Rhodes University’s Department of Accounting has achieved an impressive 94% pass rate in this year’s Initial Test of Competence (ITC) set by the South African Institute of Chartered Accountants (SAICA).
The ITC is the first of two professional qualifying examinations university graduates must pass to become Chartered Accountants (CA). The ITC sits twice annually to test the integrated application of technical competence that candidates develop during the academic programme. This consists of a three-year undergraduate programme and a one-year postgraduate programme. The ITC assesses candidates’ ability to evaluate the underlying problems in scenarios and, through critical thinking, applies the theoretical knowledge they have gained through the academic programme. To pass the ITC, candidates must obtain an overall pass mark of 50% and must get a sub-minimum of at least 40% in three of the four professional papers.
Rhodes University’s Accounting Department Head, Professor Kevin Maree, said they were delighted with the performance of the Postgraduate Diploma in Accountancy (PDipAcc) class of 2020. “The pass rate achieved by the 2020 cohort compares favourably to a national first attempt pass rate of 70%. Furthermore, Rhodes University achieved a 93% pass rate among its African candidates who were attempting this exam for the first time. The national pass rate for African candidates attempting the exam for the first time was 56%. This reaffirms the Department and the University’s commitment to transformation. The pass rate achieved by our students is phenomenal in the context of the COVID-19 pandemic and emergency remote online teaching and learning. This bears testament to our student’s commitment to their studies, resilience, and agility,” he explained.
Dean of the Faculty of Commerce, Professor Dave Sewry, echoed Professor Maree’s comments and heaped much praise on both students and staff. “Everyone has demonstrated tremendous resilience in this difficult time. I am enormously proud of the results. My congratulations to students and staff. They all deserve rich accolades,” concluded Professor Sewry.