MEMBERSHIP LEVELS & REQUIREMENTS

SENIOR ASSOCIATE MEMBER (SAIMFO)

Chartered
(previously Senior Associate)

Higher Education Qualification

At least NQF level 8 or higher Qualification in fields of Accounting, Finance or Economics

And / Or

Be a Chartered Accountant (SA).  Must have Certificate in Municipal Financial Management (SAQA Qualifications ID No. 48965) for Local Government employees.

And / Or (New Applicants)

Chartered Framework will be required to become a Chartered member (June and November examinations) – as from 1 April 2020

And / Or (New Applicants)

Complete a Logbook (mandatory prep course)
Compulsory 2-hour per year Ethical Training

Assessment Criteria for Migration:

  • Updated CV
  • Job Description Signed off by Manager
  • Membership fee paid up to date
  • Sign Code of Conduct
  • Complete Application form

Assessment Criteria for New Applicants:

  • Updated CV
  • Job Description/Performance agreements
  • Certified Copy of ID
  • Certified Qualifications
  • Statement of Results
  • Confirmation letter of employment
  • Finance mandatory Accounting III
  • Internal Auditing mandatory Auditing III
  • Option 1

Assessment through experience route (3 case studies plus POE plus Journal of Experience and 3-hour interview)
Or

  • Option 2

Prep Course
And
Board Exam as per Framework

Continuous Professional Development (CPD)
25 points per year
75 points per 3-year cycle

Work Related Experience

Applicant has a minimum of 7 years at Management level of which 5 years must have been on Senior Management level in the Public Sector

Required Subjects

Must have studied at least four of the following subjects in the NQF 8 qualification:
Accounting III
Introduction to Auditing
Introduction to Risk Management
Introduction to Performance Management
Economics/Business Economics III
Financial Management III
Supply Chain Management
Cost and Management Accounting III

Designation to be awarded

Chartered Government Finance Officer (CGFO)
Chartered Government Internal Auditor (CGIA)

Competencies required
(Strategic level of understanding)

Ethical Behaviour and Professionalism
Strategy, Risk and Governance
Accounting and External Reporting
Financial Management
Management Decision making and Control
Auditing and Assurance

 

ASSOCIATE MEMBER (AIMFO)

Professional
(previously Associate)

Higher Education Qualification

NQF Level 7 Qualification in fields of Accounting, Finance or Economics
And / Or
Obtained the Certificate in Municipal Financial Management (SAQA Qualifications ID No. 48965)

And / Or

Complete a Logbook (new applications - mandatory prep course)
Compulsory 2-hour per year Ethical Training

Assessment Criteria for Migration:

  • Updated CV
  • Job Description Signed off by Manager
  • Membership fee paid up to date
  • Sign Code of Conduct
  • Complete Application form

Assessment Criteria for New Applicants:

  • Updated CV
  • Job Description/Performance agreements
  • Certified Copy of ID
  • Certified Qualifications
  • Statement of Results
  • Confirmation letter of employment
  • Option 1

Assessment through experience route (3 case studies plus POE plus Journal of Experience and 3-hour interview)

Continuous Professional Development (CPD)
25 points per year
75 points per 3-year cycle

Work Related Experience

Applicant has a minimum of 5 years at Middle Management in the Public Sector

Required Subjects

Must have studied at least three of the following subjects in the NQF 7 qualification:
Accounting III
Introduction to Auditing
Introduction to Risk Management
Introduction to Performance Management
Economics/Business Economics III
Financial Management III
Supply Chain Management
Cost and Management Accounting III
Auditing III
Risk Management
Audit Reporting
Financial Risk Management

Designation Awarded

Professional Government Finance Officer (PGFO)
Professional Government Internal Auditor (PGIA)
Professional Government Risk Officer (PGRO)

Competencies required
(Management level of understanding)

Revenue (Tariff and Collections)
Expenditure
Budgeting and Costing
Annual Financial Statements and Standards
Insurance, Borrowing and Investments
Supply Chain Management
Asset Management
Internal Auditing
Risk Management

 

LICENTIATE MEMBERSHIP (LIMFO)

Technician
(previously Licentiate)

Higher Education Qualification

NQF Level 6 or higher Qualification in fields of Accounting, Finance or Economics
And / Or
Internal Audit, Risk or Supply Chain
And / Or
Complete a Logbook (mandatory prep course)
Compulsory 2-hour per year Ethical Training

Assessment Criteria for Migration:

  • Updated CV
  • Job Description Signed off by Manager
  • Membership fee paid up to date
  • Sign Code of Conduct
  • Complete Application form

Assessment Criteria for New Applicants:

  • Updated CV
  • Job Description/Performance agreements
  • Certified Copy of ID
  • Certified Qualifications
  • Statement of Results
  • Confirmation letter of employment

Continuous Professional Development (CPD)
25 points per year
75 points per 3-year cycle

Work Related Experience

Applicant has a minimum of 4 years of which at least 2 years must have been on Junior Management (or higher) level or 5 years at any level in a role related to the position in the Public Sector

Required Subjects

Must have studied at least two of the following subjects in the NQF 6 qualification:
Accounting I & II
Economics/Business Economics I & II
Financial Management
Cost and Management Accounting
Supply Chain Management
Asset Management
Auditing I & II
Risk Management
Audit Reporting
Financial Risk Management

Designation Awarded

Registered Government Finance Technician (RGFT)
Registered Government Internal Audit Technician (RGIAT)
Registered Government Risk Technician (RGRT)

Competencies required
(Technical level of understanding)

Revenue (Tariff and Collections)
Expenditure
Budgeting and Costing
Annual Financial Statements and Standards
Supply Chain Management
Asset Management
Internal Auditing
Risk Management
(Must have all the competencies – training to be provided)


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)

Registered
(previously Junior)

Higher Education Qualification

NQF Level 4 or higher Qualification

And / Or

Complete a Logbook
Compulsory 2-hour per year Ethical Training

Assessment Criteria for Migration:

  • Updated CV
  • Job Description Signed off by Manager
  • Membership fee paid up to date
  • Sign Code of Conduct
  • Complete Application form

Assessment Criteria for New Applicants:

  • Updated CV
  • Job Description/Performance agreements
  • Certified Copy of ID
  • Certified Qualifications
  • Statement of Results
  • Confirmation letter of employment

Continuous Professional Development (CPD)
15 points per year
45 points per 3-year cycle

Work Related Experience

Applicant is employed at any level in a role related to the position in the Public Sector – Budget, Treasury and Revenue Office with at least 6 months experience.

Required Subjects

Must have had Accounting as a subject in Grade 12 or tertiary studies.

Designation Awarded

Registered Government Finance Practitioner (RGFP)
Registered Government Internal Auditor (RGIA)
Registered Government Risk Practitioner (RGRP)

Competencies required
(Operational level of understanding)

Revenue (Tariff and Collections)
Expenditure
Budgeting and Costing
Annual Financial Statements (Input)
Insurance and Preparation of Investments
Supply Chain Management
Asset Management
Auditing
Risk Management
Audit Reporting
Financial Risk Management
(Must have at least two)


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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