Technical Accountant (TA)
Short Description of the Designation
A Technical Accountant (TA) 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 twoyears accounting trainingunder the guidance of a registered accountant.
Accounting qualification SAQA rated NQF level 5 (pre 2009) and SAQA rated NQF level 6 (post 2009).
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
An Accounting qualification SAQA rated NQF level 5 (pre 2009) and SAQA rated NQF level 6 (post 2009)
see RPL process.
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
Applicants need to do an entrance assessment as stipulated by the Institute.
Must complete 20 CPD hours per annum (10 structured + 10 unstructured) comprising of at least 4 categories, viz, Accounting (i.e. IFRS), Taxation, Company Law, Auditing and any other area in which the applicant specialises in.