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PROFESSIONAL DEVELOPMENT OF SOUTH AFRICA'S ACCOUNTING PROFESSION. …
PROFESSIONAL DEVELOPMENT OF SOUTH AFRICA'S ACCOUNTING PROFESSION.
First professional local accounting body in SA
1894
Institute of Accountants and Auditors in South African Republic.
Professionalisation of SA accounting:
Driven by
Mineral Revolution
Injection of
large amounts of capital
and industry
Increased
demand
for accountants
British professional body established
1895
Joined to form:
Transvaal branch of Society of Incorporated Accountants and Auditors.
Society of Incorporated Accountants and Auditors.
Local independent accounting bodies formed in:
1907
Orange Free State
Independent Boer republics
1910
Professional bodies remained until 1980
SAICA
SA = Union
4 Provinces united
1908
Cape Colony
British colonies
1909
Natal Colony
1904
Transvaal Republic
Professional features developing in South African accounting:
1966
Joint Council of Chartered Accountants of South Africa name change -
National Council of Chartered Accountants
1919
Transvaal and Natal societies
- Identical entry exams.
1927
Chartered Accountants Designation (PVT
)
Act
- 4 Povince Societies may use designation.
1921
SA Accounting Societies General Examining Board
- uniform admission, exam and clerk conditions
1991
New Public Accountant and Auditors Act
- Stringent registration regulations.
1970
SA attempts to develop own accounting standards matching international practices.
2005
Auditing Professions Act
Independent Regulatory Board of Auditors
- Responsible: Education; training; development; requirements of conduct; ethics etc. for auditors
1962
Public Accounting and Auditors Board
- Control accountant training
1970
Full control - qualifying exams and requirements for auditors and article clerks.
1951
Public Accountants and Auditors Act (No 51)
- Public practicing accountants and auditors must be registered.
Public Accountants and Auditor Board
- Protects public interests (independent); Enforced registration-, exam- and clerkship conditions
1990 and early 2000
Acceptance of international accounting standards
South Africa operates independent from state but cooperates to ensure continuous professionalization.
1945
Joint Council of Chartered Accountants of SA
- Represent societies with government negotiations.
Images obtained: www.topaccountingdegrees.com
www.en.wikipedia.org
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