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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

UFS Business School positioned as key partner in the fight against fraud

2016-11-21

A collaborative effort to curb the scourge of fraud in public and private companies has been identified as the most effective method at the launch of International Fraud Awareness week, 13-19 November. The programme kicked off with a media briefing held in Bloemfontein, under the theme: “Curb Fraud and Accelerate Economic Transformation”. At this occasion, the Free State Provincial Treasury and key partner institutions which are: UFS Business School, Standard Bank, Association of Certified Fraud Examiners (ACFE), and PricewaterhouseCoopers, made a pronouncement on their efforts to stop fraud in public and private institutions.

Strategic partnerships empower companies
The UFS Business School, in collaboration with Strategic Investigations and Seminars, formed a collaborative effort to present the Advanced Certificate in Fraud Examination, thus empowering individual companies to have within their ranks, certified fraud examiners. The programme is a registered SAQA, NQF level 7 course comprising four modules; Law, Investigation, Fraud Prevention, Detection and Ethics, Financial Transactions and Fraud Schemes. Students are assisted to continue to the ACFE Board examination in order to become internationally accredited. In 2016, a new e-learning model was introduced to decrease the time spent away from the workplace, thereby encouraging more professionals to enrol.

Commitment is key driving force
Speaking at the media briefing, Jo’Anni Deacon, Senior Officer at the UFS Business School, said “by presenting the programme, the university had positioned itself as a key partner with provincial government and other entities in the fight against fraud”.

Head of Department in the Free State Provincial Treasury, Godfrey Mahlatsi, reiterated the stance of zero tolerance against fraud, and that the department was committed to ensuring that this partnership continued to grow, enabling all to strengthen the message that fraud and corruption undermined the goals and objectives of the National Development Plan.

Gerhard Geldenhuys, Director of PwC Forensic Services said: “I believe we are making a difference and further believe that the time for dialogue on fraud is now better than ever.”

The week-long campaign encourages employees (both in the public and private sector), and business leaders, to proactively take action to minimise the impact of fraud in their environments.

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