What NQF level is SAIPA?

Professional Accountant (SA)

SAIPA has two Learnerships that culminate in qualifications that are registered on the National Qualifications Framework (NQF) at Level 8. The NQF is maintained by the South African Qualifications Authority (SAQA).

Holders of the SAIPA Professional Accountant (SA) qualification are empowered to perform numerous functions and issue reports in terms of the following pieces of legislation:

  • Companies Act
  • Close Corporations Act
  • Micro Lending Industry Regulations
  • Sectional Titles Act
  • Non-profit Organisations Act
  • Income Tax Act
  • Schools Act and various other acts

Unlike the traditional understanding of what an accountant does, which puts emphasis on the preparation of financial statements, a Professional Accountant (SA) is a business consultant/advisor that actively participates in the decision-making processes of a business, and can perform a broad range of functions as follows:

Creator of value

  • Business advisor
  • Organisational manager
  • Business analyst
  • Business consultant
  • Business researcher

Enabler of value

  • Operations manager
  • Management accountant
  • Business manager
  • Financial controller
  • Financial analysts
  • Financial performance manager

Preserver of value

  • Financial accountant
  • Risk manager
  • Business risk consultant
  • Business rescue practitioner
  • Internal audit officer
  • Internal control manager

Reporter of value

  • Financial accountant
  • Accountant
  • Financial manager
  • Management accountant
  • Chief financial officer
  • Business/financial reporter

A Professional Accountant (SA) can offer the following services:

  • Prepare financial reports in terms of required standards.
  • Interpret financial reports and suggest solutions to problems.
  • Assist with strategy planning and execution.
  • Assist in the formulation of business plans and financial forecasts.
  • Help control costs through cost accounting.
  • Assist in identifying and managing risks.
  • Advise on suitable business structures.
  • Perform business or business unit valuations.
  • Advise on relevant regulations – Human Resource, safety and environmental.
  • Provide strategic Human Resource advice.
  • Advise family businesses on financial and succession planning.
  • Provide taxation services.
  • Perform Independent Reviews.
  • Performing BEE for EME: Mentoring and Coaching of Entrepreneurs.
  • Other Agreed upon Engagements in business and financial services.

The Professional Accountant (SA) designation is underpinned by a NQF Level 8 qualification.

It is important to note that a career in professional accounting may require additional practical experience in the various fields of specialisation.

In addition, a member in good standing who holds the Professional Accountant (SA) designation, may make application to qualify for the Professional Tax Practitioner (SA) designation without writing the examination.

How do I qualify to be a Professional Accountant (SA)?

In order to qualify to become a Professional Accountant (SA), you will need to comply with the following academic, practical and Professional Evaluation (PE) requirements of SAIPA:

Academic requirements

Successfully completed a Bachelor of Commerce degree, or equivalent, with the following required core subjects from a SAIPA-accredited tertiary institution:

  • Financial Accounting 3
  • Taxation 1
  • Auditing 1 / Internal Auditing 2 / Internal Control and Code of Ethics
  • Corporate Law 1 / Commercial Law 2
  • Management Accounting

Practical requirements

  • Three year learnership at a SAIPA Accredited Training Centre (ATC) ; or
  • six years of verifiable experience; or
  • a completed training programme from another accredited professional accounting body

Professional Evaluation (PE) exam:

The SAIPA Professional Evaluation is a four-hour written examination to determine your ability to integrate your academic knowledge with your practical experience gained in the workplace. The exam can be taken twice a year, in various venues around South Africa, in either May or November, and is part of the admission process for membership to SAIPA

What requirements must be met?

The candidate must have completed his/her IPD which is outlined in IES 1 – 5; i.e. have the completed their academic qualification which incorporates the minimum prescribed “subjects” at the desired level (usually a Bachelor’s qualification) as well as the practical and workplace experience where the practical skills and competencies were developed.

