An accountant is a practitioner of accounting or accountancy. Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant , Chartered Certified Accountant or Certified Public Accountant , or Registered Public Accountant. Such professionals are granted certain responsibilities by statute, such as the ability to certify an organization's financial statements , and may be held liable for professional misconduct. Non-qualified accountants may be employed by a qualified accountant, or may work independently without statutory privileges and obligations.
56-600: Sun International Group is a South African gaming and hospitality company founded by Sol Kerzner . The Group owns diverse assets including the iconic Sun City Resort near Rustenburg in the North West Province , The Table Bay Hotel in Cape Town, and online gaming platform, SunBet.co.za . Specialising in gaming, hospitality and entertainment, the company owns 42.5% of the South African casino market and owns or holds
112-725: A BCom (Hons) in Accounting, and later qualified as a Chartered Accountant . He then took control of the family company. In 1962, he purchased the Astra Hotel in Durban . Following the success of that property, Kerzner built South Africa's first five-star graded hotel in Umhlanga , a town north of Durban – he opened this resort in December 1964 which he named the Beverly Hills Hotel . Following
168-733: A deal with Leslie Young, the Minister of Finance for the bantustan of Bophutatswana , that any investments by his company, Sun International, that had the effect of advertising apartheid abroad, would be tax-deductible. Sun International paid next to no money for taxes in South Africa due to tax breaks. In 1987, an agreement between Young and Kerzner stated that 90% of taxes from entertainers in Bophutatswana would go back to Sun International, with any entertainer making more than R26,000 having to pay half their income to Bophutatswana. In 1990, Kerzner
224-594: A member of the ICASL. A Certified management account also must be a member of the Institute of Management Accountants of Sri Lanka (designatory letters ACMA or FCMA). In Austria, the accountancy profession is regulated by the Bilanzbuchhaltungsgesetz 2006 (BibuG – Management Accountancy Law). In Hong Kong , the accountancy industry is regulated by Hong Kong Institute of Certified Public Accountants ( HKICPA ) under
280-560: A period of relevant work experience. Once admitted, members are expected to comply with ethical guidelines and gain appropriate professional experience. Chartered, Chartered Certified, Chartered Public Finance, and International Accountants engaging in practice (i.e. selling services to the public rather than acting as an employee) must gain a "practising certificate" by meeting further requirements such as purchasing adequate insurance and undergoing inspections. The ICAEW, ICAS, ICAI, ACCA and AAPA are five Recognised Supervisory Bodies ( RSB ) in
336-584: A public accountant must be a member of any professional accountancy body in Singapore. Institute of Singapore Chartered Accountants (ISCA) is the sole local accountancy body, therefore the public accountant must be a member of the ISCA. In Sri Lanka, a chartered accountant must be a member of the Institute of Chartered Accountants of Sri Lanka (designatory letters ACA or FCA). It is the sole local accountancy body, therefore to audit public companies an individual must be
392-527: A self-regulatory body. The Institute of Cost and Management Accountants of Pakistan (ICMAP) offers accountant studies in Pakistan. ICMAP was established under The Cost and Management Accountants Act, 1966. Pakistan Institute of Public Finance Accountants (PIPFA) is an autonomous body recognized mainly in the government sector and established under license from the Securities and Exchange Commission of Pakistan by
448-526: A significant interest in 11 out of 38 operating casinos in South Africa. Sun International Hotels is headquartered in Sandton, Johannesburg. It was incorporated in South Africa in 1967. Their hotel business traces its roots back to 1967, when the Southern Sun Hotel Company was created when South African Breweries and South African businessman Sol Kerzner joined forces. By 1983, Southern Sun Hotels
504-414: A very significant impact during the audit process and further influence audit fees and audit quality. Practitioners have been portrayed in popular culture by the stereotype of the humorless, introspective bean-counter. It has been suggested that the stereotype has an influence on those attracted to the profession with many new entrants underestimating the importance of communication skills and overestimating
