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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

UFS SIFE is the best in SA!

2004-07-09

The SIFE team celebrates their victory with Jack Shewmaker, founder of SIFE in 1975 and past-president of Walmart in the USA, and Moses Kgosana, Chairman of KPMG SA.

The Students in Free Enterprise (SIFE) team of the University of the Free State competed in the National SIFE championships on Thursday, June 17, 2004 at Ceasar’s Convention Centre in Johannesburg.

Strong competition was experienced from the other ten participant SA universities, e.g. the Universities of the Western Cape, Kwazulu-Natal, Cape Town and RAU, but die UFS SIFE team retained the national championship for the third year running.

The team will now represent South Africa and the University of the Free State in Barcelona, Spain at die SIFE World Cup. The competition will be held from 22 to 24 September 2004.

The presentation team members for the competition were Tsholofelo Tlhomelang, Imameleng Matete, Kenneth Lefa, Kabelo Lephaka, Nadia van Staden, Tshepo Mahloko (Multi-Media), Werner Schmidt (Faculty Advisor). Supporting the presentation team were Lineo Peete, Keketso Ntene, Ruth Morienyane, Motaung Mathaba, Tshireletso Seekoe, Peter Letsoalo, Obakeng Msuthwana, Tshepiso Lebentle, JC Langeveldt and Michelle Stanley.

SIFE is a world-wide non-profit organisation with the express aim of encouraging students to spread their business knowledge - gained in the classroom - to the community, to promote and expand the principles of free enterprise.( www.sife.org )

The criteria by which SIFE-projects are measured are the following:

• How free markets work in the global economy.
• How entrepreneurs succeed by identifying a market need and then profitably producing and marketing a product or service to fill that need.
• The personal entrepreneurial, communications, technology and financial management skills needed to successfully compete.
• Practicing business in an ethical and socially responsible manner that supports the principles of a market economy.
• Measuring the results of projects, utilizing mass media and the Internet, involving non-business majors and utilizing a Business Advisory Board, communicating the program through a written report and verbal presentation.

The UFS’ SIFE-team’s presentation complied with all the above mentioned criteria. SIFE UFS’ education drive stretched from primary school learners, to adults who had been working for thirty years – this diverse group was taught about the free market system and its value in the global village. Business ethics and basic business principles were communicated in a fun and interactive way to learners. High-level business advice was given to entrepreneurs who started new projects, e.g. a brick-maker, and marketing advice were given to existing businesses in need of expansion.

If you are interested in helping SIFE UFS achieve its goals, e-mail Werner Schmidt at
schmidtw.ekw@mail.uovs.ac.za or phone him at 051 – 401 3376.

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