MEMBERSHIP LEVELS & REQUIREMENTS

SENIOR ASSOCIATE MEMBER (SAIMFO)

  Finance Audit Risk Management
Higher Education Qualification At least NQF level 8 (Hon Degree) Qualification in fields of Accounting, Finance or Economics AND must have passed Accounting III

OR

Chartered Accountant (SA)
At least NQF level 8 (Hon Degree) Qualification in fields of Auditing, Risk, and Compliance AND must have passed Auditing III

OR

Certified Internal Auditor
Certified Fraud Examiner or Related
At least NQF level 8 (Hon Degree) Qualification in fields Risk, and Compliance AND must have passed Risk Management III

OR

Certified Risk Practitioner (National Treasury) or Equivalent
Work Related Experience Minimum of 7 years at senior management and middle management levels, of which 2 must be at senior management level Minimum of 7 years at senior management and middle management levels, of which 2 must be at senior management level Minimum of 7 years at senior management and middle management levels, of which 2 must be at senior management level


ASSOCIATE MEMBER (AIMFO)

  Finance Audit Risk Management
Higher Education Qualification At least NQF level 7 (Bachelor's Degree) qualification in fields of Accounting, Finance or Economics and must have passed Accounting III

OR

Certificate in Municipal Financial Management (SAQA Qualification ID No. 48965) and must have passed Accounting III
At least NQF level 7 (Bachelor's Degree) Qualification in fields of Auditing, AND must have passed Financial Accounting III/Internal Auditing III

OR

Certificate in Municipal Financial Management (SAQA Qualification ID No. 48965) and must have passed Financial Accounting III /Internal Auditing III
At least NQF level 7 (Bachelor's Degree) qualification in fields of Risk, AND must have passed Risk Management

OR

Compliance management and must have been Accredited as Compliance Practitioner
Work Related Experience Minimum of 5 years’ experience at middle Management Level Minimum of 5 years’ experience at middle Management Level Minimum of 5 years’ experience at middle Management Level


LICENTIATE MEMBERSHIP (LIMFO)

  Finance Audit Risk Management
Higher Education Qualification At least NQF level 6 Qualification in fields of Accounting, Finance or Economics and must have passed Accounting II At least NQF level 6 Qualification in fields of Auditing/Internal Auditing II , Compliance AND must have passed Auditing II/Internal Auditing II At least NQF level 6 Qualification in fields of Risk and Performance Management AND must have passed level II Risk and performance management
Work Related Experience Minimum of 4 years of which at least 1 year must be at middle management level and at least 3 years at any level in a role related to the position of the official

OR

6 years at any level in a role related to the position of the official
Minimum of 4 years of which at least 1 year must be at middle management level and at least 3 years at any level in a role related to the position of the official

OR

6 years at any level in a role related to the position of the official
Minimum of 4 years of which at least 1 year must be at middle management level and at least 3 years at any level in a role related to the position of the official

OR

6 years at any level in a role related to the position of the official

Current Licentiate members need to study in the Financial Accounting/Auditing/Internal Auditing field, as Accounting III / Auditing III/Internal auditing III is necessary in order to apply for membership on Associate or Senior Associate level.


JUNIOR MEMBERSHIP (JIMFO)

  Finance Audit/Risk Management
Higher Education Qualification Completed Grade 12 (NQF level 4) Completed Grade 12 (NQF level 4)
Work Related Experience In-Service of local or related authority In-Service of local or related authority

It is advisable to choose Accounting/Auditing/Internal Auditing as one of the subjects when you further your studies in order for you to apply for either Licentiate or Associated Membership Level.


GENERAL MEMBERSHIP

  Finance Audit/Risk Management
Who can apply?

(Any person/s who is involved in finance matters but do not have a finance related qualification)
  • Municipal Finance Officers
  • Chief Financial Officers
  • Municipal Managers
  • Mayors and MMCs
  • Councillors who are Finance Portfolio Members or who have served at least 2 years as a Finance Portfolio member
  • Officials in a related institution involved in financial matters
  • Officials in the private sector involved in municipal finance
  • Municipal Auditing Officers
  • Municipal Managers
  • Mayors
  • MMCs Corporate Service and Performance, Monitoring and Evaluation
  • MPAC Chairperson
  • Councillors/Officials who are members of an Audit Committee or who have served at least 2 years as an auditing Portfolio member
  • Officials in a related institution involved in auditing matters
  • Officials in the private sector involved in municipal auditing


REGISTERED STUDENT

  Finance Audit/Risk Management
Higher Education Qualification A person who is fulltime studying in Finance/Auditing related qualification at a tertiary institution and who is not working in a Local Authority or Public Sector


TAKE NOTE:

"Local or related authority" means any or all of the following:
  • A local authority as defined in the Constitution of the Republic of South Africa;
  • A local authority of any independent country in Southern Africa;
  • Any organization, which provides regional or local services, including financial services, Internal and External Audit, Risk and Performance Management, Compliance Practice as approved by the Institute Council.

Any of the following organizations:
  • Provincial and National Departments dealing directly with local government & public sector finance;
  • Organized Local Government & Public Sector;
  • The Auditor-General;
  • Auditing firms dealing directly with local government & public sector finance ;
  • Members of the SETA for Local Government & Public Sector, Water and Related Services; and
  • Tertiary Institutions.


Tel: +27 11 394 0879
Email: ceo@cigfaro.co.za

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