TMA SA Purpose & Scope

The purpose of this policy is to set out the accreditation policy for all TMA Southern Africa (TMA-SA) members who wish to be accredited in terms of the professional status granted to TMA-SA by the South African Qualifications Authority (SAQA). Furthermore, it is intended that this policy will provide a foundation for TMA-SA office bearers to make decisions in respect of the granting of accreditation status to individual members. It is also intended as a guide for members to follow when applying for professional accreditation.

The scope of the policy applies to all individual TMA-SA members and all TMA-SA structures (i.e. TMA-SA Board and various committees situated in Johannesburg, South Africa, all branches within South Africa and all branches that exist or may exist in the future in other Southern African countries).

In order to be accredited you are required to be a member of the TMA SA

Background

In terms of Sec 138(1)(a) of Chapter 6 of the Companies Act (Act. No. 71 of 2008 as amended), all business rescue practitioners must be a member in good standing of a legal, accounting or business management profession accredited by the Companies and Intellectual Property Commission (CIPC).  It was decided that for TMA-SA to play a meaningful role in the business rescue industry, it is necessary to become accredited by CIPC.  This was a two stage process - first TMA-SA had to be recognised by SAQA as a professional body and then accreditation had to be granted by the regulator, the CIPC.

On 22 November 2017 SAQA advised the board of TMA-SA that its application to be recognised as a professional body had been approved with immediate effect. On 27 November 2017 TMA-SA received confirmation in writing from the CIPC that its application to be recognised as a professional body for Business Rescue Practitioners had been approved. As part of the submission to SAQA, TMA-SA defined three professional designations that may be granted to individual members.

They are:

  1. Associate Turnaround Practitioner (ATP)
  2. Certified Turnaround Practitioner (CTP)
  3. Professional Turnaround Practitioner (PTP)

Professional Designations

TMA-SA Designation E1
Minimum underlying Qualification
E2.
Minimum experience requirement

E3.
Ethics and practice compliance

E4.
Capstone assessment to confer designation
Associate Turnaround  Practitioner – ATP Cognate B Com or equivalent* Less than 5 years of related experience Signed the TMA-SA Code of Conduct and provide evidence of no transgressions. Completed the Certified Rescue Analyst (CRA) course* and being successful in the ATP panel interview.
Certified Turnaround Practitioner – CTP Cognate B Com or equivalent* More than 5 but less than 10 years of related experience Signed the TMA-SA Code of Conduct and provide evidence of no transgressions Completed the CRA* and being successful in the CTP panel interview
Professional Turnaround Practitioner – PTP Cognate B Com or equivalent* 10 or more years of related experience Signed the TMA-SA Code of Conduct and provide evidence of no transgressions Completed the CRA* and being successful in the PTP panel interview

 

Awarding of a designation to any TMA-SA member will be done at the sole discretion of the TMA-SA Accreditation Committee.  Any member wishing to receive a designation award should apply to the Accreditation Committee and the Committee will consider the merits of each applicant against that criteria set out in this policy document.
(See Section 8 - The Accreditation Process)

 

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