Review of the Bachelor of Commerce (Honours), Master of Commerce, and Graduate
Diploma in Accounting and Information Systems at the University of Canterbury
Summary of major recommendations
1.0.There should be a coordinator of the college graduate programmes.
2.0.The B. Com. (Hons) should be retained.
3.0.A 180-point Master’s degree in Business should be introduced.
General comments
The review panel was given a self-review from the College of Business and
Economics as well as submissions from a number of individuals. We then met between 5 and
7 November, 2012 at the college, and talked to staff and students from within the college, the
College Advisory Board (composed of business people who represent local employers), and
Erik Brogt and Sue Holstein from the University of Canterbury.
The panel was given all the information we requested, sometimes at very short notice.
Thank you! Without exception the people we spoke to were helpful, cooperative, and
prepared to engage in the review process. We were impressed by the evident passion that
many college academics (younger and older) possessed for teaching their graduate students.
Over the previous years, the staff have endured an extremely tough working environment.
The problems of the earthquakes themselves, the fall in the student roll, and subsequent job
uncertainty are shared with the rest of the university, but the College of Business and
Economics has also had to cope with makeshift and temporary accommodation, and the loss
of many key staff. That so many have retained their enthusiasm is all the more praiseworthy
(Commendation 1).
Graduate degrees in the college
Overall, the graduate degrees we reviewed do a very good job of providing a
qualification that is respected and found valuable by employers in New Zealand. This is
particularly true of the B. Com (Hons). On the other hand, the existing qualifications do not
attract many foreign, full fee-paying students. Thus, an important part of this review is the
consideration of the suitability of a 180-point Master’s degree that could be taught over a
shorter time period than the current 2-year M. Com.
The introduction of any new qualification would have to take into account a number
of constraints. These include:
1) The university does not appear to be in a position to fund many additional staff or
provide other extra resources.
2) A new qualification would thus be based mainly on existing courses and
capabilities rather than additional ones.
3) Although some existing students may think that employers mainly seek higherlevel graduates with specific job skills, our impression, based on an admittedly
small sample of employers as well as the results of graduate surveys, was that
employers seek graduates with good communication skills, critical thinking
ability, and curiosity. These attributes are more likely to be acquired where
individual class sizes are not too large. (As a single example, individual oral
presentations are easier to schedule with a class size of 12 than a class size of
120.) Thus, there is a strong case for trying to ensure that at least some individual
courses do not exceed 20-30 students. However, at present this is a theoretical
constraint, as there is considerable scope for the cohort of commerce graduate
students to be enlarged without having to compromise the qualities valued by
employers.
The panel believed that a number of the specific recommendations made below would
be easier if there was a single coordinator of the graduate programmes, perhaps an Associate
Dean perhaps. (Recommendation 1.0). At present, as is made clear below, the different
departments, and sometime different programmes within the same department vary
considerably. Such variation often has strengths, but there are also inequities, especially
where the variation does not relate to differences in subject content.
B. Com. (Hons)
At present the qualification is essentially offered in five different majors. In 2012,
accountancy (including tax and information systems) had 17 students; economics 10; finance
21; management 12; and marketing 13. Of these, management has recently been formed by
amalgamating smaller programmes. This amalgamation appears to have been successful and
we believe it should be retained. Although all five majors attract postgraduate students, there
seems scope for them (except perhaps finance) to recruit more. Some individual papers had
rather small enrolments. (Tax and information systems have relatively small numbers but the
courses taken by these students are mostly also taken by those studying accountancy.) With
the change in the NZICA rules for licensing chartered accountants (see below), numbers in
accountancy and related subjects may fall from 2013. Although admission criteria vary
slightly between the majors, overall it is quite high (B or B+).
There is no question that the present B. Com (Hons) is a qualification that is both
desired and respected by employers. Students readily find employment, often rapid
employment, even in the current economic conditions. This is a very important and
praiseworthy achievement (Commendation 2). All majors clearly perform very well on this
important criterion, but economics and finance are outstanding. These graduates find ready
employment with the most important and influential organisations in the country (e.g.
