inside…
What do accountants do?
1
What are the job options?
1
Where do accountants work?
2
What skills do accountants need?
3
What is a professional accountant?
3
Who are the professional bodies in South Africa?
4
Summary of accounting qualifications in South Africa
5
The South African Institute of Chartered Accountants (SAICA)
8
The South African Institute of Professional Accountants (SAIPA) 13
Developed by Sonja Barnard and Leza Deyzel, Unisa Bureau for Counselling, Career
and Academic Development. September 2008
The Chartered Institute of Management Accountants (CIMA)
14
The Association of Chartered Certified Accountants (ACCA)
15
The Institute of Internal Auditors (IIA)
16
The Institute of Certified Bookkeepers (ICB)
17
How do I know which field is for me?
18
Do a skills audit
20
How do you ensure that you pass and do well in your
Accounting modules?
22
Summary of accounting qualifications @ unisa
23
Contact details: Unisa
26
What do accountants do?
Accountants engage in a wide variety of activities. In addition to recording business
transactions and preparing financial statements, these activities include the computation
of costs and efficiency gains from new technologies, participating in strategies for
mergers and acquisitions, quality management, developing and using information
systems to track financial performance and devising tax strategies.
The field of accounting has seen constant technological and intellectual innovation in
recent decades. For example, in South Africa reporting standards have been aligned
with international reporting standards over the past few years.
A career in accounting will afford you the opportunity to learn how business works and
offers excellent career opportunities in many different contexts. The field is normally
divided into four broad areas: auditing, financial accounting, taxation and management
accounting and managerial finance.
What are the job options?
Auditing
Audit work involves checking accounting records and financial statements within
corporations and government. This work is becoming increasingly computerised and
can rely on sophisticated random sampling methods. It is important to distinguish
between external auditors and internal auditors.
External auditing
External auditors are independent from the organisation. They carry out a statutory
(meaning that it is required by law) audit to establish whether the financial statements
present a true and fair view of the financial position of the organisation.
Internal auditing
The internal auditors, also operating independently, are often employees of the
organisation. In addition to financial audits, they also carry out systems audits,
compliance audits, performance audits and assist with risk assessments, to mention
Psychology @ Unisa page 1
but a few of their functions.
Academia
Financial accounting
Many qualified accountants also choose careers in academia, working as teachers,
lecturers or professors at universities, universities of technology, Further Education
and Training (FET) colleges and schools.
Financial accountants prepare financial statements based on recorded transactions and
participate in important financial decisions. This work requires a good understanding
of both accounting and finance.
Management accounting/Managerial finance
Management Accountants participate in financing decisions, capital budgeting and
business analysis. Major functions include cost analysis, analysis of new contracts and
participation in efforts to control expenses efficiently. This work often involves an
analysis of the structure of organisations.
Taxation
Tax accountants prepare corporate and personal income tax statements and formulate
tax strategies involving issues such as financial choice, how to best treat a merger or
acquisition, deferral of taxes, when to expense items and the like. They also often assist
with estate planning. This work requires a thorough understanding of economics and
tax legislation.
Where do accountants work?
Public accounting firms
Public Accountants provide accounting, auditing and advisory services to individuals,
businesses and governments. The largest, high-profile public accounting firms are
known internationally as the Big Four. They are Deloitte, Ernst & Young, KPMG and
PricewaterhouseCoopers.
Government
Government accountants may work at the local, provincial or national level. This work
can have high a impact on the public good.
Corporations
Corporations typically have an accounting division which prepares financial statements,
tracks costs, handles tax issues and works on international transactions. Depending on
the size of the organisation, there may be separate divisions for financial reporting, cost
accounting and control, budgeting and planning, payroll administration and financing.
What skills do accountants need?
Depending on the specialisation chosen, typical skills requirements are:
Skills
page 2 Psychology @ Unisa
Taxation
Management
Accounting/
Finance
People skills
Medium
Medium
Medium
Communication
skills
High
High
High
Analytical skills
High
Very high
Very high
Computer skills
High
Very high
Very high
What is a professional accountant?
The process of qualifying as a professional accountant involves gaining work experience
with an approved firm and passing a series of tough examinations set by a professional
accountancy body.
Qualifying as a professional accountant involves several years’ training, comprising a
mixture of on-the-job experience and the passing of formal professional examinations.
Consequently, the accounting profession boasts members drawn from various
disciplines and a wide variety of backgrounds.
The International Federation of Accountants (IFAC) describes a professional accountant
as someone that meets the standards of a professional. These are defined as:
•
•
•
Self-employment
This form of work requires you to generate your own business, but has the benefits
of offering close customer contact, a high degree of independence and (depending on
how good you are!) high financial rewards.
Auditing &
Financial
Accounting
•
having skills, knowledge and expertise tested by examination and
continuously developed in a structured and monitored context,
being committed to the values of accuracy, honesty, integrity, objectivity,
transparency and reliability,
belonging to a recognised accountancy body upholding professional
standards and approaches in the discipline of recording, analysing, measuring,
reporting, forecasting and giving advice in support of financial, management
and strategic decisions and adding value for stakeholders and therefore being
subject to the disciplinary powers of that body, and
maintaining expertise through a commitment to ongoing continuing
professional development.
