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Professional Development of Accounting in South Africa - Coggle Diagram
Professional Development of Accounting in South Africa
Mineral Revolution
Brought
Wealth
Demand for Accounting
Professional Bodies
1895: ZAR branch of British Body : Society of Incorporated Accountants & Auditors (SIAA) was established
1894: Institute of Accounting & Auditors in South African Republic was established in Transvaal (IAASA)
They combined to form the Transvaal Branch of the Society of Incorporated Accountants & Auditors
Independent Professional bodies
Orange Freestate
Independent Boer Republics
1907 :Orange Free State
Cape Colony
1908 :Cape Colony
Natal Colony
British Colonies
1909: Natal Colony
Transvaal
1904 :Transvaal local bodies
Professional Features introduced
1910: South Africa became a Union
ACTS and Establishments
1945: joint Council of Chartered Accountants of South Africa
1966:Joint Council's name was changed to the National Council of Chartered Accountants.
1951: Public Accountants and auditors Act , No 51 of 1951
1951: Public Accountants and Auditors Board (PAAB);
Protected public interest
Conditions for registration
New Public Accountants and Auditors Act, Act 80 of 1991
Auditing Profession Act, No 26 of 2005 (APA)
Independent Regulatory Board of Auditors (IRBA)
1980: SAICA was established
Joining four provinces under one state
Educational requirements
1919: Natal and Transvaal societies same exam
1921: The SouthAfrican Accounting Societies General Examining Board (GEB).
1927: Chartered Accountants' Designation (Private) Act of 1927 : CA designation
1970: Qualifying exams and registration.
First Joint body