The accounting industry consists of a large number of general and specialised professional accountants, who choose to either pursue qualifications that enable them to work as all round account practitioners, or develop their skills and expertise within a specialised accounting niche. Many accountants begin their career with a general tertiary education such as a Bachelor of Accounting Science (BCompt) degree, before choosing specialised fields. Accounting can also be completed as a major subject for those studying a BCom general, or a BCom in finance, economics or even management.

Post-graduate qualifications vary depending on specific fields within accounting, with a wide range of qualifications for each area. Some of the qualifications for professional accountants within various areas of the industry include the following:

• Chartered Accountant – qualification: CA. These accountants deal with financial management and consultancy, and are governed by the South African Institute of Chartered Accountants.
• Associate General Accountant – qualification: AGA. Duties include general accounting, with the accounting body being the South African Institute of Chartered Accountants.
• Registered Auditor and Accountant – qualification: RAA. These professional accountants deal with all auditing duties, and are governed by the Independent Regulatory Board for Auditors.
• Chartered Management – qualification: CM. Duties include Accountant Management and Cost Accounting, and accountants are registered with the Chartered Institute of Management Accountants.
• Professional Accountant – qualification: Professional Accountant (SA). These accountants perform all services, with specialised sub-categories and are governed by the South African Institute of Professional Accountants.
• Registered Accounting Officer – qualification: IACAO. Duties are general accounting services, with the Institute of Administration and Commerce governing this area of accounting.
• Certified Junior/Senior Bookkeeper – qualification: CJBIcb/ CSBIcb. Duties include bookkeeping, payroll, SARS returns plus cost and management accounting functions (juniors do not perform income tax services) and bookkeepers are registered with the Institute of Certified Bookkeepers.
• Tax Practitioner – qualification: Registered Tax Practitioner. Core areas include tax planning, returns and advice, and professional accountants specialising in tax services are registered with the South African Revenue Services.

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The role of a professional accountant is a vital one, assisting clients with financial matters that are often highly confidential. Accountants perform a number of tasks within this role, including book keeping, VAT, PAYE, Provisional Tax, financial statements, business plans and many other services. While accounting skills and education are the foundation of any accounting professional, there are a number of additional characteristics that are required of a professional accountant.

These include the following traits:

•  Skills, knowledge and expertise

The most critical traits of any accounting professional is a solid education that provides a broad range of skills, knowledge and expertise within the various aspects of accounting services. Training ensures that accountants are fully versed across all accounting skills, so that they are able to perform tasks that are required of them. Without adequate education and training, accountants are not able to provide a high level of service excellence to clients, and also run the very serious risk of making mistakes or other lapses of judgment caused by a lack of understanding.

•  Commitment to strong values

A number of values need to be held by a professional accountant, including integrity, accountability, reliability, ethics, moral reasoning, honesty, trustworthiness and confidentiality. These values play an important role, and help to ensure that accountants follow a strong set of internal rules that govern the way that they do business on a daily basis.

•  Belongs to a recognised accountancy body

Accountants should also belong to a recognised accountancy body that ensures that they are subject to the disciplinary powers of that body. Some of the bodies within South Africa include Southern African Accounting Association, Independent Regulatory Board for Auditors, The Association of Chartered Certified Accountants; Chartered Institute of Management Accountants, Institute of Certified Bookkeepers, Chartered Secretaries of South Africa, The South African Institute of Professional Accountants, Institute of Commercial and Financial Accountants of SA and South African Institute of Tax Practitioners.

• Upholds professional standards

The accountant must also uphold professional standards and approaches within the disciplines of recording, analysing, measuring, reporting, forecasting and offering advice and support in financial, management and strategic decisions, thereby adding value for their clients and stakeholders. Professional conduct plays an essential part of the accountant’s role, and is closely linked to the commitment of values.

• Commitment to on-going professional development

The final important trait of an accounting professional is the commitment to consistent professional development. Whether this is continuing to broaden their skills, obtain further qualifications within the industry, or any other professional achievements, it is crucial that the professional accountant is committed to improving their skills on a continuous basis.

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