Psychology @ Unisa page 3
South African professional bodies registered with IFAC are:
The South African Institute of Chartered Accountants (SAICA)
The South African Institute of Professional Accountants (SAIPA), formerly the
Institute of Commercial and Financial Accountants of Southern Africa (CFA)
Foreign (British) professional bodies registered with IFAC and operating in South
Africa are:
The Chartered Institute of Management Accountants (CIMA)
The Association of Chartered Certified Accountants (ACCA)
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RAA
No
Yes
Registered
Accountant and
Auditor
Chartered
Secretary
(Associate)
No
Associate
Accounting
Technician
AAC
ACIS
No
Associate
General
Accountant
AGA
Yes
Yes
Yes
Yes
Yes
Company
secretary
Auditing
Bookkeeping up
to trial balance
General
accounting
Financial
management
and consultancy
If registered
also with
IRBA
Usual area of
specialisation
Authorised to perform
Auditor’s
Accounting
Report (Pty
officer (Close
Ltd)
corporations)
Chartered
Accountant
Full
designation
CA
Qualification
(courtesy of findanaccountant.co.za)
ICSA
IRBA
(previously
PAAB)
SAICA
Ruling
body
Independent
Regulatory
Board for
Auditors
The Southern
African Institute
of Chartered
Secretaries and
Administrators
The South
African Institute
of Chartered
Accountants
(SAICA)
Full name of
ruling body
Summary of accounting qualifications in South Africa
Who are the professional bodies in
South Africa?
Psychology @ Unisa page 5
page 6 Psychology @ Unisa
Psychology @ Unisa page 7
No
Chartered
Management
Accountant
(Associate)
Chartered
Management
Accountant
(Fellow)
Professional
Accountant
(SA)
Accounting
Technician
CAT
CIMA
(Associate)
CIMA
(Fellow)
Professional
Accountant
(SA)
(formerly
CPA)
Accounting
Technician
(formerly
CFA)
CCIB
ACIB
FICB
Registered
Tax
Practitioner
AIAC
MIAC
FIAC
No
Certified
Accounting
Technician
FCCA
Depending
on other
qualifications
No
Fellow of
the Institute
of Certified
Bookkeepers
Associate of
the Institute
of Certified
Bookkeepers
Certificate of
the Institute
of Certified
Bookkeepers
No
No
No
No
No
Tax Practitioner
Fellow of the
Institute of
Administration
and Commerce
Full member of
the Institute of
Administration
and Commerce
Associate
member of
Institute of
Administration
and Commerce
No
Fellow
Chartered
Certified
Accountant
ACCA
UK and
Europe – Yes
SA - No
Associated
Chartered
Certified
Accountant
No
No
Depending
on other
qualifications
No
Yes
Yes
No
Yes
Yes
Yes
No
Yes
Yes
Authorised to perform
Auditor’s
Accounting
Report (Pty
officer (Close
Ltd)
corporations)
FCIS
Full
designation
Chartered
Secretary
(fellow)
Qualification
Bookkeeping up
to trial balance
Tax planning,
returns and
advice
All round
All round with
specialisation
subcategories
All round with
specialisation
subcategories
Management
and Cost
Accounting
Bookkeeping up
to trial balance
All round with
specialised
subcategories
and diploma
programmes
Company
secretary
Usual area of
specialisation
ICB
SARS
IAC
SAIPA
SAIPA
CIMA
ACCA
ICSA
Ruling
body
Institute of
Certified
Bookkeepers
South African
Revenue
Services
Institute of
Administration
and Commerce
South African
Institute of
Professional
Accountants
South African
Institute of
Professional
Accountants
Chartered
Institute of
Management
Accountants
The Association
of Chartered
Certified
Accountants
The Southern
African Institute
of Chartered
Secretaries and
Administrators
Full name of
ruling body
The South African Institute of
Chartered Accountants (SAICA)
(IRBA stands for the Independent Regulatory Board for Auditors, which was created
in April 2006 under the Auditing Profession Act.)
SAICA offers three levels of professional recognition, namely chartered accountant,
associate general accountant and associate accounting technician.
At present, prospective CAs(SA) have the option of qualifying through either the
Training Inside Public Practice (TIPP) or Training Outside Public Practice (TOPP)
routes. TIPP offers specialisation in auditing, where the aspirant CA(SA) trains at an
accredited accounting and auditing firm, while TOPP offers specialisation in financial
management, where the aspirant CA(SA) trains in commerce and industry, or the
public sector.
Chartered Accountant
Before qualifying as a chartered accountant, a person must:
1. complete a four-year education programme leading to the Certificate in the
Theory of Accounting (CTA) at a university accredited by SAICA, and
2. write two qualifying examinations, and
3. complete a training contract with a registered or approved training office.
Registration as chartered accountants with SAICA entitles a member to use the
designation CA(SA).
Apart from practising for their own account, career opportunities for chartered
accountants include external auditing, internal auditing, financial accounting,
management accounting, taxation services, acting as executors of estates, and many
more. Many senior and very high profile positions in the public and corporate sectors
are held by chartered accountants.
1. Education programme
At Unisa, students register for and complete the degree of Bachelor of Accounting
Science (BCompt). Upon completion of the BCompt, students register for the degree
of Honours in Accounting Science (Honours BCompt). The curriculum and syllabus of
the Hons BCompt comply with the CTA requirements of SAICA. After completing the
Hons BCompt and meeting the specific CTA requirements, students must register for
the first qualifying examination of SAICA (QE1).
