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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION THAT HAS PASSED THE END DATE:

Post-graduate Diploma: Professional Accountant in Practice

SAQA QUAL ID	QUALIFICATION TITLE
20391	Post-graduate Diploma: Professional Accountant in Practice
ORIGINATOR
South African Institute of Professional Accountants
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
FASSET - Financial and Accounting Services SETA			OQSF - Occupational Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
Postgraduate Diploma	Field 03 - Business, Commerce and Management Studies		Finance, Economics and Accounting
ABET BAND	MINIMUM CREDITS	PRE-2009 NQF LEVEL	NQF LEVEL	QUAL CLASS
Undefined	240	Level 7	NQF Level 08	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Passed the End Date - Status was "Reregistered"		SAQA 9999/99	2018-07-01	2023-06-30
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2026-06-30		2029-06-30

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.

This qualification does not replace any other qualification and is not replaced by any other qualification.

PURPOSE AND RATIONALE OF THE QUALIFICATION

Purpose:

Learners attaining this qualification will be in private practice. The learner will qualify as a professional accountant and accounting officer at NQF 7 and will gain membership of the South African Institute of Professional Accountants if they meet membership requirements.

Rationale:

The Institute has recognised the need for qualified accountants with a broad base of knowledge in the field of accountancy. Furthermore, once completed, learners will have the necessary financial skills to engage in self-employment of an entrepreneurial nature, thereby contributing to job creation and ultimately contributing to the reduction of unemployment in South Africa.

This Qualification will provide the country with well-qualified citizens whose competence will be internationally recognised and who will be able to perform a variety of occupations within the economically active sectors of South Africa.

Examples of positions, which successful learners may hold include:

Accountancy Practitioners.

Financial Accountants.

Management Accountants.

Taxation Consultants.

Internal/forensic auditors.

Financial Directors.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Learners will be required to be in possession of Further Education and Training Certificate at an NQF Level 4 and meet with University entrance requirements. In addition, the following requirements need to be met at NQF Level 4:

Basic accounting knowledge.

Computer literacy.

Mathematics.

Recognition of Prior Learning

The Qualification recognises prior learning of workplace based experience. Learners who gained the prior learning at an Approved Training Centre (ATC's) will be assessed by a Committee based on the motivation letters submitted by employers on the width and depth of the work experience gained. Assessors may be appointed to assess Learners who did not attain the prior experience at an ATC.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

The qualification is based on an accredited academic program(such as a B Com degree), with specified subject requirements, from an accredited tertiary institution as well as three years of supervised workplace based training at an Approved Training Centre(ATC).

EXIT LEVEL OUTCOMES

The qualifying learner:

1. Has acquired knowledge of, and demonstrates competence in all areas of Financial Accounting in accordance with International Accounting Standards as applicable to the engagement.
2. Demonstrates a thorough understanding of Internal and External Auditing processes as accordance with a recognised framework.
3. Has acquired knowledge of and demonstrates competence in all areas of taxation, including personal and business tax, in accordance with the relevant tax legislation and regulation.
4. Demonstrates a sound understanding of commercial law and an appreciation of the role of law within which an accountant operates.
5. Demonstrates knowledge of, and competence in all areas of Management Accounting.
6. Has acquired knowledge of, and demonstrates competence in all areas of Practice Management.

Critical Cross-Field Outcomes

Learners will be able to:

1. Collect, analyse and critically evaluate and solve problems in which responses to issues relating to more than one subject area.
2. Work effectively with others as a member of a team, group, organisation or community.
3. Organise and manage oneself and one's activities responsibly and effectively.
4. Communicate effectively using visual and written presentation media.
5. Use technology effectively in the performance of their daily task.
6. Utilise opportunities in the workplace in order to maximise experiences and learning opportunities available.
7. Transfer skills and continuous learning in a structure that is conducive to coaching and mentoring.

ASSOCIATED ASSESSMENT CRITERIA

1. In the field of Financial Accounting, the qualifying learner will be able to in accordance with International Accounting Standards or an appropriate framework:

Prepare basic accounting records including cashbook and bank reconciliations, petty cash, inventory and control accounts, journals, ledgers, trial balance, the writing up of the books and the maintenance of fixed asset registers. Accounting systems will be carried out using an appropriate computer system.

Prepare financial statements for a sole proprietor, partnership, company, CC, association and clubs, sectional titles, schools, trusts, estates and other entities. This may include the preparation of consolidation and interim reports.

Issue an appropriate report in terms of applicable legislation or relevant client engagement.

