Institute of Accounting and Commerce

Institute of Accounting and Commerce
Abbreviation IAC
Motto your future secured
Formation 1927
Legal status Nonprofit organization
Objective To be a dynamic world class professional accounting and tax Institute.
Headquarters Cape Town,  South Africa
Region served South Africa
President Mr A.W Bezuidenhout
Vice President Mr S.T Cupido
Chief Executive Officer Mr E Nagia
Website www.iacsa.co.za
Former name The Institute of Administration and Commerce

The Institute of Accounting and Commerce (IAC) is a Recognised Controlling Body for Accounting Professionals, Tax and Business Rescue Practitioners based in South Africa and is a registered professional body under the National Qualifications Framework Act, 2008.[1] The Institute regularly publishes articles in various publications [2] and distributes a journal to members [3]

History

The Institute of Accounting and Commerce (IAC) was established in 1927 as a provider of distance learning education and a professional management institute. In 2009 the Institute changed to become a professional accounting membership body only and is registered in South Africa as a non-profit company (NPC) (Reg. No. 1981/011981/08).

In terms of section 60 of the close corporations act 69 of 1984, the IAC registers Accounting Officers [4] , and since 2013 is also a Recognised Controlling Body with the South African Revenue Service (SARS) for Tax Practitioners (in terms of section 240 of the tax administration act 28 of 2011).[5] On 21 October 2016 the IAC became a Registered Controlling Body for Business Rescue Practitioners (in terms of Section 138 of the Companies Act 71 of 2008).[6]

Associated organizations

The IAC is a member of the Pan African Federation of Accountants (PAFA)[7]

References

  1. "Professional Body registration". SAQA. Retrieved 2017-01-04.
  2. "RE: Institute of Accounting and Commerce". Progressive Business Forum. Retrieved 2017-01-04.
  3. "RE: The Professional: Institute of Accounting and Commerce" (PDF). Institute of Accounting and Commerce. December 2016. Retrieved 2017-01-04.
  4. "Accounting Officer controlling bodies". CIPC. Retrieved 2017-01-04.
  5. "Controlling Bodies for Tax Practitioners". South African Revenue Services. Retrieved 2017-01-04.
  6. "Registered Controlling bodies of Business Rescue Practitioners" (PDF). CIPC. Retrieved 2017-01-04.
  7. "Institutional Members of PAFA". Pan African Federation of Accountants. Retrieved 2017-01-04.
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