NWUs young accountants boast an impressive 94% pass-rate
When it comes to training tomorrow’s chartered accountants, the North-West University (NWU) upholds a proud tradition of excellence and the Class of 2014 is no exception. The results of the national Initial Test of Competence (ITC) were announced on Friday, 27 March 2015 and the university boasts a pass rate of 94%, which puts the NWU second on the South African rankings.
Accounting students from 14 South African universities annually take part in this examination as accredited members of the South African Institute of Chartered Accountants (SAICA).
|Toasting on a year of impact||Prof Heleen Janse van Vuuren with some of the CTA students||Prof Heleen Janse van Vuuren addressing the guests|
According to Prof Heleen Janse van Vuuren, Director of the School of Accounting Sciences on the Vaal Triangle Campus of the North-West University (NWU Vaal), the University’s track record with regards to SAICA examinations is “exceptional” with regular distinctions and students featuring in the Top Ten rankings in South Africa.
In celebration of the good results, and as a symbolic gesture of support the School of Accounting Sciences in collaboration with KPMG – one of the largest professional services companies in the world and one of the so-called Big Four auditors, hosted a cocktail function for the Campus’s CTA (Certificate Theory of Accounting) Class of 2015. These students will write the ITC exam in January 2016.
In his address Mr Riechert Stoltz, partner at KPMG Secunda, encouraged the students to stay focused and to believe that they can pass the very challenging CTA exam as well as the ITC exam in 2016. He shared with them the well-known words of Henry Ford: “Whether you think you can, or you think you can't--you're right.”
“The cocktail is a way for us to thank our students for their hard work and I think it very appropriate since they just finished their first – of many to come, tough exams for the year,” explains Jansen van Vuuren. She also thanked KPMG for their continued support in hosting this annual event.
The road to becoming a Chartered Accountant (CA)
The final two steps on any CA students’ pathway to becoming a CA (SA) involve passing two qualifying examinations, namely the Initial Test of Competence (ITC) and the Assessment of Professional Competence (APC). Both of these exams are set and administered by SAICA.
To qualify for entry to the ITC, you must have passed the CTA or equivalent CA (SA) exam. This generally means that candidates enter for the ITC during their first year of their training contracts if they studied full time or the fourth year if they have been studying part time.
A CTA is valid for three years. This means candidates will be eligible to sit for the ITC exam for a period of three consecutive years, starting the year after obtaining a CTA or equivalent qualification. There are two examination opportunities per year for the ITC, namely in January and June of each year. This means candidates have a maximum of six attempts at the ITC.
To qualify for entry to the APC, a candidate must have passed the ITC; and completed a minimum of 20 months of a registered training contract with an accredited training office, by the beginning of the month in which the assessment is written; and successfully completed a professional programme with a registered provider.
The professional programme remains valid for a period of three consecutive years, which means that the APC must be passed within those three years; otherwise you will have to complete a professional programme again.
Prof Heleen Janse van Vuuren congratulates
the students on their achievements
|Representatives from the School of Accounting Sciences and KPMG||Riechert Stolz from KPMG motivated the students to stay focused and dedicated|