The results of the April 2021 Initial Test of Competence (ITC) of the South African Institute of Chartered Accountants (SAICA) released on Friday 2 July 2021, once again reaffirms the University of Johannesburg (UJ) as a leader in Accounting Education in South Africa. The ITC is the first of two professional examinations which candidate Chartered Accountants (CAs) are required to pass in order to register with SAICA as CAs, and the result tables compare the performance of all universities offering SAICA accredited degrees.
“We are extremely proud of the fact that UJ has achieved an 85% first time pass rate with 196 students of the 2020 CTA cohort passing the exam” says Prof Ben Marx, Head of the Department of Accountancy at UJ. “We are even more proud when compared to SAICA’s overall national pass rate of 64,5%. Despite the challenges of Covid-19, UJ was able to seamlessly move to an online model in 2020, still managing to complete the academic year without any delays in 2020. This also testimony to the passion, agility, dedication and commitment shown by both staff and students during a very challenging year.”
UJ also continues to contribute towards the overall growth of the Accounting profession with a total number of 216 candidates passing the strenuous SAICA ITC exams in 2021.
The Department prides itself as being at the forefront of the transformation of accounting education in South Africa and the recent SAICA results also reaffirms this. Our key focus areas align with the national imperatives of addressing skills shortages and nation building and UJ is therefore proud of the fact that 128 African students passed the exam, which as in previous years, is also once again the largest number of all residential universities. The 80% UJ pass-rate of 1st time African candidates in comparison with the national African pass-rate of 56%, shows the value and success of interventions and support as we contribute towards the growth of the accounting profession.
Another highlight of the results is that Ms Alexa Sikiotis was placed on the Top 10 list and also having achieved her results with Honours, which attests to the high quality and acumen of the UJ CTA programme. This list represents the top 10 achievers in the exam. To be eligible to appear on this list, candidates must achieve a minimum of 70% in the ITC.
In an ever-changing, dynamic environment, UJ is always looking for innovative ways to teach and learn. Accountancy@UJ is proud to announce the launch of a new subject called “4IR Accounting” in 2021. This compulsory subject is offered to all 3rd year B Acc (CA-stream) and B Com Acc students as part of their syllabus and assists in our mission of educating critical thinking accountants for the 4th Industrial Revolution.
“Our programmes are distinctly focused on preparing graduates to be ethical, critical thinkers and innovative enablers in the 4th Industrial Revolution. We live in a constantly transforming and evolving world, where adapting to changes are essential. For a young accounting professional to be a beneficiary of the 4th industrial revolution and not a victim, a student needs to fully understand the effects of AI, big data and blockchain technology on the profession. Given this background, UJ has also implemented a project for CTA students where they are required to write a report that explores the effects of emerging technologies on the accounting profession and how the future of the profession will change. We believe that it is critical for the current and future skills of accountants,” adds Prof Marx.