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Professionalisation of Accounting in South Africa - Coggle Diagram
Professionalisation of Accounting in South Africa
Elements of professionalisation
Body of Specialised Knowledge
Mining brought a need for specialist business skills
Accounting is a body of specialised knowledge globally
Formal Education Process
Required to progress to exams
Education requirements defined by provincial boards, then SAAICA
Standards Governing Admission
1919: Natal and transvaal introduce exams
1921: First national exam (GEB)
1951: Public accountants and auditors act: registration mandatory
1980: SAICA
A code of ethics
SAICA code of conduct
International code of ethics (Auditing accounting)
Recognised status indicated by liecence or specialised designation
CA designation in 1927
Specialist bodies, first at provincial level, then national
Public interest in work practitioners perform
Seen as in the public interest
Government passed public accountants and auditors act in 1951
See SAICA code of professional conduct
Recognition of social obligation
SAICA code of professional conduct
public interest responsibility defined
Current status of professionalisation
Profession body SAICA
SAICA code of conduct in place
CA designation, education requirements and admission exams
Historical Development
Originally colonised by British, formed a Union in 1910
Rise of mining coincided with need for accounting services