2. Qualifying examinations
The first qualifying examination (QE1) consists of two examination papers, written on
two consecutive days, in March each year.
The second qualifying examination is written in November each year. For admission
to the second qualifying examination, a candidate must
have passed QE1, and
have completed at least 18 months of his/her training contract.
Depending on the type of training contract entered into, the second qualifying
examination will be either:
SAICAs second qualifying examination (QE2), or IRBAs Professional Practice
Examination (PPE).
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3. Training programme
After extensive consultation with representatives from professional bodies, employers
and practitioners, SAICA developed a new training model with the aim of arming
Chartered Accountants [CAs(SA)] with broad-based business skills. The current
competencies prescribed for the TIPP and TOPP programmes will incorporated into
one set of comprehensive competencies. The emphasis on auditing will be balanced
with other required competencies required by the market and the distinction between
TIPP and TOPP will fall away.
The new training programme will require the future CA(SA) to accord added emphasis
to business skills and competencies such as corporate governance and ethics; business
acumen; interpersonal and communication skills; leadership skills and organisational and
management skills. The programme’s undergraduate and postgraduate requirements
will remain unchanged, but a revised specialist programme may be introduced. This
new model will be effective from 1 January 2010.
For more information in the proposed new training model, please visit http://www.
saica.co.za/trainingmodel or e-mail Adri Kleynhans on adrik@saica.co.za.
Small, medium or large firm?
Small firms are often community-based. Their clients are generally entrepreneurs and
might include local retailers and manufacturers, small to medium sized companies
and close corporations as well as private individuals. In many cases these clients are
too small to employ a finance director, so this role will be played by the firm. Trainees
working with these clients will gain first-hand experience of the client’s whole business
and will be able to make a key contribution. Firms in this category tend to offer their
clients a personal approach and the partners in the firms have a broad knowledge
of accountancy and business issues. They can provide a wide range of services, from
bookkeeping and accounting to tax planning, auditing and management consultancy.
Many small firms have regional as well as international associations and there are
therefore some opportunities for overseas exposure.
Medium-sized firms have a national network of offices in many cases and are often
part of an international association. Their clients’ lists are diverse and range from
independent businesses to household name companies covering all products and service
sectors. Client contact is something for which every young professional should strive
and, as with small firms, this comes sooner rather than later in medium-sized firms.
Being thrown in at the deep end you may ask? It may feel that way, but professionally
Psychology @ Unisa page 9
it enables a more rapid route to career development and progression. Work becomes
more enjoyable as you are continually being exposed to new interesting tasks because
of the diverse client base. Training is personal and hands on. Rather than being lost
in a “lecture”, you are a participant in a small “tutorial”. In small and medium firms it
is often possible to be entrepreneurial and to make commercial decisions regarding
projects and to become personally involved in a way which may not be possible in
large partnerships.
Large firms that include the “Big 4” (Ernst & Young; Deloitte; KPMG and
PricewaterhouseCoopers) are in a position to take on a large number of graduate
trainees each year. A career with a large firm gives you a grounding in how businesses
operate and exposure to some of the world’s most prestigious companies, across a
range of industries. The working environment is also quite distinct. It is very teamorientated and often specialised. As with small and medium-sized firms, staff are
expected to relish a high degree of autonomy at an early stage in managing their own
deadlines, clients and workloads. Training with a large firm probably offers the best
opportunity to work or travel overseas and be exposed to global best practices.
Typically, advantages of training with a large firm under the TIPP programme include:
•
•
•
•
•
•
excellent technical grounding
a proven training system which is core to a firm in public practice
training in an environment where colleagues are undergoing similar training
the ability to build valuable business contacts and networks
training in a professional working environment where mentoring is provided
by senior chartered accountants who understand the same technical jargon
and systems with which trainees are familiar
training in an internationally accepted environment which is conducive to the
facilitation of international secondments and transfers.
Training within medium-sized and smaller firms has other advantages:
•
•
•
•
•
•
Generally the firms have from one to eight partners and up to 32 trainees,
and as a result trainees receive personal attention from partners
These firms tend to offer their clients a very personal approach and the
partners have a broad knowledge of accountancy and business issues
Trainees are often key members of the organisation, resulting in their being
given greater responsibility and authority in a relatively short period of time
Exposure to clients, at a senior level, comes at an early stage, enabling
trainees to view the client's overall business more strategically
There is the development of an entrepreneurial spirit
Working in a smaller firm often results in greater exposure, increased
learning, improved use of initiative and a general improvement in a number
of skills owing to the multi-skilled nature of such firms.
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When should I apply for a training contract?
SAICA recommends that a student should apply for a trainee contract five years before
the student wishes to start serving the training contract. This is especially important
for those students wishing to complete a training contract at one of the “Big 4” firms.
Medium-sized firms usually recruit two-three years ahead of time.
Which companies/ organisations offer TIPP training contracts?
SAICA has a list of Approved Training Organisations (ATOs) on their website at http://
www.saica.co.za/ Trainee positions are also advertised on http://cajunctiontrainees.
careerjunction.co.za/.
