The School of Accounting, Economics and Finance continues to excel in the South African Institute of Chartered Accountants (SAICA) Initial Test of Competence (ITC) examination as they have scored an outstanding 87% pass rate surpassing the national pass rate of 76% and putting them in a tie for fifth place out of 14 Universities. The ITC is one of the prerequisites for registration as a prospective Chartered Accountant (CA (SA) after successful completion of the BCom Accounting degree and a Postgraduate Diploma in Accounting (PGDA) or an Honours Degree in Accounting from a tertiary institution accredited by SAICA.
The test which was taken in January is the first part of two rigorous external examinations that accounting graduates have to pass in order to qualify as chartered accountants. UKZN’s performance in the ITC exam remain on an upward trajectory as the final year pass rate increased from 36% in 2012 to 39% in 2013 and to 59% in 2014.
The Schools Coordinator of SAICA Accounting Programmes, Professor Phil Stegen said they are pleased with the results. He attributed the achievement to dedicated staff and students and the success of various interventions which have been adopted to improve the throughputs by ensuring that students are adequately prepared for the board exams.