PROFESSIONAL DEVELOPMENT OF SOUTH AFRICA'S ACCOUNTING PROFESSION. …
PROFESSIONAL DEVELOPMENT OF SOUTH AFRICA'S ACCOUNTING PROFESSION.
First professional local accounting body in SA
Institute of Accountants and Auditors in South African Republic.
Professionalisation of SA accounting:
large amounts of capital
British professional body established
Joined to form:
Transvaal branch of Society of Incorporated Accountants and Auditors.
Society of Incorporated Accountants and Auditors.
Local independent accounting bodies formed in:
Orange Free State
Independent Boer republics
Professional bodies remained until 1980
SA = Union
4 Provinces united
Professional features developing in South African accounting:
Joint Council of Chartered Accountants of South Africa name change -
National Council of Chartered Accountants
Transvaal and Natal societies
- Identical entry exams.
Chartered Accountants Designation (PVT
- 4 Povince Societies may use designation.
SA Accounting Societies General Examining Board
- uniform admission, exam and clerk conditions
New Public Accountant and Auditors Act
- Stringent registration regulations.
SA attempts to develop own accounting standards matching international practices.
Auditing Professions Act
Independent Regulatory Board of Auditors
- Responsible: Education; training; development; requirements of conduct; ethics etc. for auditors
Public Accounting and Auditors Board
- Control accountant training
Full control - qualifying exams and requirements for auditors and article clerks.
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.
Joint Council of Chartered Accountants of SA
- Represent societies with government negotiations.
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