Training Outside Public Practice
Training in business requires trainees to gain experience in financial management,
financial accounting, taxation, information technology, internal auditing and cost
and management accounting. Advantages of training under the TOPP programme
include:
•
•
•
hands-on business experience
dedicated training in financial management and all its functions
broad exposure to a variety of business operations and management
functions
Some of the reasons why the TOPP programme was developed and implemented
include: the traditional training route (TIPP) could no longer produce accountants in
the numbers required to support the South African economy, there was an increased
emphasis on uplifting previously disadvantaged groups and on training, and the vast
majority of Chartered Accountants left public practice upon qualifying and took up
positions in commerce and industry. This often resulted in re-training as the traditional
training route focused on auditing rather than on financial management and business
principles.
Which companies/ organisations offer TOPP training contracts?
Companies that offer TOPP positions include ABSA, British American Tobacco, Investec,
Old Mutual, Shoprite Checkers, Woolworths, ABSA, Microsoft SA, MTN, South African
Revenue Service (SARS) and Transnet. Trainee positions are also advertised on http://
cajunctiontrainees.careerjunction.co.za/.
Training in business (TIPP) requires trainees to gain experience in financial management,
financial accounting, taxation, information technology, internal auditing and cost and
management accounting. Advantages of training under the TOPP programme include
hands on business experience, dedicated training in financial management and all its
functions and broad exposure to a variety of business operations and management
functions.
SAICA has a list of Registered Training Offices (RTOs) on their website at http://www.
saica.co.za/.
Psychology @ Unisa page 11
External auditing
Students, who have passed the PPE and have completed a TIPP training contract,
may register with IRBA as a registered auditor (RA) and carry out external audits. It is
important to note that IRBA may in future change the requirements for registration
as an RA.
Associate Accounting Technicians
Associate accounting technicians may be required to undertake the following duties:
record and account for cash transactions, record and account for credit transactions,
record transactions related to inventory, record payroll transactions, input information
from source documents into a computer system, locate and retrieve recorded details
of items from a computer system, generate and print standard reports on a computer
system, draft routine business communications, record capital transactions, prepare
financial accounts, prepare VAT returns, record cost information, produce spreadsheets
for the analysis of numerical information, draft basic financial statements, prepare basic
taxation computations and prepare information for cost analysis and control.
Training route
Candidates must complete a competency-based education and training programme
(CBET) or have completed two years of a degree or academic equivalent, and also
complete 24 months’ training in an approved training organisation (ATO) or registered
training office (RTO) under a registered training contract. Upon completion of the
above, candidates are required to register as an Associate Accounting Technician of
SAICA in order to use the AAT (SA) designation.
Associate General Accountants
The duties of associate general accountants could include: acting as accounting officers
for close corporations; preparing financial statements in accordance with generally
accepted accounting practice; designing and operating internal accounting systems;
providing management with information which will enable them to plan, monitoring
and controlling their business; assisting with tax compilation and planning.
Training route
The South African Institute of
Professional Accountants (SAIPA)
Note: SAIPA was previously known as the Institute of Commercial and
Financial Accountants of Southern Africa (CFA)
Membership of SAIPA is achieved by satisfying the Institute’s requirements in the
following three areas:
1. Academic
2. Practical
3. Professional evaluation
1. Academic
At Unisa, students register for and complete either the degree of Bachelor of
Accounting Science (BCompt), or one of the following BTech degrees:
BTech: Cost and Management Accounting
BTech: Internal Auditing
BTech: Taxation
2. Practical
The practical component consists of either:
Three years’ supervised training at an Approved Training Centre. The training
is monitored by way of an official training logbook which is kept up to date by
the trainee accountant and principal.
Continuous assessment of the practical training is done by Electronic Simulated
Assessments (ESA). The three years’ supervised practical training must be
registered as a Learnership with Fasset (the relevant Seta for accountants), or
Six years’ relevant, verifiable experience. Experience will be verified using the
official training logbook as a basis of reference.
3. Professional evaluation
Candidates must complete a three-year relevant degree or academic equivalent at an
accredited educational institution, plus enter into a three year training contract with
an approved training organisation (ATO) or registered training office (RTO) under a
registered training contract.
A Professional Evaluation (PE) must be satisfactorily completed before registration as
a Member of the Institute can be finalised. The PE currently consists of a three-hour
written evaluation and evaluates candidates’ ability to integrate academic knowledge
with practical skills required in the workplace.
After the completion of one year’s practical training, candidates are required to write
an entrance examination for the College of Associate General Accountants. Upon the
successful completion of the entrance examination and training period, candidates are
required to register as an Associate General Accountant of SAICA in order to use the
AGA (SA) designation.
Apart from practising for their own account as accounting officers of close corporations,
the professional accountant is often employed as a financial accountant.
For more information, please visit SAIPAs website at: http://www.saipa.co.za
For more information, please visit SAICAs web site at: http://www.saica.co.za
page 12 Psychology @ Unisa
Psychology @ Unisa page 13
The Chartered Institute of
Management Accountants (CIMA)
CIMA is an international accounting body consisting of over 155 000 members
and students in 158 countries. It is responsible for the education and training of
management accountants who work in industry, commerce, or in non-governmental
and public sector organisations. Its head office is based in the United Kingdom.
CIMA is focused entirely on business. 99% of CIMA members and students work in
business and not in accountancy practices. The syllabus is both practical and innovative.
