Knowledge Centre

Accountant in Practice   

Thousands of South Africans earn income by doing private accounting work — but without recognition, it’s risky, undervalued, and unsustainable. CIBA turns this into a trusted profession. 

1. What It Is

Private accounting work is how many accountants begin their journey. You start by helping friends, small businesses, or NPOs with their books, tax, payroll, or compliance. It often begins as a side hustle — but without the right foundation, it can become a liability. 

Typical tasks include: 
Monthly bookkeeping and invoicing 
Filing tax returns 
Registering companies or updating CIPC records 
Running payroll for SMEs or NPOs 
Preparing basic financials (not signing off) 
Advising on BEE, UIF, or compliance 

The work is real. The risk is too. 

2. Why It Matters to You

  • Flexible income: Many start part-time, earning evenings and weekends. 

  • Low entry barrier: You can begin with little capital or overhead. 

  • But: Without professional backing, you carry all the risk — mistakes, legal exposure, and clients questioning your credibility. 

  • Recognition gap: Without a designation, clients can’t tell if you’re competent or compliant. 

The Designation Advantage 

When you hold the Chartered Business Accountant in Practice (CBAP) designation, you move from informal to formal — from risky to recognised. 

It shows clients and regulators that you are: 

    • Accountable to a professional body 

    • Committed to ethics and lifelong learning 

    • Covered by PI insurance and professional support 

    • Legally recognised to perform certain statutory work 

    • A lower-risk, higher-value practitioner 

This is how you charge more, protect yourself, and build a business you’re proud of. 

3. Who Does This Work? 

Private practice is common among: 

  • Unemployed graduates earning extra income 

  • Retrenched professionals starting again 

  • Stay-at-home parents running a small practice 

  • Bookkeepers “going out on their own” 

  • Accountants with degrees but no designation 

  • Side hustlers with tax and payroll skills 

Some are experienced. Others are just starting out. Most don’t realise the professional and legal expectations they’re stepping into. 

4. How Much Do You Earn? 

Earnings vary widely depending on your services, experience, and seriousness: 

  • Side hustle (evenings/weekends): R5,000 – R15,000/month 

  • Part-time practice: R15,000 – R40,000+/month 

  • Full-time informal practice: R40,000 – R80,000+/month 

  • Freelance/Hourly: R250 – R600/hour 

CBAP designation lifts both your income and your professional standing. 

5. Skills You Need 

  • Solid bookkeeping and accounting knowledge 

  • Practical tax and compliance understanding 

  • Software skills (Sage, Xero, QuickBooks, Excel) 

  • Client communication and trust-building 

  • Business acumen and independence 

  • Ethics and integrity 

6. Career Path 

Most practitioners start informally — but with CIBA, you can grow into a regulated, trusted professional: 
Start → Side hustle / Private Accounting Work 
Next → Recognised CBAP designation 
Then → Licensed CBAP with specialist services (Tax, Independent Review, etc.) 
Eventually → Practice owner, Consultant, or Sector Specialist 

7. Key Rules, Standards, or Requirements 

  • Companies Act – defines accounting officer roles and reporting responsibilities. 

  • Tax Administration Act – requires tax practitioners to belong to a Recognised Controlling Body. 

  • CIBA Code of Ethics – ensures competence, honesty, and accountability. 

  • PI Insurance & CPD – critical protections and obligations for practice.

8. How to Apply / Use This Role 

  • Join CIBA – to move from informal to professional. 

  • Apply for the Chartered Business Accountant in Practice (CBAP) designation – your legal recognition. 

  • Choose specialist licences (Tax Practitioner, Independent Reviewer, Business Rescue, etc.) to expand your services. 

  • Protect yourself – with PI insurance and legal support. 

  • Build credibility – show clients you’re backed by law and a professional body. 

8. Common Mistakes to Avoid 

  • Doing work without a designation — it leaves you exposed. 

  • Skipping CPD — laws and compliance rules change constantly. 

  • Operating without PI insurance — one mistake can cost your practice. 

  • Undervaluing your se