Accounting matters. A lot. Say ‘accounting’ and most of us immediately think of bean counters and book balancers. But, especially in a developing country like South Africa, accounting sciences play a crucial role in fostering economic growth and stability, and accountants play a critical role in ensuring transparent financial management that helps to attract foreign investment and enhance local businesses. They fight corruption, their expertise enables effective resource allocation and they are the custodians of fiscal responsibility.
Well-rounded, competent accountants with a desire to ensure that accountability is always at the forefront will lead to a prosperous South Africa.
It is the mission of the North-West University (NWU) to balance this equation, and the institution’s successes speak for themselves.
The NWU achieved outstanding results in the recent South African Institute of Chartered Accountants (SAICA) and the Institute of Chartered Accountants of Namibia (ICAN) Initial Test of Competence (ITC) examinations.
Impressively, 97% of the NWU's candidates passed the exam, making the institution one of the top performers among the 18 participating institutions in the country. The national average pass rate was 67%. In addition, the NWU's ICAN candidates achieved a 100% pass rate.
The excellence of the NWU's students was further highlighted by their representation in the SAICA top 10, with two candidates achieving this prestigious recognition. Notably, these two candidates passed with distinction, demonstrating their exceptional abilities. Overall, the NWU produced five candidates who passed with distinction – a remarkable achievement given the rigorous standards of the exam. Nationally, more than 2 500 candidates wrote the exam, of whom only 24 passed with distinction. The NWU's success also extends to ICAN, where three of its candidates were in the top five, all achieving distinctions.
Management accountancy students at the NWU have also demonstrated consistent excellence in the last three years’ Chartered Institute of Management Accountants (CIMA) Management Case Study appraisals. In 2023, they achieved a pass rate of 83% (the global average was 65%), 87% in 2022 (global average 71%) and 85% in 2021 (global average 73%).
“These results reflect not only the dedication and hard work of our students, but also the quality of education and support they receive at NWU. This comparative success underscores NWU's role as a leader in cultivating top-tier management accountancy professionals. We are committed to maintaining and improving this standard of excellence and to continuing to prepare our students to excel in their careers and make significant contributions to the field,” said Prof. Jaco Fouché, Programme Leader of Management Accountancy at the NWU.
Prof Janse van Vuuren also attributes the NWU’s outstanding results to the institution's commitment to academic excellence and the dedication of its lecturers, adding: “The importance of accountancy in driving economic growth and addressing South Africa’s financial challenges cannot be overstated. At the NWU, our mission is to contribute to a better future for all South Africans through our focus on producing highly skilled professionals who can make meaningful contributions to the economy. Investing in accounting education is essential to developing a skilled workforce that can drive sustainable economic progress.”
Those are numbers that matter. A lot.