2. In the field of Auditing, the qualifying learner will be able to:

Plan and prepare for audits including the preparation of notes, procedures, system documents, authorities and letters.

Conduct tests of controls and verifications including vouching, systems, solvency and liquidity, compliance procedures, analytical reviews and control objective testing. The Learner must demonstrate the ability to conduct financial statement reviews and comply with statutory requirements as applicable to the engagement and relevant legislation.

Report on findings regarding system weaknesses. Provide a representation letter, a management letter and an audit report as authorised by legislation.

3. In the field of Taxation the qualifying learner will be able to:

Register for VAT, maintain VAT records, complete VAT returns, calculate penalties and interest, conduct VAT reconciliations, de-register from VAT and assist a client with a VAT audit from SARS.

Registration for paye/site, maintain records, complete paye/site returns, calculate penalties and interest, conduct paye/site reconciliations, de-register from paye/site and assist a client with a paye/site audit from SARS.

Identify differences in review of assessments and lodge objections and appeals.

Calculate taxable income, net remuneration, Secondary Tax on Companies, deferred tax, estate duty, donations tax and fringe benefits and other taxes as applicable.

Plan, conduct and report on efficient tax and estate planning, within the restraints of the relevant income tax legislation.

4. In the field of Commercial Law, the qualifying learner will be able to:

Conduct secretarial duties in establishing, maintaining and termination of Close Corporations and Companies.

Perform the duties of an accounting officer in terms of the CC act.

Identify and advise members of a CC on issues of personal liability in terms of relevant legislation.

Identify basic principles of commercial law as applicable to the various entities such as law of contacts, insurance, credit agreements, etc.

Advise entities on their reporting and compliance duties in terms of relevant legislation.

5. In the field of Management Accounting, the qualifying learner will be able to:

Produce sets of management reports including a balance sheet and an income statement and report on valuations, cash flow, ratio analysis and management of costs and overheads.

Develop a budget, forecast income and expenditure, conduct scenario planning and control a budget.

Advise on costs of capital, finance, product and inventory. This will include cost volume profit analysis and break even analysis.

6. In the field of Practice Management, the qualifying learner will be able to:

Manage an accounting practice through planning, implementing and contracting.

Manage their risk and liability in the practice by maintaining working papers in sufficient detail.

Integrated assessment

Integrated assessment is performed on a continuous basis, using various assessment tools such as:

Client files, the log book, case studies, projects, statements, reports and summaries.

Actual work products showing where the learner has met the outcomes.

Interpretation of information.

Handling of queries with clients, the receiver, the registrar, and other professional bodies.

Meeting the requirements of the constitution, code of conduct and by-laws of the Institute.

INTERNATIONAL COMPARABILITY

The Institute is a full member of the International Federation of Accountants (IFAC) as well as of the Eastern Central and Southern African Federation of Accountants.

The Institute has reciprocal agreements with Accounting Professional Bodies in Australia and Russia which lend international credibility to the qualification.

ARTICULATION OPTIONS

Articulation possibilities include the fact that learners who are studying towards a degree (BCom) and have completed registered outcomes in Financial Accounting 3, Taxation, Commercial law, Management Accounting and Auditing will be able to enter this qualification.

Learners who complete the qualification will be offered the opportunity to become Accounting Technicians of the Institute.

Learners who are successful in the professional assessment of the Institute will be able to become full members of the Institute which allows them to use the Institutes professional designation. All members of the Institute are required to participate in Continuing Professional Development, which is a requirement of all IFAC member bodies.

MODERATION OPTIONS

All Approved Training Centres (ATC's) are visited on a 3 year rotational basis for the purpose of conducting a monitoring visit. At this visit the quality of training as well as the portfolios of evidence of Learners is moderated.

Moderation may include both internal and external moderation of assessments at exit points of the qualification, unless ETQA policies specify otherwise.

CRITERIA FOR THE REGISTRATION OF ASSESSORS

All Assessors must meet the following requirements before they may be registered as assessors for this qualification:

Successfully completed a recognised Assessor Course.

Be registered as an assessor with the seta - FASSET.

Be registered with the Institute (or another approved professional body) as a member in good standing.

REREGISTRATION HISTORY

As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2006; 2009; 2012; 2015.

NOTES

As per the SAQA decision to re-register all provider-based qualifications on the National Qualifications Framework that meet the criteria for re-registration, this qualification has been re-registered from 1 July 2018. N/A

LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION:

NONE

PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION:

This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.

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