The Rhodes University Department of Accounting is one of 15 programmes in South Africa that have been accredited by the South African Institute of Chartered Accountants to prepare students for their entry to the qualifying examinations for admission as chartered accountants.

 

 

In 2001 the European Commission adopted the International Financial Reporting Standards (IFRS) as the basis of financial reporting for all listed companies. Through the IFRS, numerous disparate national systems have since been discarded in preference for two global-scale systems of financial reporting – IFRS and Generally Accepted Accounting Principles (GAAP) – allowing investors to make investment decisions on a global scale based on internationally comparable financial reports.

 

Placing themselves at the forefront of the movement for the adoption of the IFRS, South African trained chartered accountants are well-versed in the IFRS and are highly regarded world-wide, with approximately 25 percent of them currently employed in the United Kingdom, Canada, Australia and the United States.

 

Any discussion document, exposure draft, or IRFS approved for use in South Africa carries the official seal of the International Accounting Standards Board in the English language, which is also the medium of instruction at Rhodes University.

 

 

Rhodes University students have consistently achieved outstanding success in the national SAICA qualifying examinations. 

 

100% of the Rhodes graduates from 2013 passed the Initial Test of Competence examinations in 2014.

 

To write the Initial test of Competence (the first qualifying examination), four years of study is required in an accredited programme such as the Rhodes University’s Bachelor of Commerce (Accounting).

 

These accredited courses also grant exemption for most of the intermediate-level modules of the Chartered Institute of Management Accountants (CIMA).

 

 

In addition to the Postgraduate Diploma in Accountancy (the equivalent of the Certificate in the Theory of Accountancy), the Rhodes Department of Accounting also offers a Postgraduate Diploma in Taxation. This program has become a popular choice among students who do not wish to qualify as chartered accountants.

 

The department also offers a Masters degree in Taxation. This degree is done by coursework and thesis on a part-time basis and is increasingly being recognised by the profession.

 

The department contributes to research in the field of accountancy through regular conference presentations, contributions to textbooks and publications in journals.

 

 

Situated on a picturesque campus in a small university-oriented town, Rhodes University offers many advantages to foreign students wishing to further their studies. A well-structured traditional residence system accommodates students in a nurturing campus environment. The Rhodes Campus is small enough to allow students to easily reach all academic and social venues on foot, thus relieving the expense of running a car. For those who live in private student accommodation, many of the Grahamstown residential areas are also within walking distance of the University campus.

 

A staff to student ratio of one lecturer to 15 students places students in unusually close contact with their lecturers. Arising out of a learning environment that fosters such fellowship between lecturers and students, Rhodes University has the highest undergraduate pass rate of any university in South Africa. Per capita, it also has the highest research output in the country and produces more Rhodes Scholars than any other South African institution.

 

Rhodes University has thus earned a world-wide reputation for the high quality of its education and all Rhodes degrees are internationally recognised.

 

 

Foreign students with degrees might qualify for exemption from writing certain subjects depending on the credits they obtained at the undergraduate level. However, at least two years of study at Rhodes University would ordinarily be required in order to write the national qualifying exam for Chartered Accountants.