BL Premium reports that the SA Institute of Chartered Accountants (Saica), the oversight body for the local accounting profession, has signed an agreement with its global counterpart, the Chartered Institute of Management Accountants (CIMA), that will make it easier for their members to achieve the professional designations of the respective organisations.

After five years of talks, the two bodies have agreed to make dual designation status more achievable. This will make it easier for local accountants to use both the coveted chartered accountant – CA (SA) – and Chartered Global Management Accountant (CGMA) designations. The new agreement also allows for holders of one designation to accelerate their membership of the other organisation through revised qualification paths. The two bodies have also agreed to a transitional arrangement. The CA (SA) designation has traditionally been seen as the gold standard by the local accounting industry and is virtually a prerequisite to becoming a CEO, with a significant proportion of the country’s corporate leaders sporting it. However, the qualification has come under scrutiny in recent years after a raft of accounting scandals ranging from Steinhoff to Tongaat Hulett has cast aspersions on the ethics of the industry.

• Read the full original of the report in the above regard by Garth Theunissen at BusinessLive (subscriber access only)

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