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UK FAQ's

Last Updated 21 January 2014 01:44:10 PM

 
UK FAQ's
 

UK FAQ's

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    1. What is SAICA UK?

    The SAICA UK is a company limited by guarantee, which is one of the six regional structures forming part of the South African Institute of Chartered Accountants (SAICA).

    Objectives of the Association

    The committee's primary objectives are to:

    • Serve as a platform for communicating the needs of absentee members to SAICA,
    • Promoting and educating the UK market about the CA (SA) brand,
    • Facilitating access to continuing professional development,
    • Keeping members informed of global and regional developments of matters directly related to their profession,
    • Develop an association for professional accountants in the UK who can network in a structured environment,
    • Promoting the SAICA charity Thuthuka, and
    • Arranging informal networking functions.

    Committee

    The Committee

    There has been representation of CA's (SA) in the UK for over 15 years. The current committee consists of 12 members, based in London.The committee meets on a monthly basis and has a SAICA executive from South Africa in attendance (via conference call). Each committee member is responsible for a specific portfolio and reports back to the main Committee on the developments in his/her portfolio since the last meeting.

    The primary function of the new committee is in line with SAICA's revised strategy of focusing on the key needs of their members. The primary purpose of the committee is to formally represent the UK membership base and communicate the needs of the members to SAICA in South Africa.

    The profiles of the SAICA UK Committee members can be accessed here If you would like to raise any issues for discussion at these meetings, please email them to admin-uk@saica.co.za.

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    2. I am interested in joining the SAICA UK Committee. Who do I contact?

    You will need to complete the nominations form and ask another CA (SA) to complete the proposer part of the document. Nomination forms can be obtained by contacting us at admin-uk@saica.co.za

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    3. How do I contact SAICA UK?

    Contact us at admin-uk@saica.co.za or call us on 44 20 8816 7652.

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    4. How do I become a member of SAICA UK?

    As SAICA UK region is one of the six regional structures of SAICA, there are no separate registration processes if you are a CA(SA). To ensure that you are included in the relevant mailing list it is important for members to update their contact details by logging onto the SAICA website (http://www.saica.co.za) and navigating to the “update your members” link under the membership section of the homepage.

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    5. What CPD Support do SAICA Members have in the UK?

    In respect of CPD, the SAICA UK Committee have arrangements in place with the New Zealand (NZICA), Australian (ICAA), England & Wales (ICAEW) and other locally based institutes which secure preferential member rates on their courses. At present ICAA, ICAEW and NZICA, have offered all SAICA members their member rates on most courses. However, please note there may be one or two exceptions. Do keep an eye out for the regular emails being sent out from SAICA News that will provide further information on any additional locally based CPD courses and opportunities.

    In the second half of 2010 SAICA will be rolling out a new online CPD product available to all of our members for no additional charge. You would be able to view the lectures which are streamed from servers located in SA and earn CPD credits in the process. Further details of this online CPD platform will be communicated to members in due course.

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    6. Will CPD training in the UK be valid for SAICA CPD Hours?

    From a policy perspective all CPD activities that members attend in the UK will be valid for SAICA CPD purposes and members can log these activities on the online recording system.

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    7. How do I record my CPD hours?

    There are 2 options available for members to log their hours:

    1) Online CPD recording system, click here...

    2) Self compliance route where you have elected to maintain your CPD records;

    Members over the age of 60 who are not professionally active are exempt from CPD requirements.

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    8. Is there a deadline for recording myCPD hours?

    The second 3-year CPD cycle has now commenced. From the 1st January 2009 members will be required to complete 120 hours of relevant CPD activity in a 3 year period of which 60 hours should be verifiable. A minimum of 20 hours of learning must be completed each year.

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    9. I need a letter to confirm my membership for emigration/employment purposes. Where do I obtain one?

    A standard letter for this purpose can be obtained from SAICA by e-mailing membership@saica.co.za , telephoning +27 8610 SAICA (72422) or faxing +27 11 616 7491.

