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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
PROFESSIONAL DESIGNATION: 
FMAT(SA) - Fellow Member Accounting Technicians (SA) 
DESIGNATION ID DESIGNATION TITLE
982  FMAT(SA) - Fellow Member Accounting Technicians (SA) 
PROFESSIONAL BODY DESIGNATION STATUS
SAICA - South African Institute of Chartered Accountants  Prof Desig Deregistered 
SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
SAQA 136/22  2018-09-12  2022-05-10 


DESCRIPTION:
A Diamond Member of the Association of Accounting Technicians, South Africa. The Finance and Accountancy field recognise (FMAAT(SA)) as a Senior Professional. A Diamond Member is a professional that must:
  • Report, record and analyse financial transactions.
  • Inform business performance by demonstrating how a company compares with its competitors.
  • Advice on profit or loss.
  • Understand where a business needs to adapt to changes in the economy.
  • Understand where the viable returns are on the organisation's financial investments.
  • Know which products and services will be the best fit for existing and future markets. 
    		•
    AWARDING CRITERIA
    For the Professional Designation to be awarded, professionals must comply with the following minimum requirements: 
    Underlying Registered Qualification or Part Qualification:
    For the Professional Designation to be awarded, professionals must comply with the minimum requirements set out below:
  • Have completed an Underlying Registered Qualification.
    Or
  • Part Qualification coupled with Senior Experiential Learning or Experience.

    Academic Component:
    Completion of AAT's NQF Level 5 Certificate: Accounting Qualification, or hold a qualification that has been recognised as a suitable alternative. 
    		•
    Experiential Learning or Experience
    Have completed at least five years Platinum membership with at least five years of senior work experience with the correct depth and breadth of exposure.

    Tax Practitioner:
    Against the designation, i.e. Diamond members (FMAT (SA)) in possession of a verified NQF Level 5 finance/tax-related qualification, who are in good standing can apply for Tax Practitioner recognition. A minimum of two years of tax-related work experience, clear police and tax clearance certificates and competence reflected in the tax skills check questionnaire are additional requirements to obtain recognition as a Tax Practitioner. 
    Competency Assessment
    Relevant work experience:
  • Ten years at which five are at a senior level plus five years uninterrupted membership on Platinum.
  • AAT Technician/AAT Diploma/Institute of Certified Bookkeepers (ICB) NQF Level 5/International Project Finance Association (IPFA) NQF Level 6.
  • South African Institute of Professional Accountants (SAIPA) NQF Level 7/CAT NQF Level 5/Chartered Institute of Management Accountants (CIMA) NQF Level 6. 
    		•
    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)
    Continuing Professional Development (CPD) is a mandatory requirement for all SAICA members. Members are required to undertake appropriate CPD to ensure that they remain competent for the work that they do, and to meet their career aspirations, whether their work is of an accounting/financial nature or not.

    Exemptions for mandatory CPD is for members who indicate that they are fully retired. They should not be returning to the workforce in any capacity at any stage in the future.

    Measuring of CPD is not measured in hours. Instead, measuring is by the outcomes and benefits that members derive from doing CPD. This approach changes the emphasis from focusing on the quantity of CPD that members do, towards focusing on the quality of the CPD that members do.

    Members are required to follow a CPD cycle to:
  • Assess their learning and development needs and goals.
  • Plan appropriate activities that will meet these needs and goals.
  • Action the plan, and afterwards.
  • Evaluate whether the activities undertaken meet the requirements fully, and whether any further or if any further learning is required.

    Members are required to maintain adequate records of the conclusions that they have reached whilst using the CPD cycle, and of subsequent learning that they do. The onus is on the member to demonstrate to SAICA's satisfaction that they complied with the CPD Policy.

    In addition to the requirements outlined above, Diamond members who are Tax Practitioners/Administrators, as registered with the South African Revenue Services (SARS) are also required to complete at least fifteen hours of tax specific CPD bi-annually and record these hours with SAICA. They must also make specific declarations with regards to fees charged for tax services and honesty and integrity in dealing with both SARS and their client. 
    		•
    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
    1981MAT(SA) - Member Accounting Technicians (SA)
    2982FMAT(SA) - Fellow Member Accounting Technicians (SA)


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