Treasury; the Reserve Bank; the major trading banks). It is apparently an expectation of good
undergraduate students in economics and finance that they progress to honours. Other majors
(and not only in this college) might consider investigating how such a culture of excellence
might be imitated.
Overall, we definitely recommend that the B. Com. (Hons) be retained.
(Recommendation 2.0). However, a number of issues were brought to our attention and these
lead to specific recommendations, particularly to do with the teaching of research methods
and the research projects.
We were asked specifically to consider the 400/600 level teaching of research
methods across the college with a view to seeing whether a common research methods course
might be advisable. Currently all majors have a 30-point methodological requirement but the
individual courses differ. We found that no one course was likely to suit all the different
methodological demands of the different majors. (For example, economics and finance
students require calculus; the others do not.) However, it might be possible to offer a 15-point
core course that might satisfy some requirements of marketing and management (and perhaps
also accountancy), and then to supplement this core course with separate, more focussed 15point offerings for each major. At any rate we recommend that this possibility be explored
(Recommendation 2.1).
We also note that students taking the management major often have limited statistical
backgrounds, and suggest that taking a 300-level methods course, either as part of the regular
programme or perhaps in the summer preceding honours, be a prerequisite for entering this
honours programme. (Recommendation 2.2). Again within the management programme, it
was suggested to us by more than one supervisor that there should be greater coordination of
the marking of the literature reviews between the course coordinator and the supervisors
(Recommendation 2.3). It is worth repeating here that the current management programme
has only recently been formed by amalgamation and, given the circumstances over the last
two years, it is unsurprising that such issues arise.
A number of issues were raised with the research projects that usually form part of the
honours programmes. In the first place, we note that some of the finance honours students do
not currently undertake projects, partly because of staff shortages. It is thus questionable
whether this programme is CUAP compliant, and we recommend that appropriate projects be
available for all these students. (Recommendation 2.4).
It is a common complaint from both staff and students that the current timeline for the
honours projects is very tight. Moreover, the deadlines for completion vary across the majors.
We recommend that the same deadline be adopted across the college and that this deadline be
as late as practicable (Recommendation 2.5). Those students whose research involves human
subjects can also have lengthy delays to their applications for Human Ethics consent
(particularly if applications for research to be treated as low-risk are then reclassified as
normal applications). We recommend that ethics procedures are made such that no honours
student is subject to a delay of more than five working days between submission of an
application and its approval (Recommendation 2.6). Lists of possible research projects could
also be available in all programmes – at present the practice is variable (Recommendation
2.7). While there is much to be said for all students being able to take a research idea from
initial idea to completion, the time constraint of honours suggests otherwise.
A number of staff who spoke to us remarked that more could be done to attract
postgraduate students by appropriate marketing. We recommend that the college and the
component departments and majors investigate suitable marketing of the majors
(Recommendation 2.8). The recent success of the finance and (as we would hope!) marketing
majors in this respect should provide good models.
Overall, the B. Com (Hons) appears to be a successful programme in all the majors in
which it is undertaken, both in academic terms and its reception by the New Zealand job
market.
M. Com.
At present this course mainly fulfils the requirements of the rather rare, researchoriented commerce student. Some students begin their research in this course and then
upgrade to a PhD. Numbers taking it are relatively low but there seems little reason to change
it at present, although we suspect that the numbers taking it will fall if a 180-point Master’s
course is introduced. We do not recommend any change at present.
Graduate Diploma in Accountancy and Information Systems.
Up until recently the accountancy professional organisation (NZICA) required that
those wishing to register as chartered accountants undertake four years of university study.
Some students took accountancy honours, others this diploma. The professional rules have
now been relaxed to require only three years of study. The general expectation is that the
numbers of those taking accountancy honours may fall, and that almost no one will take this
diploma. However, we hesitate to recommend that the diploma be removed from the books
completely as the label may prove useful in the future to students who have graduated in
other disciplines who wish to also train as accountants.
180-point Master’s Degree in Business.
