 hours or less over the course of a CPD year, then you may be eligible to follow this route. If this route applies to a member, then they may complete 19 units of non-verifiable CPD and set their own level of verifiable CPD.

    ACCA Approved Employer route:
    ACCA recognises that many employers provide excellent learning and development programmes for their employees.

    If you work for an organisation which is an ACCA Approved Employer - professional development, you may achieve your CPD by participating in your organisation's employee development programme and you are not required to complete any additional CPD. You must however, complete an annual CPD declaration to ACCA stating that you have followed this route.

    IFAC body route:
    If you are also a member of another professional accountancy body then ACCA's CPD programme is sufficiently flexible to allow you to choose to follow your other body's CPD programme instead of ACCA's CPD programme, as long as:
  • You are a full member of that professional accountancy body.
  • Your other member body is a member of IFAC.
  • Your other member body's CPD policy is compliant with IFAC's International Educational Standard (IES 7).

    If you can answer 'yes' to these three statements, you are eligible to follow the IFAC body route, and, if doing so, can indicate this when making your annual CPD declaration to ACCA. 
    		•
    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
    1543ACCA - Associate Chartered Certified Accountant
    2542FCCA - Fellow Chartered Certified Accountant


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