HIERARCHY OF MEMBERSHIP GRADES

1. ASSOCIATE (AIAC): 0 to 6 years experience required. This category is also appropriate for recently qualified diplomates who have been fulltime students, as well as university and technikon graduates without working experience.

2. FULL (MIAC): at least 6 years relevant work experience, of which at least one must have been in a middle management position.

3. FELLOW (FIAC): must have been an IAC member for at least five years, and must have held a senior management position for at least five years.

4. ACCOUNTING OFFICERS: completed degree or diploma with mandatory subjects Financial Accounting 3, Income Tax (Taxation), Auditing 1 or Internal Auditing 1 & 2 and Company Law (Corporate Law), plus affidavit verifying applicant’s practical accounting experience, 3 years supervised training (articleship) or 6 years practical accounting experience at a supervisory or management level. The affidavit must also comprise of a comprehensive job description and has to be stamped and signed by a Commissioner of Oaths.

5. Accounting Technician:  completed a two year learnership registered with the Institute,ICB and FASSET and has successfully completed 10 of the 14 IAC accredited subjects or the equivalent.