Changes to the New Zealand-wide rules for Master’s degrees are nearing finalisation
by NZQA and CUAP. Although the final version of the rules is not yet (14 November, 2012)
known, it is extremely likely that (a) there will be a capability to offer such Master’s degrees
to those who have completed 3-year bachelor degrees in New Zealand or the equivalent
elsewhere, (b) the 180 points will be expected to be at qualification level 8 or 9 (that is, of the
same standard as current honours papers, honours projects, master’s theses), and (c) [a little
more uncertainly] at least 40 points will have to be at level 9 (that is, a research project or
thesis).
It is envisaged that this degree could be completed within 12 to 18 months. Many
New Zealand universities consider this an opportunity to attract overseas students, as these
students would receive an internationally recognizable qualification after a year or, at most a
18 months’ work. (The B Com (Hons) is not really recognizable overseas.)
Everyone we spoke to favoured the introduction of this qualification within the
college – at least on a trial basis. A number of different versions were suggested. Some
pointed out that the number of foreign student who would come is unknown. Thus, although
the panel definitely recommends that a version of this degree be introduced
(Recommendation 3.0), we recommend that it run alongside the current B. Com (Hons) rather
than replace it. We would encourage the college to consider not only how the new degree
would be marketed but also what it offers that other New Zealand or overseas universities do
not. The relative viability of the degrees could be assessed at a later stage. Hence our earlier
recommendation that the honours degree be retained, and some of the specific
recommendations below.
We call this 180-point qualification the Master of Business (M. Bus.) below for
convenience, but we have no recommendation of this or any other particular name or names.
It follows from the constraints mentioned earlier that the M. Bus. would have to be
based on substantially the same courses as the existing B. Com (Hons). It also follows that
existing provisions for some courses to be taken outside the major for the B. Com (Hons)
should also apply to the M. Bus. The panel recommends that, at least initially, reasonable
provision should be made for students to be able to transfer from one degree to the other. For
example, a student who enrols for a M. Bus. and realises in mid-year that (s)he would be
content with a B. Com (Hons) should be able to transfer to it. (Recommendation 3.1).
We received a variety of suggestions for how the M. Bus. should be structured. One
suggestion, particularly applicable to overseas students, was that there should be 60 points of
preparatory “pre-honours” courses over the spring and summer followed by 120 points of the
“normal” B. Com (Hons). However, this structure would fail to meet the prescribed academic
standard, as the preparatory courses are likely to fall below levels 8 or 9. Our suggestion is
that the M. Bus might run from approximately February to February, and be preceded by
whatever preparatory courses might be necessary to bring the individual student up to prehonours or pre-masters standard in such areas as English, calculus, etc. Such a preparatory
course could be given a label such as Graduate Certificate in Business Research Studies if
desired, but could not be part of the M. Bus.
There were many suggestions regarding the appropriate weighting of the course and
research components. There is likely to be a set minimum of 40 research points (effectively
45 in the current University of Canterbury setting). Suggestions were also made of 120
(course)/60 (research), and 90 (course)/90 (research). The panel thought it unlikely that any
single division would suit all individual students. Perhaps, too, some majors might struggle to
offer either a 90 point thesis to many students or 135 points of taught courses. We therefore
recommend that the choice of weighting should be left open between 135/45, 120/60 or
90/90. (Recommendation 3.2). We further recommend that the choice should be left to the
student wherever possible, although it may be that this choice might be constrained for some
majors (Recommendation 3.3).
Finally, many of the specific recommendations made earlier regarding the B. Com
(Hons) apply to the M. Bus too. (For example, those regarding ethical approval and
appropriate marketing.)
Other recommendations
We recommend that the college investigate the consistency of grading and the types
of assessment required across different majors. There is a quite a variety. (Recommendation
4.1)
The different handbooks do not all communicate learning outcomes and they should
(Recommendation 4.2).
