Organization:Institute of Accounting and Commerce
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| Abbreviation | IAC |
|---|---|
| Formation | 1927 |
| Legal status | Nonprofit organization |
| Headquarters | Cape Town, South Africa |
Region | South Africa |
President | Mr A.W Bezuidenhout |
Vice President | Mr S.T Cupido |
Chief Executive Officer | Mr E Nagia |
| Website | www |
Formerly called | 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
- ↑ "Professional Body registration". SAQA. http://pbdesig.saqa.org.za/viewProfessionalBody.php?id=835. Retrieved 2017-01-04.
- ↑ "RE: Institute of Accounting and Commerce". Progressive Business Forum. http://www.pbf.org.za/docs/businessupdate/2016/issue11/index.html#59/z. Retrieved 2017-01-04.
- ↑ "RE: The Professional: Institute of Accounting and Commerce". Institute of Accounting and Commerce. December 2016. http://www.iacsa.co.za/wp-content/uploads/2016/12/Professional-December-2016-v2.pdf. Retrieved 2017-01-04.
- ↑ "Accounting Officer controlling bodies". CIPC. http://www.cipc.co.za/index.php/manage-your-business/manage-your-close-corporation/compliance-obligations/appointment-accounting-officers/. Retrieved 2017-01-04.
- ↑ "Controlling Bodies for Tax Practitioners". South African Revenue Services. http://www.sars.gov.za/ClientSegments/Tax-Practitioners/Pages/Controlling-Bodies-for-Tax-Practitioners.aspx. Retrieved 2017-01-04.
- ↑ "Registered Controlling bodies of Business Rescue Practitioners". CIPC. http://www.cipc.co.za/files/7714/7703/4676/Notice_52_of_2016.pdf. Retrieved 2017-01-04.
- ↑ "Institutional Members of PAFA". Pan African Federation of Accountants. http://www.pafa.org.za/membership/. Retrieved 2017-01-04.
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