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UFS students achieve outstanding success in the SAICA ITC examination

18 April 2024 | Story Anthony Mthembu | Photo Supplied

Mia Pretorius, one of the accountancy graduates from the UFS Class of 2023, excelled in the SAICA ITC examination, securing the 6th position nationally.

The accountancy graduates of the University of the Free State (UFS), Class of 2023, have showcased their excellence by achieving an impressive 86% pass rate in the January 2024 Initial Test of Competence (ITC) examination administered by the South African Institute of Chartered Accountants (SAICA). This achievement underscores the rigorous academic standards and dedication upheld by both the students and the esteemed faculty of the UFS School of Accountancy.

Prof Frans Prinsloo, Director of the School of Accountancy at UFS, expressed profound satisfaction at these remarkable results. He remarked, ‘’This achievement bears testament to the many hours of hard work invested over many years by the UFS School of Accountancy team and its students, and it brings us great joy.’’

Among the shining stars of this accomplishment is Mia Pretorius, a SAICA Audit Trainee at Deloitte in Cape Town and a distinguished UFS alumnus. Pretorius clinched the sixth position nationwide in the exam, surpassing over 2000 graduates across the country. Reflecting on her achievement, Pretorius conveyed her overwhelming gratitude, acknowledging the challenging nature of the examination, particularly the time constraints. She attributed her success to the comprehensive preparation received at UFS, stating, ‘’We wrote some difficult examinations during my time at UFS, so I was well prepared and found the ITC to be a bit easier than some of the exams that were written at UFS.’’

Prof Prinsloo lauded Pretorius’s success as a testament to the effectiveness of the CA programme at UFS, stating,’ Our CA programme not only enables our graduates to pass the ITC examination but, in fact, empowers them also to excel.’’

The significance of this accomplishment extends beyond individual success stories. Prof Prinsloo emphasised that the SAICA ITC examination serves as a crucial benchmark for evaluating the quality of the Chartered Accountancy (CA) programme offered at UFS. He elaborated, ‘’These results signify that the CA programme offered by the UFS not only develops our students’ technical competence in the subject areas of Financial Accounting, Auditing, Taxation and Managerial Accounting and Finance to the appropriate level but also equips them with the essential professional skills.’’

With aspirations for their students to make meaningful contributions to their respective fields and communities, Prof Prinsloo expressed hope that these accomplished students uphold ethical standards and serve as inspiration for our future students.

The achievements of the UFS accounting graduates of 2023 in the SAICA ITC examination underscore the university’s commitment to academic excellence and the holistic development of its students.

News Archive

UFS finances are fundamentally sound

2007-12-01

The finances of the University of the Free State (UFS) remain fundamentally sound and a higher than expected surplus of about R26 million was achieved in the 2007 budget.

This announcement was made last week during the last meeting of the UFS Council by Prof. Frederick Fourie, Rector and Vice-Chancellor.

“Up to now, we could finance the considerable investments in the infrastructure from discretionary funds, in spite of the fact that Council granted us permission during 2005/06 to take up a loan of R50 million for this purpose,” said Prof. Fourie.

The higher than expected surplus of about R26 million will be used among other things for the financing of infrastructure in order to further postpone the taking up of a loan.

In support of the drive to reposition the UFS nationally as a university that is successfully integrating excellence and diversity, R5 million will be made available from the surplus for this purpose.

The Council also approved the following allocations for 2008 for the key strategic pillars of a good practice budget for the university:

Information sources: R21,1 million
IT infrastructure: R3,5 million
Replacing expensive equipment: R7,05 million
Research: R18,1 million
Capital expenditure: R28,2 million
Maintenance capital assets: R18,2 million
Reserves: R6,3 million
Personal computers for the computer laboratory: R3,5 million

For the Qwaqwa Campus R2,5 million has been set aside for these issues.

In terms of strategic priorities R8 million was allocated for the academic clusters, R2 million for equitability, diversity and redress and R6 million for equity.

The projected income for 2008 will be R849 million, while the projected expenditure, excluding transfers, will be R694 million.

“Council further approved that discretionary strategic funds be largely voted to the further upgrading of the physical infrastructure, especially the Chemistry Building, the computer laboratory building, examination venues and the Joolkol,” said Prof. Fourie.

According to Prof. Fourie, funds have been reserved for the development of the academic clusters, as well as the continuation and acceleration of the transformation programme of the UFS.

“We have also managed to revise the conditions of employment of contract appointments and align it with the latest labour practices. The phasing in of the fringe benefits of this specific group of staff members will commence in 2008,” said Prof. Fourie.

Given the dependence of the income of the UFS on student numbers, a task team was formed last year to investigate the continued financial sustainability of the UFS. The core of this task team’s recommendations is:

to increase the third income stream by using the academic clusters as the main strategy; and to apply strategies such as the recruitment and extension of the postgraduate and foreign student corps, increase the income from donations and fundraising, etc.

Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za
30 November 2007

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