Third-year chartered accounting and postgraduate diploma students from the North-West University’s (NWU’s) School of Accounting Sciences recently had a once-in-a-lifetime practical experience in auditing.

The school, led by senior lecturer Odette Geyer, together with PKF Octagon and the Independent Regulatory Board for Auditors (IRBA), hosted an event themed “A day in the life of an auditor” to give the students an idea of what they can anticipate in the near future.

Imre Nagy, chief executive officer of the IRBA and NWU alumnus, and Nadine Kater, IRBA director for education and transformation, welcomed the students to the session.

Imre then discussed the significance and relevance of auditing, emphasising that registered auditors continue to play a crucial role in South Africa and that students should persevere and complete their degrees.

PKF Octagon led the second portion of the day and provided students with stationery, tax guides, and tasty snacks. To make this a realistic experience, PKF Octagon and the auditing team at the NWU devised a real-world audit scenario for the students to complete within a specified time frame.

Odette says the two student groups were divided into audit groups, where the student with the most experience and the highest auditing grade in the postgraduate diploma programme was appointed audit manager and team leader.

“The audit groups went above and beyond in choosing a group name and matching their attire to their group's color. To make the day as practical as possible, the hosts decided to create the impression that the students were working with team members they had never met. This is the same concept they will encounter when they finally enter the workforce,” she adds.

PKF Octagon designed working papers that the groups had to complete on laptops, exposing them to the current computer programs used in the auditing industry. Their submissions were then evaluated by the PKF Octagon team and a winner was declared.

The winning group received summer internships at PKF Octagon later in 2023, where they will have the opportunity to gain practical experience in auditing prior to entering practice.

The student group “kicking ass-ets” walked away with the spoils.

Ms Anneke Moolman, Prof Olive Stumke, Ms Monique Westrate, Prof Heleen Janse van Vuuren, Mr Imre Nagy, Ms Nadine Kater, Ms Odette Geyer, Miss Trisha Sukhari, Ms Phathiswa Moyo