South Africa
In South Africa, SAICA (South African Institute of Chartered Accountants) regulates the CA (SA) designation (Chartered Accountant (South Africa)).
To qualify as a CA (SA) one requires a specialised bachelor's degree in accounting, followed by a Certificate in the Theory of Accounting, or CTA; depending on the university, this is offered as a postgraduate honours degree, or as a postgraduate diploma. This formal education is followed by part one (QE) and part two (PPE) of the qualifying exams. A separate registration is needed for Chartered Accountants wishing to act as auditors in public practice, namely the RA (Registered Auditor). The RA designation is conferred by IRBA (Independent Regulatory Board For Auditors), (previously known as PAAB (Public Accountants and Auditors Board)) in terms of the Auditing Profession Act (AP Act).
Candidates must complete three years of practical experience, working for a registered training office - the Training In Public Practice (TIPP) programme. Articled clerks who switch employers during this period are required to extend their training by six months. The Training Outside Public Practice (TOPP) programme has a financial management focus; TOPP trainees can thus become chartered accountants with a more limited knowledge and experience of auditing than those who undergo the TIPP programme, but with a more extensive financial management and business experience than the TIPP learners.
Chartered Accountants who are not registered auditors may not act as or hold out to be auditors in public practice. However, the AP Act does not prohibit non-RAs from using the description 'internal auditor' or 'accountant' or from auditing a not-for-profit club, institution or association if he or she receives no fee for such audit.
In South Africa the companies act has changed with effect July 2010, to allow companies without a public interest to choose between an audit or a review. A review is not an attest function and will be performed by Accountants who are members of bodies, that are members of the International Federation of Accountants (IFAC). In South Africa these bodies are: CIMA, ACCA, SAICA, SAIPA .
Read more about this topic: Chartered Accountants, Countries
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