(A)Counting towards 2030
More black accountants are needed if South Africa is to meet the goals of the National Development Plan (NDP) by 2030. This is a need the NWU is addressing with fervour.
The NDP is, pure and simple, a numbers game. A vastly intricate, immensely important one, but a numbers game none the less. Therefore, the role that qualified accounts play, and will play in stepping towards 2030 cannot be underestimated. Even more so for a black accountants.
The South African Institute for Chartered Accountants have been unequivocal and vocal in their pleas for more qualified accountants. Based on the latest available SAICA research, as many as 20 000 are needed. Compounding this dilemma is the fact that more than 20% of locally qualified accountants either live or work abroad. It is a scarce but indispensible skill when catering to an economically struggling country.
After the 2015 Initial Test of Competence (ITC), students of the NWU that attempted this exam for the first time received a 94% pass rate in comparison with the national average of 82%. This is the second best pass rate in the country. The NWU also delivered the highest number of black chartered accountants in its history. A total of 89% of the NWU’s candidates that were Thuthuka bursary holders passed the exam, with the national average being 81%.
“In a time when people are under severe financial strains it is imperative that prospective chartered accountants study at an institution where they receive education of the highest quality and get value for money,” explains Professor Jan van Romburgh, Director of the School of Accounting Sciences at the North-West University’s Potchefstroom Campus.
“Therefore I am very happy about this exceptional achievement. It shows that we have a dedicated team of lecturers who pride themselves on delivering students who not only have an excellent chance of passing the SAICA qualifying examinations, but also are well rounded, an asset to employers and ultimately able to make worthy contributions to the goals of the NDP.”