The unique blend of academic training and practical experience continues to provide
employers with what they want - Chartered Management Accountants who have the
leading edge skills to drive business growth.
The Association of Chartered Certified
Accountants (ACCA)
About ACCA
The ACCA Professional Scheme is a highly relevant, targeted combination of study
and practical experience. The syllabus is a result of extensive research and consultation
with governments, students, colleges and employers from a range of public and private
sector organisations. ACCA strives to offer consistently high standards of training and
support.
Qualifications offered
ACCA offers several qualifications, such as:
The CIMA Certificate in Business Accounting is an entry requirement to the CIMA
Professional Qualification and a recognised qualification in its own right. It will give
the candidate a solid grounding in the basics of management accounting and business
skills.
Certificate in International Auditing
The CIMA Professional Qualification is highly regarded and is recognised by businesses
around the world.
Diploma in Corporate Governance
The syllabus is made up of three elements:
The Managerial level (six exams): Performance evaluation, Decision
Management, Organisational Management, Integrated Management, Financial
Accounting and Tax, and Financial Analysis
The Strategic level (three exams): Risk and Control Strategy, Business Strategy
and Financial Strategy
The Test of Professional Competence in Management Accounting (TOPCIMA)
- one exam based on a case study
All of the exams are three hours long and have a pass mark of 50%.
At Unisa, students who register for and complete either the degree of Bachelor of
Accounting Science (BCompt) or the BCom (Management Accounting) should qualify
for exemption from the Managerial level. Students who have completed the degree of
Honours in Commerce with specialisation in Management Accounting (Hons BCom
in Accounting with specialisation in Management Accounting will almost certainly be
exempted from the Managerial level. The syllabus of the Honours BCom (Management
Accounting) is aligned to the syllabus of the Strategic level and will greatly assist
students in their preparation for this professional examination.
For more information, please visit CIMAs website: http://www.cimaglobal.com.
Certificate in International Financial Reporting
Certified Accounting Technician scheme
Diploma in Financial Management
Diploma in International Financial Reporting and Auditing
Oxford Institute of International Finance - MBA
A number of entry routes are available which take into account different qualifications
and recognise previous achievements:
Professional Examination Route (PER)
For entry to ACCAs Professional Qualification, you must be at least 18 years old and
meet the following criteria:
Senior Certificate issued by the Matriculation Board (giving Matriculation
Endorsement [previously called matriculation exemption], completion of 6
subjects, 5 subjects passed at one sitting, obtaining a minimum aggregate
mark of 45%, 3 subjects on Higher grade, 2 passes in a language [one on
Higher grade], including English and Mathematics) or
Degree / National Diploma from a recognised institution
For those who are unable to register via the PER, there are two other methods of
entry:
Mature Student Entry Route (MSER)
For entry to ACCAs Professional Qualification via the MSER, you must be over 21
years old. You must also pass Papers M1 and M2 (equivalent to Papers 1.1 and 1.2)
within two years of the date of your first eligible ACCA examination session. You will
then be able to transfer to the main student register.
page 14 Psychology @ Unisa
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Certified Accounting Technician (CAT) Qualification
This is ACCAs vocational, open-entry introduction to accounting. Applicants who are
16 years or older can complete ACCAs CAT qualification and will be eligible for direct
entry to Part 2 of ACCAs professional examination.
Training requirements
To become a Chartered Certified Accountant, you must satisfy ACCAs practical training
requirements, in addition to passing the professional examinations. Specifically, you
will need to:
gain a minimum of three years’ supervised, relevant practical experience
satisfy the minimum competence requirements for membership
record your experience in your personal Student Training Record (STR)
Within these requirements, ACCA offers you the maximum possible flexibility, enabling
you to match your work experience to ACCAs training requirements in a variety of
ways.
Your previous qualifications may entitle you to exemptions from certain ACCA
examinations. This will ensure that your point of entry is the most suitable for your
level of knowledge and skills and will prevent your having to repeat areas with which
you are already familiar.
ACCAs exemption policy is subject to change, and assessments may be revised without
prior notice. Students are strongly advised to obtain written confirmation of their
exemption status from ACCA before embarking on any course of study.
For more information, please visit ACCAs website at http://www.accaglobal.com/.
The Institute of Internal Auditors (IIA)
The International Institute of Internal Auditors, Inc
(IIA,Inc)
The Institute of Internal Auditors, Inc, with its headquarters in Altamonte Springs,
Florida, USA, is the international professional body for the internal auditing profession
worldwide. It offers the internationally accepted professional Certified Internal Auditor
(CIA) qualification. The IIA, Inc, continually accredits universities and colleges that offer
quality internal auditing programmes.
Approved programmes are called Endorsed Internal Auditing Programs (EIAPs). There
are approximately 42 approved EIAP schools throughout the world. Unisa received
EIAP status in 2004 for its undergraduate B Com with specialisation in Internal Auditing
degree and its Honours BCom with specialisation in Internal Auditing degree. Unisa is
one of only two EIAP schools in South Africa.
page 16 Psychology @ Unisa
The Institute of Internal Auditors South Africa
The Institute of Internal Auditors South Africa is the national institute of the internal
auditing profession in South Africa. It was established on 11 November 1964 and
is affiliated to the international institute in the USA. It subscribes to the professional
standards and the certification programme of the international institute.