What is important is the pervasive of “soft skills” as this is integrated into the competencies required to be a Professional Accountant (SA). Skills such as reading, communications, critical thinking, analytical skills, problem solving and report writing are critical components of the competencies which will be evaluated during the Professional Evaluation exam.

Register for SAIPA PE Exam

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Student Loans in South Africa: How to Apply and What to Expect

For many young South Africans, accessing higher education is a dream that often comes with a financial challenge. Fortunately, several student loan optionsstrong> are available in South Africa to help fund university, college, or TVET studies. Whether you’re looking for a government loan like NSFAS or a private student loan from a bank, understanding the process is essential for success.

What Are Student Loans?

Student loans are a form of financial aid provided to eligible students to help cover tuition fees, books, accommodation, and other study-related expenses. In South Africa, these loans can come from government institutions like NSFAS or private banks such as Nedbank, Standard Bank, FNB, and Absa. Most loans offer repayment flexibility and low-interest options until you graduate.

Types of Student Loans in South Africa

  • NSFAS (National Student Financial Aid Scheme): A government-funded loan/grant program for students from low-income households. Covers tuition, housing, transport, and meals.
  • Bank Student Loans: Offered by most major banks. These are credit-based and require a guardian or parent as a co-signer.
  • Private Loan Providers: Companies like Fundi offer educational loans covering various costs such as school fees, gadgets, and textbooks.

Requirements to Qualify for a Student Loan

Each provider has its own criteria, but most South African student loans require the following:

  • Proof of South African citizenship or permanent residency
  • Proof of registration or acceptance at a recognised tertiary institution
  • Parent or guardian with a stable income to co-sign (for private loans)
  • Completed application form with supporting documents (ID, proof of income, academic records)

How to Apply for a Student Loan

To apply for a student loan in South Africa, follow these steps:

  1. Identify your loan provider: Choose between NSFAS, a bank, or a private lender.
  2. Gather necessary documents: ID copies, academic transcripts, acceptance letters, and income statements.
  3. Complete the application form online or at a branch.
  4. Await approval: Some banks offer instant decisions, while NSFAS can take a few weeks.
  5. Receive disbursement: Funds are typically paid directly to the institution or your account, depending on the lender.

Loan Amounts and Repayment

The loan amount you can receive depends on your chosen lender and financial need:

  • NSFAS: Covers full tuition, residence, books, and a personal allowance. The loan becomes a bursary if you pass all your courses.
  • Banks: Can provide up to R120,000 or more annually, depending on tuition costs and credit history.

Repayment usually starts after graduation or once you start earning an income. Bank loans may require interest-only payments during your studies. NSFAS repayment only begins when you earn above a specific income threshold.

FAQs on Student Loans in South Africa

1. Can I apply for a student loan without a parent or guardian?

For government loans like NSFAS, yes. But most banks require a financially responsible co-signer, especially for students without an income.

2. Is NSFAS a loan or a bursary?

NSFAS starts as a loan, but it converts to a bursary if you meet academic performance requirements. This means you may not have to pay it back.

3. What is the interest rate on student loans?

Private banks offer competitive rates between 5% and 12%, depending on the applicant's credit profile. NSFAS charges a much lower interest rate, usually linked to inflation.

4. What happens if I fail my courses?

If you’re funded by NSFAS and fail, your loan won’t convert into a bursary, and you’ll need to repay the full amount. Banks may continue charging interest, and your co-signer may be held liable.

5. Can I use a student loan to pay for accommodation and laptops?

Yes. Both NSFAS and many bank student loans cover costs beyond tuition, including housing, meals, textbooks, and electronic devices like laptops or tablets.

Final Thoughts

Student loans in South Africa offer a much-needed financial lifeline to thousands of students every year. Whether you're applying through **NSFAS** or a private bank, ensure you understand the **terms, interest rates, and repayment conditions** before signing any agreement. Make informed decisions today to secure your academic and financial future tomorrow.