About Us > Overview > History

HISTORY
IPFA was established as a professional body in 1996, to improve financial management throughout government by providing a professional "home" for officials involved in the finance arena.

The timing coincided with the 'Future of Accountancy Education in South Africa' project of the Public Accountants and Auditors Board (PAAB). The project proposed a tiered structure for the entire profession and created the opportunity for raising the status of those dealing with government finances to levels demonstrably on a par with others operating in the profession in the private sector.

It is vital that IPFA's membership arrangements are consistent with the framework of the restructured accountancy profession, as it ultimately emerges, to ensure that the status of its members is equal to that of their counterparts in the private sector and that there is mobility between the public and private sectors.

IPFA's has worked closely with relevant bodies in the private and public sectors and has structured its qualifications and membership framework in such a way to allow for eventual integration with other bodies, as accounting and auditing practices are harmonised across the entire economy.

IPFA SECRETARIAT
IPFA is a corporate body not for gain. Any surplus generated will be re-invested in the profession in the pursuit of the Institute's mission.

It is important that IPFA operates, and is seen to operate, independently of government structures, and the constitution of IPFA accordingly provides for this. Each year, the members elect a Council to govern the Institute, and the Chief Executive Officer is supported by a full-time Secretariat.

The Secretariat is structured into three core functions namely:

• Professional Development Unit
• Technical Unit
• Membership Unit