Membership is confined to people who have a formal academic or professional
qualification or have had a minimum number of years’ experience of internal auditing
or other relevant practical experience. The institute currently has approximately 5000
members.
Unisas Internal Auditing education programmes are career oriented and enable you
to:
Become part of the management team of an organisation.
Become part of an internationally recognised management orientated
profession.
Pursue a career in internal auditing.
The education programmes offer career opportunities in most big organisations and
especially in the following areas:
Commerce and industry
Public sector
Local government
Academic
The specialised knowledge of financial and management accounting, business
management and audit aspects offered by the qualifications enables successful
candidates to be of service to the organisation in all of its operational areas.
The qualifications also allow successful candidates to be admitted to write the
professional qualifying Certified Internal Auditor (CIA) international examinations.
For more information please visit the website of the Institute of Internal Auditors
South Africa: http://www.iiasa.org.za/.
The Institute of Certified Bookkeepers
(ICB)
The Institute of Certified Bookkeepers Ltd, ICB, is a professional body and was
established in 1931 to address the growing need for qualified bookkeepers in Southern
Africa. The ICB is the largest bookkeeping body of its kind in South Africa and has
over 3 000 members.
As a professional body, the ICB not only co-ordinates various training programmes
and learnerships, it also conducts nationally set assessments for the ICBs registered
Psychology @ Unisa page 17
qualifications and other qualifications of certain training providers. The ICB also
provides services and facilities aimed at keeping its members and learners in touch
with the latest developments in the field of accounting. There are various membership
levels available to learners who embark on a programme of study towards the ICB
qualifications, learnerships or skills programmes.
Students who have completed the National Higher Certificate in Accountancy or one
of the following national diplomas at Unisa may apply for membership of the ICB:
National Diploma: Accounting
National Diploma: Cost and Management Accounting
National Diploma: Internal Auditing
National Diploma: Taxation
For more information please visit the ICBs website: http://www.icb.org.za/.
How do I know which field is for me?
In order to make an informed decision regarding a career in accounting, we suggest that
you use a technique called informational interviewing to obtain more information.
What is an informational interview?
It is:
an interview designed to produce information needed to choose and refine a
career path
the process of spending time with one key industry network in a highly focused
conversation
a process of screening
Why do informational interviews?
To explore career options and clarify goals
To expand your professional network
To build your confidence in a non-threatening environment
To access up-to-date information
To identify personal strengths and areas for development
What are the steps involved?
Step 1: Identify one or more occupations you are interested in (assess your own
interests, abilities, skills and values; evaluate the labour condition and trends; prepare
your questions).
Step 2: Identify people to interview; start with a list of people you already know, such
as family and friends; locate alumni from your institution; use organisation directories;
lecturers; career offices.
page 18 Psychology @ Unisa
Step 3: Schedule your meeting by correspondence or by phone. Introduce yourself;
state why you are contacting this individual; state your interest and experience in
this field; and why you would like to converse - information and advice are the key
components.
Step 4: Do thorough company research before the interview to increase the quality of
your interview by using company websites; annual reports; company literature; library
reference material; university career office material; professional society magazines.
Step 5: The interview (pretend you are a reporter; be enthusiastic; listen carefully
and show interest; be direct and concise; share information about yourself; do not
dominate conversation; use your allocated time effectively; ask for one other contact;
look for links).
Step 6: Record, analyse and evaluate information by answering these questions:
What did I learn (positive and negative)? How does what I learnt fit in with my own
interests, abilities, goals and values? What do I still need to know? What plan of action
can I make?
What kind of questions could I ask to find out more about a
specific career/job?
What are your duties/ functions/ responsibilities?
What do you enjoy most about your job?
What do you enjoy least about your job?/ What frustrates you most about
your job?
How did you obtain this position? What jobs/ experiences led you to this job?
What sort of changes are happening in your occupation?
What are the educational and training requirements for this job/ occupation?
What other types of credentials or licenses are required?
What skills are important for this job/ occupation?
What personal qualities are important for this job/ occupation?
What work-related values are most important in this type of work (for example,
security; creativity; education)?
From your perspective, what are the problems you foresee about working in
this field?
Do you have any advice for someone interested in this field? Are there any
professional organisations or professional journals that could help me find out
more about this occupation?
Do you have any suggestions as to how one could gain experience in this field
(for example volunteer work; internship programmes)?
What are the typical entry-level job titles and functions for this occupation?
What entry level jobs are best for learning as much as possible?
Psychology @ Unisa page 19
What are the salary ranges for various levels in this field? Is there a salary
ceiling?
If you could do things over, would you choose the same path for yourself?
Why? What would you change?
How is the economy affecting this occupation?
What can you tell about the employment outlook in your occupational field?
How much demand is there for people in this occupation? How difficult is it to
find employment as an entry-level employee in this occupation? Is there much
demand for people trained in this field?
Where can I start?
Make a list of your friends and family. Do any of them work in the accounting
field, or know of someone who does?
Professional organisations in the field of accounting list companies on their
websites.
Recruitment agencies that specialise in recruiting finance and accountingrelated personnel could assist with information. Check the newspapers and the
Internet for the names of companies and/ or specific recruiters.
