The University of Limpopo (UL) expects to be accredited to offer a postgraduate diploma in accountancy, which will be known as a certificate in the theory of accountancy (CTA) by the South African Institute of Chartered Accountants (Saica) with effect from next year. The expected CTA accreditation follows the university’s application in February, comprising a detailed self-evaluation report coupled with teaching and learning materials (delivery plans, notes, slides and question banks) and moderated formative and summative assessments for 2017. The CTA application was followed by a full monitoring visit on April 5 and 6 this year, and UL was adjudged favourable to all the necessary Saica accreditation standard requirements.
Only candidates who successfully complete the CTA from an accredited institution may enter and write the Saica Initial Test of Competence, which is known as the 1st Board Examination. Candidates are expected to successfully complete the Board Examination in order to register as chartered accountants (CA).
Saica does not consider a CTA accreditation application from an institution without it having an undergraduate accreditation. UL received undergraduate accreditation in 2011 to offer the BAcc degree independently from all their previous collaborative partners from January 2011. The university improved its undergraduate accreditation rating from “2” (needs improvement) to “1” (fully compliant) in 2014. As part of the journey towards the expected CTA accreditation, the university also achieved Saica accreditation for the Bridging Certificate in the Theory of Accountancy in 2015.
The benefits of Saica accreditation to the university include:
It contributes towards national transformation initiatives to increase the number of black CAs in South Africa, while contributing to economic growth and the National Development Plan (blacks represent only 10% of the current registered CA population in the country);
It provides the rural people of Limpopo Province with access to quality education and an opportunity to qualify as CAs; and;
It creates a sound financial skills development model for the Limpopo Province, increases the quality and standard of the accountancy degree programmes and employability of its graduates.
Applicants for the certificate in the theory of accountancy are required to meet the following minimum admission requirements:
An average mark of 55% for the following courses (or equivalent subjects): Accounting III, Auditing III, Management Accounting & Finance III and Taxation III, all in the preceding year or the year prior to the preceding year.
If demand exceeds capacity, applicants meeting the minimum admission criteria will be ranked.
Saber Tayob is head of department (financial accounting) at the University of Limpopo and the programme co-ordinator. Contact him at [email protected] or 015 268 3430 for more information