Chartered Accountant in South Africa

In South Africa only one accounting body manages the designation CA(SA) (Chartered Accountant (South Africa) namely SAICA (South African Institute of Chartered Accountants). A separate registration is needed for Chartered Accountants wishing to act as Auditors, namely RAA (Registered Accountant and Auditor). The RAA Designation are controlled by PAAB (Public Accountants and Auditors Board.).
The public are often mistaken by thinking that all Chartered Accountants may act as Auditors. Since TOPP (Training Outside Public Practice) a great number of members earned the designation Chartered Accountant whith no knowledge or experience in Auditing. These Chartered Accountants specialise in financial management and almost exclusively act as financial directors or managers for large corporations.
Various other accounting bodies play a role in South Africa. Of these the CFA and CPA designations are the best known. These accountants mainly act as accounting officers for close corporations (A legal entity much like a company, but with less regalatory measures). No person other than a person holding both the CA(SA) & RAA designations may act as an auditor for companies.