Please read through the following list of core competencies and rate yourself on a
scale of 1-4 where:
1 = I have not developed this competency at all
2 = I have developed this competency to some extent
3 = I feel comfortable with this competency
4 = I feel that I have developed this competency to a large extent
In the column marked “Action plans”, please reflect on how you could develop this
competency, especially for those competencies you gave a rating of 1 or 2.
Skill
page 20 Psychology @ Unisa
My rating
My action plan
Professional skills including technical and
functional skills; personal, interpersonal
and communication skills; business
management skills
Intellectual skills including the ability to
locate, obtain, organise and understand
information from human, print and
electronic sources; the capacity for
enquiry, research, logical thinking,
powers of reasoning, critical analysis and
scepticism; and the ability to identify and
solve unstructured problems in unfamiliar
settings and to apply problem-solving
skills
Technical and functional skills, consisting
of generic skills as well as skills specific
to accountancy. They include literacy,
numeracy and IT proficiency; and risk
analysis and measurement
Personal skills, including self-management;
taking the initiative; self-learning; time
management; adapting to change
Do a skills audit
Knowledge and understanding of
academic disciplines including general
knowledge; organisational and business
knowledge; information technology
knowledge; and accounting and
accounting-related knowledge)
Skill
My rating
My action plan
Interpersonal and communication skills,
including the ability to work with others
in a consultative process; handling
conflict; negotiation skills; cross-cultural
sensitivity; presentation skills; reporting
skills (formally and informally, through
written and spoken language); listening
and reading skills
Organisational and business management
skills, including strategic planning, project
management and management of people
and resources; the ability to organise and
delegate tasks, to motivate and develop
people; and leadership
Professional values and ethics adhering to
codes of conduct where relevant to your
profession
Career management skill 1
Conducting frequent skills/ knowledge
assessments (audits). What can you do
and what do you know?
Psychology @ Unisa page 21
Skill
My rating
My action plan
Career management skill 2
Creating learning goals to remain current
and informed about your inner needs
and the outer realities. What gaps are
you identifying between what you need
and the opportunities and/or constraints
created by your environment?
Career management skill 3
Identifying, creating and maintaining a
diverse network of contacts in order to
market yourself and find out information
Career management skill 4
Job-search skills: preparing and updating
your career portfolio and curriculum
vitae on a regular basis; conducting
informational interviews; developing job
interview skills
Competencies suggested by the South African Institute of Chartered Accountants
(SAICA) and the Unisa Bureau for Counselling, Career & Academic Development
•
•
•
•
complete your last module at third level. This helps you to recheck that you
understand the basic concepts. If you cannot recall them, you need to redo
the activities.
Cramming does not work in Accounting. You need a long period to master
new work because you need to integrate your conceptual understanding
(linking new concepts to all the previous concepts) at every study session.
When you work through study guides, read to understand "why" and then
there will be little need to memorise work. Work through examples to
understand "how to".
Turn the learning outcome statements into questions and work through the
module to find answers to these questions.
Be sure that you checked small details and understand the procedures for
every step.
Summary of accounting qualifications
@ unisa
Specialisation degrees
Bachelor of Accounting Science (BCompt) degree
BCom with specialisation in Internal Auditing
How do you ensure that you pass and
do well in your Accounting modules?
(Source: Hints from the OSU Accounting Program. Available:
http://www.bus.oregonstate.edu/services/options/accounting/hints.htm [27/06/2006]
What does the study of Accounting demand from you?
•
•
•
•
You should have a professional orientation and a sense of self-sufficiency.
This means that you are able to prioritise the competing demands on your
time. One reason many students fail Accounting is that they do not complete
their exam paper. Therefore, right from the beginning work smart and
efficiently, so that you get tasks done.
Manage your study tasks as you intend to manage a demanding job in the
future: with full attention and dedication and regular work. Be prepared to
handle pressure as the workload can create stress.
When you encounter difficulties, do not give up. It is quite acceptable to have
to redo an activity a number of times before you understand it.
Learn good study skills and habits right from the first module. Do at least an
hour of Accounting everyday. What you learn in Accounting is of cumulative
value. Keep your study guides and textbooks from the first year until you
page 22 Psychology @ Unisa
BCom with specialisation in Management Accounting
BCom with specialisation in Municipal Accounting
Accounting can be completed as a major subject for the following
degrees:
BCom General
BCom with specialisation in Economics
BCom with specialisation in Financial Management
BCom with specialisation in Informatics
BCom with specialisation in Law
BCom with specialisation in Management
BCom with specialisation in Quantitative Management
BCom with specialisation in Risk Management
BCom with specialisation in Transport Economics
BAdmin (Bachelor of Administration)
BBA (Bachelor of Business Administration)
Psychology @ Unisa page 23
National Higher Certificate
Accounting
National Diploma
Short learning programmes
School of Applied Accounting
Accounting
Accounting
Accounting and Finance for Medical and Health-related Professions
Cost and Management Accounting
Course in Computerised Bookkeeping
Credit Management
Course in Intermediate Financial Accounting
Finance and Accounting (Public)
Internal Auditing
Taxation
Postgraduate Certificate in Advanced Taxation
Local Government Finance
Programme in Taxation: a Strategic Approach
Taxation
Course in Administration of Estates
BTech degree
Course in Mining Taxation
Accounting
Course in Taxation
Cost and Management Accounting
Course in Value-added Tax
Credit Management
Advanced Programme in Value-added Tax
Finance and Accounting (Public)
Internal Auditing
School of Accounting Sciences
Accounting
Local Government Finance
Basic Principles of Financial Statement Analysis and Interpretation
Taxation
Course in Business Computing
Postgraduate
Course in Fundamental Accounting
Honours Bachelor of Accounting Science (Honours BCompt)
Course in Practical Bookkeeping
Honours BCom: Accounting (with specialisation in Financial Accounting or
Management Accounting)
Course in Financial and Accounting Principles for Public Entities
Master of Accounting Science (MCompt)
Master of Accounting Science: Taxation
Master of Commerce: Accounting
Auditing
Short Course in the Professional Practice Framework for Internal Auditors
Programme in Forensic and Investigative Auditing
Doctor of Accounting Science
Doctor of Administration: Accounting
Doctor of Commerce: Accounting
MTech: Cost and Management Accounting
MTech: Internal Auditing
MTech: Taxation
page 24 Psychology @ Unisa
Psychology @ Unisa page 25
Who can you contact for information about
admissions and registrations?
