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UFS students attain a 94.7% pass rate in challenging SAICA exam

23 August 2019 | Story Valentino Ndaba

UFS Accountancy students — The UFS School of Accountancy is fast becoming one of the best in the country.

Becoming a Chartered Accountant (SA) entails successfully completing the rigorous education and training requirements set by the South African Institute of Chartered Accountants (SAICA). As part of these requirements, all prospective CAs are required to write SAICA’s challenging Initial Test of Competence (ITC). A total of 83 graduates from the University of the Free State (UFS) passed the 2019 ITC examinations, making the Kovsie community and School of Accountancy proud.

Prof Frans Prinsloo, the Director at the UFS School of Accountancy, applauded the successful graduates – of whom 39 are African, five coloured, one Indian, and 38 white. “More than 55% of our graduates who wrote the exam are black (African, coloured and Indian), demonstrating that our emphasis on building the pipeline of under-represented prospective Chartered Accountants (SA) is paying off in terms of both racial and gender inclusion.”

Rising above the ultimate test
SAICA released the results of the June 2019 ITC examination on Friday 16 August 2019. The ITC examination is the first of two professional examinations required for qualification as a Chartered Accountant (SA), and is written shortly after completion of formal university studies. There are two sittings of this examination annually, in January and June.

Compared to the national average pass rate of 75.4% for the 2019 ITC examinations, UFS BAcc Honours and Postgraduate Diploma in Chartered Accountancy graduates delivered a superior performance. The 94.7% pass show that our graduates are a force to be reckoned with.

Upping standards
More than 10 of the Thuthuka Bursary Programme graduates of 2018 who wrote the 2019 ITC examinations, passed, which translates into a 92% pass for this group. Such an achievement also confirms the success of the bursary programme ‘wraparound support’ interventions, by delivering results well in excess of the national average. These interventions also extend to the development of professional skills essential for the corporate world – thereby ensuring that these graduates are not only technically strong, but ‘work-ready’.

Best in the business of excellence
“These results place the UFS School of Accountancy amongst the best in the country in terms of Chartered Accountancy education, and is testament to the hard work of the academic staff and the quality of our CA programme,” says Prof Prinsloo.

News Archive

Prof Prakash Naidoo appointed as Vice-Rector: Operations

2017-09-13

Prof Prakash Naidoo has been appointed
as Vice-Rector: Operations
Photo: Stephen Collet

The Council of the University of the Free State (UFS) approved the appointment of Prof Prakash Naidoo as Vice-Rector: Operations, during its quarterly meeting held on the South Campus in Bloemfontein on 8 September 2017.

Prof Naidoo is a former Deputy Vice-Chancellor: Resources and Planning at the Vaal University of Technology (VUT). He has also been the Executive Dean: Faculty of Management Sciences at VUT. Prior to this, he was a lecturer in the Department of Accounting at the Durban University of Technology (DUT), and Vice-Dean and Acting Dean of the Faculty of Commerce at DUT.
“Prof Naidoo is a seasoned senior manager and an excellent appointment in this vital position. He understands the higher-education sector, and the Council is satisfied by the quality and extent of experience which he will bring to the position,” said Mr Willem Louw, Chairperson of the UFS Council.

He holds a PhD in Management Accounting, MComm in Management Accounting, Honours in Accounting, Honours in Economics, BComm (Acc), and a University Diploma in Education.

Prof Naidoo is a registered professional accountant with the South African Institute of Professional Accountants (SAIPA), an associate of the Chartered Institute of Business Management (CIBM), and an Internationally Certified Fraud Examiner (ACFE). He was also an international associate of the American Institute of Certified Public Accountants (AICPA).
He served as member and chairperson on various boards and forums, including the Investment Committee of the National Tertiary Retirement Fund (NTRF); Audit Committee of the National Institute on Higher Education in Mpumalanga (NIHE); Audit Committee of the Higher Education Purchasing Consortium (PURCO), and other task teams in higher education. He also served as a former director of ACFE (SA Chapter), where he received a commendation for his work in fighting fraud and corruption in the country. He has written and published numerous papers, supervised research, presented papers at conferences, and published one book.
Prof Naidoo is currently the Campus Principal of the university’s Qwaqwa Campus. He will start in the new position as from 1 January 2018, following the subsequent retirement of Prof Nicky Morgan, current Vice-Rector: Operations at the end of December 2017.

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