560-469: Is designed and graded by the American Institute of Certified Public Accountants (AICPA). A PA (sometimes referred to as LPA—Licensed Public Accountant) is licensed by the state to practice accountancy to the same extent as are CPAs, although in some states PAs are not permitted to perform audits or reviews (notably Iowa, Minnesota, Oregon, & South Carolina). A PA's ability to practice out of state
616-604: Is governed in Bangladesh by the Institute of Chartered Accountants of Bangladesh (ICAB). And The Institute of Cost and Management Accountants of Bangladesh (ICMAB) offers management accountant studies in Bangladesh. In New Zealand, there are two local accountancy bodies the Chartered Accountants Australia and New Zealand (CAANZ) and the New Zealand Association of Certified Public Accountants (NZACPA)
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#1732851669770672-465: Is primarily the legal status and the types of services provided, although individuals may earn more than one certification. Additionally, much accounting work is performed by uncertified individuals, who may be working under the supervision of a certified accountant. As noted above, the majority of accountants work in the private sector or may offer their services without the need for certification. The training time required for accountancy certification in
728-604: Is recognized across all 50 U.S. states . Candidates must pass a three-part exam (called the Special Enrollment Examination ) covering the subjects of individual tax, business tax, and client representation, or must have worked at the IRS for five consecutive years in a position which regularly engaged in these areas. The United States Department of Labor 's Bureau of Labor Statistics estimates that there are about one million persons employed as accountants and auditors in
784-501: Is very limited due to most states having phased out the PA designation. While most states no longer accept new PA license applicants, four states still accept PA applicants for practice privileges within the state. As with the CPA, the requirements for receiving the PA license vary from state to state. Most states require a passage of either two or three (out of four) sections of the CPA exam or passage of
840-638: The Atlantis Resort in The Bahamas . In that capacity, in late 1994, Kerzner made his first major acquisition outside Africa with the purchase of the Paradise Island Resort in The Bahamas. This 1,150-room resort was in bankruptcy at the time. After acquiring the resort, Kerzner launched a re-development and expansion program. It transformed Paradise Island into a 2,300-room resort; that included one of
896-910: The Commonwealth of Nations , which include the United Kingdom , Canada , Australia , New Zealand , Hong Kong pre-1997, and several other states, commonly recognised accounting qualifications are Chartered Certified Accountant ( ACCA ), Chartered Accountant (CA or ACA), Certified Management Accountant ( Institute of Certified Management Accountants ) (CMA), Chartered Management Accountant (ACMA) and International Accountant (AAIA). Other qualifications in particular countries include Certified Public Accountant (CPA – Ireland and CPA – Hong Kong), Chartered Professional Accountant (CPA – Canada), Certified Management Accountant (Institute of Certified Management Accountants|CMA – Australia) ( CMA – Sri Lanka ), Certified Practising Accountant (CPA – Australia) and members of
952-850: The Contabilistas Certificados (CC), responsible for producing accounting and tax information, and the Revisor Oficial de Contas (ROC), more related to auditing practices. The CC certification is exclusively awarded by the professional organization Ordem dos Contabilistas Certificados (OCC), and the certification to become an auditor is awarded by another professional organization, the Ordem dos Revisores Oficiais de Contas (OROC). In general, accountants or auditors accredited by OTOC or OROC are individuals with university graduation diplomas in business management, economics, mathematics or law who, after further studies, applied for an exam and received
1008-478: The Institute of Public Accountants (Australia), and Certified Public Practising Accountant (CPPA – New Zealand). The Institute of Chartered Accountants of Scotland (ICAS) received its Royal Charter in 1854 and is the world's first professional body of accountants. Excepting the Association of Certified Public Accountants, each of the above bodies admits members only after passing examinations and undergoing
