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School of Accountancy graduates achieve exceptional results in SAICA ITC professional exams

09 July 2021 | Story Dr Nitha Ramnath | Photo Pixabay

Graduates in the University of the Free State School of Accountancy achieved exceptional results in the South African Institute of Chartered Accountants (SAICA) Initial Test of Competence (ITC). The UFS achieved an 81% pass rate in the April ITC exam for first-time writers of the BAcc Honours and PGDip (Chartered Accountancy) programmes, compared to the national average of 70%.

The ITC examination is the first of two qualifying professional examinations required to qualify as a chartered accountant (CA(SA)) in South Africa and is written by graduates shortly after completion of their formal university studies. There are two sittings for this examination annually, and the April exam is the first for 2021.

“These results were attained despite the very challenging circumstances of the emergency remote teaching environment during 2020 and is testament to the quality of our CA programme and the hard work and dedication of the staff of the School of Accountancy,” said Prof Frans Prinsloo, Director: School of Accountancy. He added that, “the results confirm the ‘quality’ / ‘excellence’ of our CA programme, and reinforce similar observations made by the SAICA monitoring team following their 2020 full visit (which included a detailed evaluation of our CA programme)”.

Transformation of chartered accountancy profession

Seventy percent of UFS graduates passed the April 2021 ITC examination, including 38 African and 3 Coloured graduates, while 10 out of 13 of the Thuthuka Bursary Programme graduates of 2020 passed. More than 60% of UFS graduates who passed the examination are black (i.e., African, Coloured, and Indian), with a pass rate of 73% compared to the national average of 52%, which include first-time and repeat candidates. The results are testimony of the interventions put in place to contribute to the transformation of the chartered accountancy profession.

Student-centred teaching approach

The School of Accountancy follows a ‘student-centred’ teaching and learning approach. During the COVID-19 pandemic, teaching was predominantly remote and was adapted to include ongoing, clear communication about the academic programme, comprehensive teaching materials containing additional explanations, learning notes, comments, cross-references to theory, and step-by-step learning guides per topic to enable students to navigate their learning.

Other interventions have also been put in place to support students financially via the school’s INTRABAS unit, mentorship and peer support initiatives, detailed tracking of student participation and performance, follow-up with students, and regular ‘check-ins’ with the student body to consider the student voice and ensure the relevance of the teaching offering.

The UFS is looking forward to the journey of our candidates and their contributions to the world of work.

News Archive

Prof Finkelstein current and only A-rated researcher in Probability and Statistics in SA

2014-10-28

Prof Maxim Finkelstein
Photo: Johan Roux

Prof Maxim Finkelstein from the Department of Mathematical Statistics at the University of the Free State (UFS) received an A-rating from the National Research Foundation (NRF). This makes him the only A-rated researcher in ‘Probability and Statistics’ regarding Mathematical Sciences in the country.

According to the NRF-rating process, a person with an A-rating is a world leader in his field.

Prof Jonathan Jansen, Vice-Chancellor and Rector, said: "I am absolutely delighted for Professor Finkelstein and for the fact that this is one of the clearest signs that the UFS has significantly increased its standards of research across the institution as a whole."

Prof Finkelstein says this rating means a great deal to him, since it is a reflection of his dedication and perseverance.

“Of course, the rating is not a goal in itself,” Prof Finkelstein says. “The goal is the high quality research and the rating is just an objective indication of this. Along with the satisfaction, this rating brings the responsibility for maintaining this high status in the future.”

Prof Finkelstein conducts his general research in the field of ‘Probability and Statistics’, but his specific area of focus is ‘Stochastic Modelling’. Prof Finkelstein solely lectures postgraduate students and also mentors a few master’s and PhD students. This affords him the time to mainly concentrate on his research.

“Finally, I wish to emphasise the fact that high-quality research became the prime goal at the UFS,” says Prof Finkelstein. He underscores the efforts of the Vice-Chancellor and the Vice-Rector: Research in creating excellent possibilities for researchers. This has already resulted in remarkable improvements in the UFS’s research outputs – and consequently an increase in the number of rated researchers at the university.

A total of 119 UFS researchers currently have evaluation and rating status from the NRF, says Nico Benson, Deputy Director: Research Development. Currently (October 2014) 29 researchers are still waiting for response from the NRF regarding applications submitted. A total of 16 ratings are already known. On the Qwaqwa Campus of the UFS, five researchers are rated.

Prof Finkelstein's A-rating will become effective from 1 January 2015. Ratings are valid for a period of six years and researchers are invited to apply for re-evaluation in the fifth year.

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