What is a Trainee Accountant
Many people don't know the terminology in the accounting field as it relates to the various stages a candidate goes through as they progress further into the field of accounting. In this article we explain the process from the start to the day the accountant qualifies.
Students deciding to pursue accounting initially start by choosing the related subjects at school which include accounting, business studies and mathematics. The grade 12 results in an NQF 4 level which with the required subjects becomes the university entry requirement.
Once the grade 12 with the required subjects is complete, then the student applies for an accounting related degree which takes a minimum of 3 years to complete and results in them obtaining an NQF 7 qualification.
Once the student has obtained their NQF 7 Degree/Diploma they are classified as an accountant.
The distinction then is made between an "Unqualified Accountant" versus "Qualified Accountant":
Unqualified Accountant - An accountant who has completed a degree in accounting but has not pursued articles or a professional designation with an accounting body.
Qualified Accountant - An accountant who has completed a degree in accounting and completed a traineeship with an Accounting Body (usually a 3 year traineeship). The accountant also completes a logbook of 145 competencies over this 3 year period over and above the additional tax and accounting work they perform to master their competency.
As you can see Qualified Accountants study for at least 6 years (degree plus articles) and this is a long grueling process with many extra hours.
Once an Accountant has completed their articles/traineeship then they are expected to write a 4hour Professional Evaluation Exam with SAIPA. If they pass this exam then they receive the Professional Accountant (SA) Designation and are classified as Qualified Accountants. The qualification of Professional Accountant (SA) results in an NQF 8 qualification which is registered with FASSET.
An NQF 8 Professional Accountant (SA) is on the same level as Honours NQF 8 which is a level below Masters NQF 9 and 2 levels below a doctorate NQF 10.
Those candidates wishing to pursue Masters and then Doctorate can do so after receiving their designation with SAIPA.
If you are a client requesting Accounting and Tax services
If you are a tax and accounting client then remember all Qualified Accountants were once Trainees, therefore if you deal with a trainee accountant be kind as they too are going through the same process everyone else has. If you ever feel frustrated with a trainee accountant, then resolve it with their Manager, who will help them along with the correct feedback. Your contribution in services as a client is invaluable for the growth and development of new accounting professionals.
Appreciate your Accountant
Accountants work much harder than the pay they receive, and are so often undervalued. Show them your appreciation as they are the stewards of the economy, which impacts everyone's lives.
Frequently Asked Questions
What is a SAIPA Trainee Accountant
This Accountant completed their degree in accounting and signed up for a 3 year SAIPA Traineeship with South African Institute of Professional Accountants. The three years consists of completing their articles and logbook. Articles is like an 8-5 job, just under the supervision and guidance of a Qualified Accountant. The trainee accountant prepares financial records based in the day to day financial data they process to prepare financial information. They present information to senior staff for review and once signed off this is then communicated to a client.
Should I be concerned if a SAIPA Trainee Accountant is working on my Tax and Accounting
The answer is NO. You don't need to be concerned as the SAIPA Trainee Accountant is working directly under Fully Qualified SAIPA Accountants who hold the Professional Accountant (SA) Designation. The work must always be reviewed by the Qualified Accountant who then gives the junior review notes which they then correct and only once the Qualified Accountant has signed off, only then is the work released to a client.
What do I need to register as a SAIPA Trainee Accountant
You need a completed NQF 7 Degree / Diploma with the required subjects see SAIPA's website for a Trainee Overview.
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