Unisa Department of Student Admissions & Registration
Contact details: Unisa
Contact centre 086 167 0411 (local) · Contact centre +27 11 670 9000
(international)
First enquiries (prospective students): study-info@unisa.ac.za
Admissions office (application for exemption certificates): ame@unisa.ac.za
All international students: international@unisa.ac.za
Who can you contact for more information about
Unisa’s programmes?
Director: School of Accounting Sciences
Phone: 012 429 4975
e-mail: smithm3@unisa.ac.za
Head of Department: Auditing
Phone: 012 429 4707
e-mail: ventee@unisa.ac.za
Head of Department: Financial Accounting
Phone: 012 429 4459
e-mail: mongakp@unisa.ac.za
Head of Department: Management Accounting
Phone: 012 429 4753
e-mail: mautjpl@unisa.ac.za
Head of Department: Taxation
Phone: 012 429 4494
e-mail: brechsj@unisa.ac.za
Who can you contact for career and academic
counselling?
Bureau for Counselling, Career & Academic Development
Tswane: 012 429 3513 Fax: 012 429 3698 counselling@unisa.ac.za
Johannesburg: 011 403 7111 Fax: 011 403 7111 neilspg@unisa.ac.za
Polokwane: 015 290 3441 Fax: (015) 291 3448 lephomj@unisa.ac.za
Durban: 031 335 1745 Fax: 031 337 4142 reddya1@unisa.ac.za
Parow: 021 936 4130 Fax: 021 936 4131 barnase@unisa.ac.za
E-mail: counselling@unisa.ac.za · Website: http://www.unisa.ac.za/counselling/
page 26 Psychology @ Unisa
Psychology @ Unisa page 27
Independent Regulatory Board for Auditors (previously Public
Accountants’ and Auditors’ Board)
Gauteng:
Tel: 011 622 8533
Fax: 011 622 4029 ·
PO Box 751595, Garden View, 2047
Contact details: Professional
Organisations
Cape:
Tel: 021 423 3938
Free State:
Tel: 051 447 0092
Fax: 021 423 3974 ·
PO Box 4484, Cape Town, 8000
Fax: 051 447 0018 ·
PO Box 12911, Brandhof, Bloemfontein, 9324
KwaZulu-Natal:
Tel: 031 267 1842
Fax: 031 267 1838 ·
PO Box 1098, Westville, 3630
Website: http://www.paab.co.za/
South African Institute of Chartered Accountants (SAICA)
Tel: 011 621 6600
Fax: 011 622 3321
Website: http://www.saica.co.za/
The Institute of Certified Bookkeepers
Tel: 021 421 1110
Fax: 021 421 1136
PO Box 2237, Cape Town, 8000
E-mail: enquiries@icb.org.za/ · Website: http://www.icb.org.za/
Central Region: Tel: 051 447 0092
The Institute of Internal Auditors South Africa
Eastern Region: Tel: 031 267 1842
Tel: 011 450 1040
Northern Region: Tel: 011 621 6600
Website: http://www.iiasa.org.za/
Fax: 011 450 1070
P O Box 2290, Bedfordview, 2008
Southern Region: Tel: 021 423 3938
Association of Chartered Certified Accountants (ACCA)
Tel: 011 459 1900
Fax: 011 268 6374
PO Box 924, Saxonwold, 2132
E-mail: info@za.accaglobal.com
Website: http://www.accaglobal.com/
South African Institute of Professional Accountants (SAIPA)
Tel: 011 486 0283
Fax: 011 486 0632
Website: http://www.saipa.co.za/
Chartered Institute of Management Accountants (CIMA)
Postal address: PO Box 745, Northlands, 2116
Physical address: 2nd floor, South Block Offices, Thrupps Centre, 204 Oxford Road,
Illovo
Tel: 0861 CIMASA (0861 246272)
Fax: 011 268 2556
Email: johannesburg@cimaglobal.com
Website: http://www.cimaglobal.com/
page 28 Psychology @ Unisa
Psychology @ Unisa page 29
Today’s date: _____________________________
Feedback Form
CHANGE
We would appreciate your feedback about this book so that we can update it as
needed.
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Please return this sheet to:
Sonja Barnard; Bureau for Student Counselling & Career Development, Unisa: Western
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page 30 Psychology @ Unisa