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    10. Can SAICA UK region help with finding work in the UK?

    SAICA UK region is staffed by a committee of volunteers, and as such we are not able to provide any support or advice in relation to finding work in the UK.

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    11. Can I have advice on setting up my own company in the UK?

    Unfortunately the committee is not in a position to provide any guidance in respect of the opening of accounting and tax companies in the UK. However, we do have a reciprocal agreement in place with global institutes (England and Wales, Scotland, Ireland, Australia, Canada, et al.) which should allow you to join and open such a practice. There'll obviously be certain conditions involved (eg. that you're a member in good standing and membership of the institute of origin must be retained). There may also be a conversion examination to be written and passed. If you would like a letter of good standing, SAICA will provide one upon request. You will need to confirm you current contact details such as address, telephone numbers, email, etc. to ensure that SAICA's records are up to date. You may do this on the SAICA website by navigating your way to your profile (menus > Membership> Your Profile). You can contact Membership for further information in this regard (membership@saica.co.za).

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    12. How do I join the ICAEW?

    SAICA members can join the ICAEW in one of two ways. First they can apply for ICAEW membership which confers upon the member the right to use the ACA designation by joining under the reciprocal membership agreement we have ICAEW. To be eligible to apply for membership of the ICAEW, you need to be a member of good standing and retain your SAICA membership.
    Otherwise members may elect to join the ICAEW directly and obtain credit for prior learning for some ICAEW exams.

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    13. I’m a CA (SA). What is the process for me to join the ICAEW without going through the reciprocal membership agreement route?

    Members who are not eligible to join via the reciprocal route, and for those who don't want to for a particular reason are requested to click here for further details.

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    14. Can I offer services to members of the public merely by joining the ICAEW under the reciprocal agreement?

    Members who have joined the ICAEW through the reciprocal membership route are precluded from providing services to members of the public for a fee without first applying for a Practicing Certificate. Additional requirements apply for those members who wish to sign off accounts in the UK. For details of how to apply for a Practicing Certificate click here.

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    15. Can I sign off accounts in the UK?

    In order to sign audit reports here in the UK and be granted Responsible Individual (RI) status within a firm of Registered Auditors you must:

    • hold the Audit Qualification
    • hold a valid Practising Certificate
    • apply for Registered Auditor status as a sole practitioner; or Responsible Individual status if you are a partner within a firm of registered auditors

    Step 1: Apply for reciprocal membership of ICAEW

    If you have obtained your CA(SA) qualification through the TIPP route, you would first need to apply for reciprocal membership of the Institute of Chartered Accountants in England and Wales (ICAEW). Annual cost of membership is £290.

    Step 2: Apply for Audit Qualification

    Once your ICAEW membership is approved you would have to apply to sit for the aptitude tests in UK Tax and Law in order to obtain the Audit Qualification (AQ). The cost of the aptitude test is £165.

    In addition you need to demonstrate that you have completed an appropriate period of work experience.

    • During the combined periods of approved training and post qualification work experience, a minimum of three years of general training and work experience. At least two years of the three years must have been completed within a firm of registered auditors
    • During the combined periods of approved training and post qualification work experience, completed a minimum of 240 days of audit work experience within an ICAEW Training Organisation which is also a firm of Registered Auditors.

    Of this work experience:

    • At least 120 days must be in statutory company audit work as defined in the Companies Act 1989, and the rest must be in either statutory audit work or other audit work similar to statutory audit work, where the nature of such work conforms to the definitions agreed by the Institute and the Professional Oversight Board.
    • Your audit work must have been supervised by an individual eligible to sign audit reports as per the requirements of the CCAB (Consultative Committee of Accountancy Bodies) and the Companies Act 2006.
    • Your audit work must have been obtained via an ICAEW Authorised Training Employer (ie Firm)

       

    Step 3: Apply for practice certificate

    You need to:

    • have been a member of the Institute for at least two years;
    • have completed the application form and accompanying guidance notes issued by ICAEW;
    • have complied with the Institute’s requirements on CPD for the two years preceding your application;
    • understand the Fundamental Principles in the Institutes Code of Ethics, in particular, Section 130, which covers professional competence and due care;
    • comply with the Institute’s Professional Indemnity Insurance Regulations;
    • be a fit and proper person to hold a practising certificate (by reference to the Institute’s disciplinary records);
    • pay the annual practising fee (this includes a practising certificate fee and the annual Practice Assurance fee - £259

    Step 4: Apply for Registered Auditor designation

    If your firm wants to become a registered auditor, it will need to:

    • Complete an application form
    • satisfy the Institute’s Audit Registration Committee that it meets the criteria and is a fit and proper firm to carry out audit work
    • pay an annual audit registration fee (sliding scale depending on factors such as number of listed clients, number of offices in the UK and number of partners in the firm)
    • comply with the 'Audit Regulations and Guidance'.
    • comply with the Professional Indemnity Insurance Regulations (Members’ Handbook, Section 6.4)
    • be monitored by the Institute

    They will obviously have certain conditions to be met (eg. that you're a member in good standing and membership of the institute of origin must be retained). There may also be a conversion examination to be written and passed.

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    16. How do I change my contact details?

    Visit the SAICA website (http://www.saica.co.za) and navigate your way to the “update your members” link under the membership section of the homepage.

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    17. Why have I not been receiving the email correspondence from the SAICA UK Committee, when I have registered as an absentee member?

    This may be due to outdated email address details or a number of other reasons. The best way to ensure you get these emails is to update your details via the membership link on the SAICA homepage.

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    18. Are subscription fees different for overseas members compared to South African based members? How do I pay my subscriptions whilst I am in UK?

    In 2009 SAICA abolished the absentee fee previously available to UK resident members as the first step of a planned worldwide equalization of membership fee. The standard subscription rate for members resident in the UK for 2010 was R3,495 compared with R3,984.30 payable by members based in South Africa with the difference due to SA VAT which is not charged on UK membership subscriptions.

    To ensure that you are charged the right amounts please ensure that your contact details are kept up to date. The easiest way to pay your fees is online via the www.saica.co.za web site.

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    19. Is SAICA able to amend the subscription invoice to bill the employer instead?

    Each member is invoice in his/her individual capacity as a CA (SA) so we will be unable to amend or reissue invoices in the name of their employer for subscription fees.

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    20. Do members receive Income Tax relief in the UK in respect of Annual Membership Subscriptions?

    SAICA annual membership fees are deductible as an expense for UK Income Tax purposes for all tax years ended 5 April 2008. Members will have to write into their local tax office setting out the particulars of the amounts being claimed and attach a copy of the subscription invoice in order to obtain the tax refund. For details of the claim procedures please click here…

    If you have not previously claimed a tax deduction for your membership fees you may be eligible to have your taxable income in the prior year’s reassessed and have your tax coding adjusted prospectively. Members have until 5 April 2012 to claim back membership fees for tax years ended 5 April 2008 For details of the time limits on applying for tax relief on fees incurred on other tax years please click here…

    Please e-mail debtors2@saica.co.za for copies of your old fee statements.

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    21. Are members registered in the Channel Islands still subject to the regulations of their respective national society?

    Chartered accountants whose registered address is in the Channel Islands and operate as members of the local island society (i.e. The Jersey Society of Chartered and Certified Accountants and the Guernsey Society of Chartered and Certified Accountants), are still subject to the regulations of the ICAEW in terms of the local legislation – Companies Act etc. By way of an example, the Jersey and Guernsey societies are a sub-branches of the London Society and the Isle of Man is a sub-branch of the Liverpool Society (which are governed by the ICAEW), hence it's members are subject to the rules of the ICAEW in the same way as a London based member would be. This ruling applies in the same way to CA's (SA). There is no exemption from GAA benefits and obligations as a result of residence in the Channel Islands

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    22. How do I log onto the SAICA website?

