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Professional Development of Accounting in South Africa - Coggle Diagram
Professional Development of Accounting in South Africa
Accountability and national interest
Joint Council
protect Designation Act of 1927
Organizations struggle to solve own issues
State intervention
Treasury Bill: control and registration of accountants and auditors in South Africa
protection of public interest
Organizations excluded from CA recognition
Societies of Designation Act of 1927 behaving like gatekeepers of profession
ACCA - request of registration of bodies instead of individuals
Select Committee
concern for CA foreigner designation to South Africa by those who passed British examinations
Professional closure strategy
national inclusion of public accountants
preservation of CA(SA)
Regulation, professional closure and autonomy
Regulation
control by corporations
"scarce resource" allocation
central economic role
Self-regulation
Treasury involvement
State regulation
Regulation of profession
Regulation by professionals
Regulation by state
Social closure
process of subordination
monopolizing opportunities for professional group
registration and licensing
Royal Charter
Registration
Incorporation
Professional initiatives: self-regulation
Accountants organizing themselves
1894 IAASAR formed
protect accountancy integrity
closure strategies
Union of South Africa 1910
Transvaal organization
Cape Colony organization
Orange River Colony organization
Natal Colony organization
First World War disrupted formalization of Accountancy in ZAR
reciprocity agreement
Chartered Accountants' Designation Act of 1927
Contention: chartered societies vs state
registration of accountants
The 1951 Act
Public Accountants' and Auditors' Act, No. 51 of 1951
Regulatory capacity to non-accountants
ending exclusive control of chartered societies
adopted requirements developed by chartered societies
included representation of chartered societies
Professional inclusivity
Registration of accountants and auditors
Investigation by Advisory Committee
Central register to Minister of Finance
Enacting membership of societies
PAA Act
Auditor responsibility in business conduct
reporting of material irregularity
Qualified Audit Certificate insufficient
Act of consensus