1064-545: The Nedbank Golf Challenge annually. Sol Kerzner Solomon 'Sol' Kerzner , KCMG (23 August 1935 – 21 March 2020) was a South African accountant and business magnate . He founded both of South Africa's largest hotel groups, the Southern Sun Hotel Group and Sun International . He was also the founder, chairman and CEO of Kerzner International . During his career in the resort industry, he
1120-598: The helicopter he was traveling in crashed near Sosua , in the Puerto Plata province of the Dominican Republic . He left behind his wife, Vanessa Kerzner, and two children Tai and Kailin. Sol Kerzner's daughter, Andrea, is the founder and CEO of Lalela, a charity dedicated to bringing the arts to at-risk youth in South Africa. Kerzner was awarded the Lifetime Achievement Award for his contributions to
1176-533: The "Mazagan Beach Resort" a luxury hotel in El Jadida , Morocco, was inaugurated by Kerzner accompanied by show celebrities. In October 2013, Kerzner announced that he was building a new Atlantis hotel at Sanya , Hainan Island in China with Fosun International . The 62-hectare resort has 1,300 rooms and a water park like the other Atlantis hotels. The project is reported to have cost $ 1.63 billion. In 1984, Kerzner made
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#17328516697701232-612: The Beverly Hills, Kerzner built the 450-room Elangeni Hotel (now renamed Southern Sun Elangeni & Maharani), overlooking Durban's beachfront and, in 1969, in partnership with South African Breweries , he established the chain of Southern Sun Hotels, which by 1983 operated 30 luxury hotels with more than 7,000 rooms. In 1975, Kerzner opened his first hotel outside South Africa on the Indian Ocean island of Mauritius , which he named Le Saint Géran . In 1979, Kerzner developed Sun City ,
1288-697: The CPA Exam. A CIA typically provides services directly to an employer rather than to the public. A person holding the Certificate in Management Accounting (CMA) is granted the certificate by the Institute of Management Accountants (IMA), provided that the candidate has passed an examination of two parts and has met the practical experience requirement of the IMA. A CMA provides services directly to employers rather than to
1344-613: The CPA banner. The Canadian CPA designation is held by more than 200,000 members in Canada and around the world. In Japan, a certified public accountant must be a member of the Japanese Institute of Certified Public Accountants (JICPA). It is the sole professional accountancy organization in Japan. Chartered accountancy is offered in India by the Institute of Chartered Accountants of India (ICAI),
1400-533: The Comprehensive Examination for Accreditation in Accounting which is administered and graded by the Accreditation Council for Accountancy and Taxation (ACAT). A certified internal auditor (CIA) is granted a certificate from the Institute of Internal Auditors (IIA), provided that the candidate has passed a four-part examination. One of the four parts is waived if the candidate has already passed
1456-424: The Institute of Certified Public Accountants of Indonesia (IAPI) is the professional organization having the authority to issue CPA designation which is the statutory requirements for obtaining public accountant license from the government. The Institute of Chartered Accountants of Pakistan (ICAP) offers chartered accountant studies in Pakistan. ICAP was established under The Chartered Accountants Ordinance, 1961 as
1512-516: The Institute of Cost Accountants of India(ICMAI) previously known as (ICWAI) which is a statutory body constituted under the Cost and Works Accountants Act 1959 enacted by the Parliament of India, it is also the second largest Management Accountancy body in the world. The members of the Institute are widely recognized as Cost and Management Accountants (FCMA, ACMA). Under Public Accountants Law ( UU 5/2011),
1568-725: The Professional Accountants Ordinance (Chapter 50, Laws of Hong Kong ). The auditing industry for limited companies is regulated under the Companies Ordinance (Chapter 32, Laws of Hong Kong ), and other ordinances such as the securities and futures ordinance, the listing rules, etc. HKICPA terminated all recognition of overshare bodies in 2005 for accreditation under professional accountants ordinance. In general, all British RQBs except for CIPFA were re-accredited. Please refer to HKICPA for latest recognition. In Portugal, there are two accountancy qualifications:
1624-631: The U.S. U.S. tax laws grant CPAs and EAs a form of accountant–client privilege . In Australia, there are three legally recognised local professional accounting bodies which all enjoy the same recognition and can be considered as "qualified accountant": the Institute of Public Accountants (IPA), CPA Australia (CPA) and the Chartered Accountants Australia and New Zealand (CAANZ). Other international bodies such as ACCA (The Association of Chartered Certified Accountants) and Institute of Chartered Accountants in England and Wales (ICAEW) enjoy recognition for
1680-673: The UK. A member of one of them may also become a Statutory Auditor in accordance with the Companies Act, providing they are a member of one of the five Recognised Supervisory Bodies RSB mentioned above. All six RQBs are listed under EU mutual recognition directives to practise in 27 EU member states and individually entered into agreement with the Hong Kong Institute of Certified Public Accountants (HKICPA). Further restrictions apply to accountants who carry out insolvency work. In addition to
1736-426: The UK. A member of one of them may also become a Statutory Auditor in accordance with the Companies Act, providing they can demonstrate the necessary professional ability in that area and submit to regular inspection. It is illegal for any individual or firm that is not a Statutory Auditor to perform a company audit. The ICAEW, ICAS, ICAI, ACCA, AIA and CIPFA are six recognised qualifying bodies statutory ( RQB ) in
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1792-542: The US requires specific guidelines: A CPA is licensed by a state to provide auditing services to the public. Many CPA firms also offer accounting, tax, litigation support, and other financial advisory services. The requirements for receiving the CPA license vary from state to state, although the passage of the Uniform Certified Public Accountant Examination is required by all states. This examination
1848-575: The authority given under section 42 of the Companies Ordinance, 1984. The body is co-sponsored by the Institute of Chartered Accountants of Pakistan, the Institute of Cost and Management Accountants of Pakistan and the Auditor General of Pakistan.PIPFA has more than 5,000 members and a number of them are members of ICAP and ICMAP. The institute was established to produce a second tier of accounting professionals in Pakistan Chartered accountancy
1904-653: The bodies above, technical qualifications are offered by the Association of Accounting Technicians , ACCA and AIA, which are respectively called AAT Technician, CAT ( Certified Accounting Technician ) and IAT (International Accounting Technician). In the United States, licensed accountants are Certified Public Accountants (CPAs), and in certain states, Public Accountants (PAs). Unlicensed accountants may be Certified Internal Auditors (CIAs) and Certified Management Accountants (CMAs). The difference between these certifications
1960-524: The book were published in Noseweek the same year. Kerzner was a contact listed in Jeffrey Epstein 's "little black book", which gained attention following the conviction and death of Epstein, who was a convicted sex offender. Kerzner was married four times. His first wife was Maureen Adler and together they had three children: Butch Kerzner , Andrea Kerzner and Beverly Kerzner Mace. His second wife
2016-597: The company that exists today. In early 2015, Sun International sold its hotels in Botswana , Lesotho , Namibia and Zambia to Minor International . Since mid-2015, these have been run as hotels of the Avani Group. As of 2023, Sun International Limited owns or is involved in 13 hotels, casinos, and resorts. Today, Sun International's operations include integrated resorts, luxury hotel products, limited payout machine slot routes, as well as casinos. Sun City Resort plays host to
2072-500: The company's other hotels in South Africa, and remained focused on the hotel market rather than casinos. 1984 saw the commencement of Kersaf Investments Limited, a company that took great interest in Sun International (South Africa). This commencement was by a scheme of arrangement, such that Sun International would form one of Kersaf's subsidiaries. Kersaf was more focused on cinemas, restaurants, shopping and leisure at first, but as
