Short Description of the Designation
A Technical Accountant (TA) also known as "bookkeepers" primarily renders a support function to Professional Accountants by writing up subsidiary books of prime entry. They are involved in the day-to-day practical bookkeeping function including the preparation of working paper files. A Technical Accountant is allowed to prepare financial statements for sole proprietors and partnerships.
Criteria for obtaining the Professional Designation
The following persons are eligible to apply for membership as a Technical Accountant.
Completed two years accounting training under the guidance of a registered accountant.
Accounting qualification SAQA rated NQF level 5 (pre 2009) and SAQA rated NQF level 6 (post 2009).
OR
A person who does not have a formal qualification, but has been working as a bookkeeper or accountant for a period of at least 5(five) years can be allowed to be admitted to Technical Accountant status.
(This is the IAC’s recognition for prior learning (RPL) process).
The application must be supported by an affidavit, stamped and signed by a Commissioner of Oaths, verifying the applicant's practical experience, as well as a comprehensive job description.
The applicant must be compliant with the Institute’s code of conduct
All practicing IAC members, who provide a service to the public, are compelled to have professional indemnity insurance
Academic Component
An Accounting qualification SAQA rated NQF level 5 (pre 2009) and SAQA rated NQF level 6 (post 2009)
Or
see RPL process.
Practical/Workplace Experience
Completed two years accounting training under the guidance of a registered accountant.
The application must be supported by an affidavit, stamped and signed by a Commissioner of Oaths, verifying the applicant's practical experience, as well as a comprehensive job description
Competency Assessment
The applicant for this designation must submit a comprehensive Curriculum Vitae (CV) that outlines the work experience that the applicant has. An affidavit signed under oath must accompany the CV. The competencies on the CV are assessed against the set criteria
CPD Requirement:
Must complete 20 CPD hours per annum (10 structured of which 2 must be Ethics + 10 unstructured) comprising of at least 5 categories, viz, Accounting (i.e. IFRS), Taxation, Company Law, Ethics and Auditing and any other area in which the applicant specialises in.