28 Aug
2013

Professional Accountants Play Essential Role in Small Business Sustainability


27 September 2013

Small and medium enterprises (SMEs) are the engine of most African economies, yet the majority do not survive to celebrate their fifth anniversary, according to the South African Institute of Professional Accountants (SAIPA).

Accounting services are the key to sustainability, says Navin Lalsab, Accreditation, Compliance and Development Executive of SAIPA. “Professional accountants have a vital role to play in advising and supporting SMEs, and in imparting the financial and accounting knowledge essential to business success. The ability for accountants to integrate academic skills from tertiary institutions with practical skills needed in the market is, therefore, crucial.

Almost 200 candidates passed the most recent SAIPA 4hr rigorous professional evaluation (PE) assessment, joining more than 400 who successfully completed the course in November 2012.

The successful candidates are of the highest calibre and will contribute greatly to the sustainability of the small businesses they serve through business advisory services, professional judgments, logical communication and the ability to apply learned knowledge in a dynamic business environment, says Lalsab.

Each candidate can now use the designation Professional Accountant (SA) and can register with the South African Revenue Service (SARS) as a tax practitioner as per Section 240A of the Tax Administration Act (2011).

The new registration requirements will ensure that, through alliance with the selected bodies, tax practitioners possess minimum educational qualifications and experience to provide adequate tax advice, and tax practitioners tax knowledge remains relevant and current.

According to Lalsab benefits of SAIPA membership include access to continuous professional development (CPD) programmes designed to keep skills current and relevant.

This is particularly important given the rate at which modern business and accounting regulations change, he says.

ISSUED ON BEHALF OF: South African Institute of Professional Accountants (SAIPA)

ISSUED BY: PR Republic

MEDIA CONTACT: Juanita Vorster, 079 523 8374, juanita@prrepublic.co.za

ABOUT SAIPA (South African Institute of Professional Accountants)

As South Africas leading Professional Accountant (SA) institute, SAIPA plays a very important role in ensuring that its members are able to optimise their accountancy practices or add value to their employers and, by so doing, manage the wealth of the country to the benefit of its citizens.

Membership of SAIPA:

provides accountancy professionals with local and international recognition,

ensures that they remain abreast of the latest local and international developments in the accountancy profession,

are able to regularly network with fellow accountancy professionals, and

includes ongoing training to facilitate the necessary knowledge, competencies and functional skills members require to effectively execute their responsibilities in a manner that complies with local and international regulatory frameworks and standards.

 

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