Background

 

The Somali Institute of Certified Public Accountants (SICPA) is a Professional Accountancy Organization (PAO) to be established in Somalia to maintain public interest through effective regulation of the profession and participate in nation-building via thought-leadership and innovation.

 

Membership Categories

There shall be two main categories of membership:

  1. Individual Membership and
  2. Firm Membership means an accounting or auditing firm engaged in public practice in Somalia.

The individual Membership shall have the following sub-categories:

  • Fellow Members
  • Full Members
  • Associate Members
  • Accounting Technicians
  • Honorary Fellow

 

(1) Fellow:

A full member shall receive this designation upon the fulfillment of the following requirements:

  1. a) If the member is in good standing with the Institute or has been a member in good standing with an equivalent Institute for a continuous period of five (5) years prior to membership of the Institute;

 

(2) Full Membership 

A person shall be eligible for full membership of the Institute if he or she:

  1. passes the qualifying examinations conducted by the Education and Examinations Committee and completes the practical training prescribed by the

Council; or

  1. Holds a professional qualification of a chartered accountant or certified public accountant issued by a body of professional accountants in another country that has full membership of IFAC.
  • Associate Member:

The person is eligible for membership as an associate member of the Institute if he or she:

  1. passes a qualifying examination conducted by the Education and examinations

Committee but does not have practical training prescribed by the Council; or

  1. passes professional examinations from a professional accountancy body in another country that has full membership of IFAC but has not yet completed his practical experience requirement in order to become a full member of that accountancy body.
  • Certified Accounting Technician:

To be eligible for registration as a Certified Accounting Technician, a person shall fulfill any one of the following requirements:

  1. to be a holder of the Certified Accounting Technician certificate awarded by the

Institute;

  1. to be a holder of a certified accounting technician certificate awarded by a body of professional accountants outside Somalia which is a full member of IFAC.

 

Eligibility for membership 

a) Full Member/Fellow Member

An individual shall be eligible for full membership of SICPA if the individual:

  • Has passed all examinations of the institute and has three years experience or has obtained IFAC recognized institutions’ certification and qualification and is an active member.
  • Has signed to adhere to the SICPA code of conduct and bylaws
  • Has paid all payments required from him/her
  • Satisfies any other requirement as specified by the Council.

For fellow members, shall fulfill all of the above and should have been a full member for full five consecutive years.

b) Associate Member

A SICPA member shall be eligible for associate status if they have passed or obtained exemptions from the institute’s Qualification examinations or pass all examinations of an IFAC recognized body and:

  1. Has not yet completed three years of approved accountancy experience in accordance with the institute’s Practical Experience Requirement.
  2. Has singed to adhere to the SICPA code of conduct and bylaws
  3. Has made all payments required from him/her

 

  1. Satisfies any other requirement as specified by the Council.

b) Accounting Technician (CAT)

An individual shall be eligible to be registered as a CAT student if the individual satisfies the Institute’s requirements, as laid down from time to time, for acceptance on the CAT qualification.

Application of the Charter, bye-laws, and regulations

  1. Upon and following admission to membership, the Act, the bye-laws, and the regulations made pursuant to the bye-laws for the time being in force shall apply to and bind every person so admitted for so long as they are a member and, insofar as the Charter, bye-laws and such regulations so provide, thereafter.
  2. Every person shall, on applying for admission to membership, sign an undertaking that they will, if admitted, and for so long as they are a member and, insofar as the Charter, bye-laws or such regulations so provide, thereafter, observe the Charter, bye-laws and such regulations and that they will not use any designation or designatory letters suggesting that they are a member of or have any other connection with SICPA after they have ceased to be a member of the institute.

Admission fees and annual subscriptions

  • Each member must pay an admission fee on admission to membership of the institute. In addition, for so long as they remain a member of the institute, they must pay an annual subscription to the institute.
  • Admission fees are due on admission and annual subscriptions on 1 January of each year, unless the Council shall otherwise direct. Annual subscriptions shall be payable whether or not the member intends to remain a member for the entire year to which the subscription relates.
  • The Council may, in its absolute discretion, vary, suspend or waive payment of the admission fee or annual subscription payable by any applicant for membership or by any member on such terms and for such period as it may think fit.
  • annual subscriptions applicable for the calendar year 2022 shall be as follows:
Membership Type Annual Subscription Admission Fees
Fellow $150 $100
Full Member $150 $100
Associates (Affiliates) $100 $100
Student $30 $20

 

 

             

Appendix- Registration Process

Any members who is applying SICPA membership shall submit the following:

  1. IFAC recognized membership certificate
  2. Passport copy
  3. Passport-sized photograph
  4. Good standing letter from his body
  5. Updated Curriculum Vitae
  6. Payment slip

All interested members shall register via www.sicpa.so using MySICPA portal. For any assistance, please contact us:

info@sicpa.so

Telephone: +252 615132918