2128-521: The gross revenue generated by Mohegan Sun until 2014. The property is one of the largest gambling and entertainment complexes in the United States. As a result of the success of the Sun City Resort with its Gary Player Country Club golf course (ranked number 1 in South Africa), he became involved in an international hotel, leisure and gambling resorts: most notably for his role as the developer behind
2184-410: The importance of numeracy in the role. An accountant may either be hired for a firm that requires accounting services on a continuous basis, or may belong to an accounting firm that provides accounting consulting services to other firms. The Big Four auditors are the largest employers of accountants worldwide. However, most accountants are employed in commerce, industry, and the public sector . In
2240-783: The industry during the International Hotel Investment Forum (IHIF) in March 2019. Kerzner was appointed an honorary Knight Commander of the Order of St Michael and St George , which allowed him to have the postnominal letters 'K.C.M.G.' after his name - but not the prenominal title of 'Sir' before his name, as he was not a citizen of a Commonwealth realm or the U.K. at the time of his honor being conferred. Kerzner died of cancer on 21 March 2020 in Cape Town. Accountant Cahan & Sun (2015) used archival study to find out that accountants' personal characteristics may exert
2296-531: The most ambitious resort project in Africa. Over a period of ten years, he built four hotels, a man-made lake, two Gary Player -designed championship golf courses, and an entertainment centre with an indoor 6,000-seat multi-purpose arena at which he presented many superstars including Frank Sinatra , Liza Minnelli , Queen and Shirley Bassey . The arena was also the venue of many World Title fights promoted by Bob Arum . In 1985, Kerzner's Sun City, South Africa resort
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2352-709: The next twenty years passed, its hotel and casino interests thrived under the Sun International brand, and slowly Kersaf began to dispose of its other interests and acquire more share in Sun International. After the end of Apartheid in South Africa in 1994, the so-called homelands were re-integrated into the new South Africa. This allowed Southern Sun to develop its own gaming resorts and began to compete increasingly with Sun International. In 2000, Southern Sun sold its stake in Sun International to Kersaf Investments Limited, who then continued to acquire minority interests in Sun International. In 2004, Kersaf Investments Limited merged with Sun International to form Sun International Limited,
2408-520: The operating name of New Zealand Association of Accountants Inc (NZAA). To audit public companies an individual must be a member of either the CAANZ or an otherwise gazetted body. Chartered Certified Accountant (Association of Chartered Certified Accountants or FCCA) qualification has also been gazetted under. An ACCA member can practice as long as they hold an ACCA public practice certificate (with audit qualification) in their country of origin. In Singapore ,
2464-572: The property. This expansion was overseen by Alan Leibman, which included 21 retail outlets and new restaurants by celebrity chefs Jean-Georges Vongerichten , Nobu Matsuhisa and Bobby Flay . Kerzner extended the Atlantis brand globally with the development of Atlantis, The Palm , Dubai, with a 1,500-room, water-themed resort opened in late-September 2008 on The Palm Jumeirah ; a multibillion-dollar leisure and residential development in Dubai. In September 2009,
2520-534: The public. A CMA can also provide services to the public, but to an extent much lesser than that of a CPA. An Enrolled Agent (EA) is a federally authorized tax practitioner empowered by the U.S. Department of the Treasury to represent taxpayers before the Internal Revenue Service (IRS). Enrolled agent status is the highest credential awarded by the IRS, unlimited rights of representation. The EA credential
2576-857: The purposes of supporting their members in their careers. For instance, ACCA has achieved recognition by the Tax Practitioner Board, as Tax and BAS agents, in 2010. In Canada, a Chartered Professional Accountant (CPA) must be a member of the Chartered Professional Accountants of Canada (designatory letters CPA). Up to 2013, there were three nationally recognized accounting designations in Canada: Chartered Accountant (CA), Certified General Accountant (CGA), and Certified Management Accountants (CMA). The national CA and CGA bodies were created by Acts of Parliament in 1902 and 1913 respectively, The national CMA organization