We note that, as in other colleges, the postgraduate students in commerce teach
undergraduates as well as learn themselves. This has advantages for both the undergraduate
and postgraduate students. Postgraduate students are likely to find their knowledge of the
subjects deepened by teaching them. They also acquire important communication and
mentoring skills that will serve them well in their subsequent careers. However, these
teaching opportunities do not all seem to be disclosed to all the students. We recommend that
such jobs are widely advertised and available (Recommendation 4.3).
The College Advisory Board remarked that they had little input into the college. The
panel found the views of the board members thought-provoking, and think that the college
could get more out of this resource (Recommendation 4.4).
List of commendations
1. We strongly commend the passion and commitment shown by the college staff to
their postgraduate teaching.
2. We strongly commend the achievement of the college and its staff in offering
graduate programmes that achieve such a high degree of respect from employers.
Full list of recommendations
1.0 There should be a coordinator of the college graduate programmes.
2.0 The B. Com. (Hons) should be retained.
2.1 The possibility of a core 15-point methodology paper for management, marketing
and accounting should be explored.
2.2 The management major should explore a 300-level methods paper as a
prerequisite for honours.
2.3 The management major should involve supervisors more in the marking of the
literature review.
2.4 Appropriate honours projects should be available for all finance students.
2.5 The same, late deadline for honours projects should apply across the college.
2.6 Honours student should not suffer a delay of more than five days in obtaining
ethical approval for projects.
2.7 Lists of possible research projects should be made available to all students.
2.8 Marketing of the postgraduate programmes should be enhanced.
3.0 A 180-point Master’s degree in Business (M. Bus?) should be introduced.
3.1 It should be made easy for students to transfer from this M. Bus. to the honours
programmes and vice versa.
3.2 A range of different weightings between taught courses and research be available
within the M. Bus.
3.3 As far as practicable the choice of weighting should be the student’s.
Miscellaneous recommendations
4.1 The college should investigate the consistency of assessment and methods of
assessment across the college.
4.2 Handbooks should communicate learning outcomes.
4.3 Teaching positions for postgraduate students should be more widely advertised
and available.
4.4 The College Advisory Board could be given a greater role.
Rob Harris, David Hay, Simon Kemp, Stephen Teo, Scott Walker
Appendices
Review panel
Mr Robert Harris
Financial Assurance and Auditing, Managing Partner, PwC (Christchurch)
Professor David Hay
Professor of Auditing and HOD Accounting & Finance, University of Auckland Business School
Professor Simon Kemp (convener)
Department of Psychology, College of Science, University of Canterbury
Professor Stephen Teo
Professor of Human Resource Management, AUT Business School, Auckland University of
Technology
(Until June 2012 Leader HRM Discipline, School of Management, Curtin Business School, Perth)
Dr Scott Walker
Senior Lecturer, School of Social and Political Sciences, University of Canterbury
Terms of reference
A review panel, chaired by Professor Simon Kemp, Department of Psychology,
University of Canterbury, was assigned to carry out a review of the BCom(Hons), MCom and
GradDipAcc&IS with the following terms of reference:
1. To assess whether the Bachelor of Commerce with Honours, Master of Commerce
and Graduate Diploma in Accounting and Information Systems meet national and
international standards.
2. To identify:
a. areas that may benefit from changes and/or improvements, in particular
focusing on:
i. meeting national and international standards
ii. achieving the stated graduate attributes
iii. meeting professional or employer requirements
b. areas that are exemplars of good practice.
Specific questions for each of these awards were posed as follows:
BCom(Hons)
 Does the programme prepare students well for the professional world?
 Does the programme prepare students well for higher postgraduate level academic
study?
 Should the research methods papers be combined into a single course for all majors?
 Is the number of majors appropriate for the degree?

Would this programme be best delivered as a 180 point Master’s Degree with 120
points taught and a 60 point project?
Master of Commerce (MCom)
 Does the programme prepare students well for the professional world?
 Does the programme prepare students well for higher postgraduate level academic
study?
 Would this programme be best delivered as a 180 point Master’s Degree with 90
points taught and a 90 point project?
Graduate Diploma in Accounting and Information Systems (GradDipAcc&IS)
 Does the programme prepare students well for the professional world?
