| Institute of Accounting and Commerce | |
| Abbreviation: | IAC |
| Formation: | 1927 |
| Vat Id: | (for European organizations) --> |
| Status: | Nonprofit organization |
| Headquarters: | Cape Town, South Africa |
| Region: | South Africa |
| Owners: | --> |
| Leader Title: | President |
| Leader Name: | Mr A.W Bezuidenhout |
| Leader Title2: | Vice President |
| Leader Name2: | Mr S.T Cupido |
| Leader Title3: | Chief Executive Officer |
| Leader Name3: | Mr E Nagia |
| Formerly: | The Institute of Administration and Commerce |
The Institute of Accounting and Commerce (IAC) is a Recognised Controlling Body for Accounting Professionals, Tax and Business Rescue Practitioners based in South Africa and is a registered professional body under the National Qualifications Framework Act, 2008.[1] The Institute regularly publishes articles in various publications and distributes a journal to members [2]
The Institute of Accounting and Commerce (IAC) was established in 1927 as a provider of distance learning education and a professional management institute.In 2009 the Institute changed to become a professional accounting membership body only and is registered in South Africa as a non-profit company (NPC) (Reg. No. 1981/011981/08).
In terms of section 60 of the close corporations act 69 of 1984, the IAC registers Accounting Officers[3], and since 2013 is also a Recognised Controlling Body with the South African Revenue Service (SARS) for Tax Practitioners (in terms of section 240 of the tax administration act 28 of 2011).[4] On 21 October 2016 the IAC became a Registered Controlling Body for Business Rescue Practitioners (in terms of Section 138 of the Companies Act 71 of 2008).[5]
The IAC is a member of the Pan African Federation of Accountants (PAFA)[6]