    You can log on using your membership number and the password you had selected when registering with the site. If you experience any difficulties with this process or can't remember your password or login details please email SAICA at membership@saica.co.za

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    23. How do I reset my password?

    If you’ve forgotten your password or login details please email SAICA at membership@saica.co.za

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    I’ve just completed my CTA. Am I eligible to claim exemption from certain ICAEW exams?

    Exemptions are dealt with on an individual basis, so to find out if you are eligible for credit you will need to apply.

    Graduates can apply for credit for prior learning (CPL) for up to eight assessments of the ACA syllabus: accounting, assurance, business and finance, law, management information, principles of taxation, business strategy and financial management.

    To be eligible for credit based on a degree, you will need to

    • apply for credit within three years of completion of degree studies; and

       

    • have achieved a minimum mark of 50% in all modules of your degree relevant to your application for credit

    You can find the credit for prior learning directory at www.icaew.com/cpl > eligibility and application online > credit for prior learning directory.

    If your degree is listed you will be able to apply for your CPL online. Once you have completed the online application you will need to send us your evidence that you meet the requirements. Please allow a minimum of 28 days for your application to be processed. It can take longer at peak periods.

    If your degree is not listed, or your modules vary from those listed, you will need to apply using the credit for prior learning - graduate application form which can be downloaded from our website www.icaew.com/cpl

    In order for your application to be successful you will need to complete the grids on the form for each subject you are applying for CPL. You will need to demonstrate where in your university degree course (and exams) the areas have been covered. You must also provide a module title/name and a module number for each bullet point listed under the subjects for which you are applying. If you cannot provide a module title/name it is likely that your application will be unsuccessful. In order to evaluate your application you must send a copy of your university transcript and degree certificate plus any/all relevant syllabus or module descriptors and exam papers for each module being used to claim credit.

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    I used to be a SAICA member but allowed my membership to lapse. What is the procedure which I need to follow to be readmitted to SAICA?

    Reinstatement of membership is dependent on various factors including Date of termination; reason for termination; amounts due to SAICA at the date of termination. All ex-members applying for readmission are given an option of applying as new members or as continuous members. To get more information regarding the relevant reinstatement costs and information to for your profile please email saica@saica.co.za quoting your previous membership number and or your SA identity number.

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    I’ve finished all of my ACCA exams but would like to switch over to the CA (SA) route. Am I eligible to be exempt from the QE1 exams?

    No, there is no framework in place for SAICA to recognize ACCA qualifications and vice versa. If you have completed your CTA, you may apply to a SAICA accredited training firm to complete your training contract, which is a prerequisite for sitting the QE1 exams.

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    How do I go about claiming 10 points for English skills when applying for Tier 1 General visa?

    Members are required to separately record the, year, qualification and university where they obtained their Bachelors degree or CTA in order to claim the full 10 points in the UK Border Agency points calculator. This must be done in addition to recording his professional qualification issued by SAICA.

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    I am interested in taking the SAICA exams, I currently have an MBA in finance , is there any exemptions for the course??

    Generally speaking the entry requirement for taking the SAICA exams is the possession of a Certificate of Theory in Accounting (CTA) from an accredited university in the Republic of South Africa and the registration of a training contract with an accredited training organization in South Africa. SAICA does not grant students credit for prior learning (such as MBA, etc), however if you are interested in pursuing the CA(SA) qualification, I'd encourage you to explore enrolling for the 1 year conversion degree course that certain universities in SA may offer. For a list of the accredited universities (https://www.saica.co.za/LearnersStudents/InformationonEducationProviders/InformationonAccreditedProgrammes/tabid/465/language/en-ZA/Default.aspx) Details of our exams can be found here (https://www.saica.co.za/LearnersStudents/Examinations/tabid/469/language/en-ZA/Default.aspx)

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