 Does the programme prepare students well for the entry into BCom(Hons)/MCom?
Does the programme need to be changed in light of recent changes to the NZICA
requirements for the accounting profession?
Data on numbers enrolled
Table 1. BCom(Hons) headcount per major
ACC
T
ACI
S
ECO
N
FIN
C
2009
26
9
2010
39
2011
2012
12
HR
IS
MG
MT
MSC
I
5
13
9
6
5
9
7
30
11
9
1
3
2
10
21
2
3
2
IB
2
MK
TG
STR
AT
2
11
3
3
13
2
TAX
3
Table 2. BCom(Hons) enrolments by demographic variables
BCom(Hons) Enrolments
Headcount
EFTS
Age
20
21
22
23
24
25-34
35-44
45-54
55-64
Total Students
2009 2010 2011 2012
2
1
2
24
26
32
29
14
14
13
18
8
4
8
9
4
6
8
2
8
10
5
11
4
5
2
5
1
1
1
1
1
65
67
71
76
Age
20
21
22
23
24
25-34
35-44
45-54
55-64
Total EFTS
2009 2010 2011 2012
2.2
1.0
2.6
25.2 26.6 32.5 29.1
13.7 14.8 13.4 18.5
7.2
3.6
8.1
8.8
3.6
5.7
7.8
1.6
6.3
8.4
2.9
7.1
3.6
3.7
1.1
3.5
0.5
0.5
0.1
0.4
0.5
62.5 64.4 68.4 69.6
Gender
Female
Male
Total Students
2009 2010 2011 2012
31
29
33
37
34
38
38
39
65
67
71
76
Gender
Female
Male
Total EFTS
2009 2010 2011 2012
27.7 26.1 30.6 33.7
34.8 38.2 37.9 35.9
62.5 64.4 68.4 69.6
Ethnicity
Asian
European
Indian
Maori
Pasifika
Other
Not Stated
Total Students
2009 2010 2011 2012
19
18
9
27
40
43
51
43
1
1
3
3
1
1
5
1
1
1
1
1
2
1
3
1
1
1
65
67
71
76
Ethnicity
Asian
European
Indian
Maori
Pasifika
Other
Not Stated
Total EFTS
2009 2010 2011 2012
16.3 14.9 6.2 21.8
41.3 44.0 50.5 42.9
1.0
1.0
3.0
2.1
1.0
1.0
5.3
1.0
1.0
1.3
0.8
0.5
2.0
1.0
2.5
0.5
1.3
1.0
62.5 64.4 68.4 69.6
Table 3. M. Com enrolments by demographic variables
MCom Enrolments
Headcount
EFTS
Age
21
22
23
24
25-34
35-44
Total Students
2009 2010 2011 2012
1
1
1
2
4
1
1
2
4
4
4
1
1
4
4
7
5
2
2
4
3
2
13
17
17
13
Age
21
22
23
24
25-34
35-44
Total EFTS
2009 2010 2011 2012
0.4
0.8
0.8
1.1
1.9
0.1
0.4
1.0
2.4
2.0
1.9
0.6
0.2
1.4
1.5
5.0
1.7
0.8
1.6
2.7
2.5
0.5
6.6 11.2 8.7
4.9
Gender
Female
Male
Total Students
2009 2010 2011 2012
7
10
11
5
6
7
6
8
13
17
17
13
Gender
Female
Male
Total EFTS
2009 2010 2011 2012
3.9
6.8
4.7
1.9
2.7
4.4
4.0
3.0
6.6 11.2 8.7
4.9
Ethnicity
Asian
European
Maori
Not Stated
Total Students
2009 2010 2011 2012
5
8
8
4
6
7
7
8
1
2
2
1
1
13
17
17
13
Ethnicity
Asian
European
Maori
Not Stated
Total EFTS
2009 2010 2011 2012
2.5
5.3
2.7
1.1
2.9
4.2
4.5
3.6
0.9
1.7
1.6
0.3
0.2
6.6 11.2 8.7
4.9