UKZN Accounting Graduates Excel in SAICA Board Exams

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Students in the School of Accounting, Economics and Finance continue to excel in the SA Institute of Chartered Accountants (SAICA) Board Examinations.

The UKZN pass rate in the 2019 Initial Test of Competence (ITC) examination improved from last year’s 91.7% to 93.8% this year.

ITC is the first part of two rigorous external examinations accounting graduates need to pass in order to qualify as chartered accountants.

The School’s Dean and Head, Professor Mabutho Sibanda, said he was pleased that interventions adopted by the School to improve throughput rates for the Certificate in the Theory of Accounting (CTA) were bearing fruit and thanked the Accounting lecturers for their determination in preparing the students for the exams.

‘We are seeing the benefits of the academic and socio-economic interventions that we put in place, and I hope this sterling performance will be sustained going forward,’ said Sibanda.

Nationally, a total of 2 762 candidates passed ITC this year.

Passing the ITC is not the final requirement for qualifying as a Chartered Accountant (SA). Candidates can only qualify as CAs (SA) and become members of SAICA once they have successfully passed the ITC; completed the training contract requirements; completed a professional programme; and successfully passed the Assessment of Professional Competence (APC).

Sibanda says the School is working hard not only get more students to write the ITC exam but for them to maintain the established standard of excellence.

‘This outstanding performance by UKZN students is a true testament of the collective effort of staff in the School. We are however, working on strategies to increase the number of graduates at CTA level,’ he said.

Words: Thandiwe Jumo