2632-589: The second largest accounting body in the world. This Institute was established in 1949 under the Chartered Accountants Act, 1949 for the regulation of the profession of chartered accountants in India. The ICAI set up the Accountancy Museum of India in 2009, the third museum of accounting in the world. It is located at ICAI's office in Noida .A Cost and Management Accountant is registered as a member under
2688-597: The world's grandest artificial marine habitats and the Caribbean's biggest casino. In 2002, Kerzner launched One&Only Resorts which currently operates numerous properties in The Bahamas, Mexico, Mauritius, the Maldives, South Africa, Dubai, Rwanda and Hayman Island . New projects by the company are also planned for China, Montenegro and Saudi Arabia. In early 2007, Kerzner expanded Atlantis, Paradise Island with 2 new hotels; The Cove, and The Reef, which added 1,100 new rooms to
2744-568: The world's leaders and heads of state. In 1996, Kerzner opened the Mohegan Sun casino in Uncasville, Connecticut . In 2000, a second phase of the project was opened including a 1,200-room hotel through a joint venture with the Mohegan Tribe of Connecticut called Trading Cove Associates. TCA relinquished its management of the resort in 2002, but Kerzner through his company received a 5% dividend on
2800-528: Was Shirley Bestbier; they had two children: Brandon Kerzner and Chantal Kerzner Sweeney. She committed suicide soon after the birth of her second child. His marriage to his third wife, Miss World 1974 Anneline Kriel , ended in divorce after five years. During a lengthy period in the 1990s, he dated the model Christina Estrada and got engaged, but never married her. He married his fourth wife, Heather Murphy in 2000 and they divorced in 2011. Kerzner's son, Howard "Butch" Kerzner died on 11 October 2006 when
2856-432: Was established by CICA and CMA Canada on January 1, 2013, under the Canada Not-for-profit Corporations Act, to support Canadian provincial accounting bodies that were unifying under the CPA banner. CGA-Canada integrated with CPA Canada on October 1, 2014, completing the unification of Canada's accounting profession at the national level. All recognized national and provincial accounting bodies in Canada have now unified under
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#17328516697702912-516: Was established under the Canada Corporations Act in 1920. In January 2012, following eight months of member and stakeholder consultation, the Canadian Institute of Chartered Accountants (CICA), the Society of Management Accountants of Canada (CMA Canada) and Certified General Accountants of Canada (CGA-Canada) issued A Framework for Uniting the Canadian Accounting Profession under a new Canadian Chartered Professional Accountant (CPA) designation. Chartered Professional Accountants of Canada ( CPA Canada )
2968-408: Was found to have paid R5 million to the Transkeian Chief George Matanzima for gaming licenses, R2 million of which was said to be a bribe. The case surrounding this was dropped in 1997. In 1997, Alan Greenblo was banned from publishing a biography on Kerzner, Kerzner - Unauthorized . While Kerzner wanted sections of the book to be removed, Witwatersrand Judge Monas Flemming banned it. Sections of
3024-417: Was involved in various political and business controversies. Kerzner was born in Durban to Russian Jewish emigrants. His family owned and operated a chain of kosher hotels. Prior to hospitality, Kerzner played with the Johannesburg Symphony Orchestra and was also an avid boxer becoming the Varsity Welterweight Champion. Kerzner graduated from the University of the Witwatersrand , Johannesburg with
3080-459: Was operating 35 hotels, and generating a net income of $ 35 million. At this time, South African Breweries split its hotel interests into two and Sun International, headed by Sol Kerzner, retained all of the casino hotels located in the areas that South Africa had designated as "independent homelands" and had Southern Sun as a 20% stakeholder. Sol Kerzner sold his shares in Southern Sun to focus on Sun International (South Africa). Southern Sun retained
3136-413: Was the topic of an anti-Apartheid rock album titled Sun City by a group of rock musicians calling themselves Artists United Against Apartheid . In 1994, following the first multiracial elections in South Africa, Kerzner was asked by incoming President Nelson Mandela to arrange the VIP function at the Presidential Inauguration , which was attended by approximately a thousand people, including many of
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