Transforming the field of accountancy

2016-10-17 11:27

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The call for a new path for the profession of accountancy is strong and echoed across the country and globally. Valuing history but actively working to make sure that the future of the profession is inclusive and diverse and that’s what the University of Johannesburg (UJ) is working hard to bring about. The first South African Accounting History Centre was started by UJ in order to record the history of accountancy in South Africa and to endorse the social responsibility that comes with accountancy which is the ability to advise clients and offer assurance.

In 2008, UJ also made strides when they appointed their first black CA (SA) lecturer, Lyndsay Maseko and since his appointment Maseko has gone on to lecture in all four accountancy disciplines and has commented that UJ has given him the opportunity to challenge himself and explore all aspects of his interests.

Other than his lecturer position, Maseko also obtained a master’s degree in computer auditing; he is a shareholder, director and lecturer at APT, serves as the audit committee chairman of Safika Resources (Pty) Ltd.  “I’m not in this for accolades. I’m in it to change lives,” Maseko said. He sees his position as unique as he has been given the chance to nurture, encourage and mould the next generation of accountants. And that in and of itself is UJ’s aim, to create a space and culture that is inclusive for those who were previously disadvantaged so that they might be encouraged to pursue their dreams and contribute towards creating a better South Africa.

Research has shown that UJ remains the biggest residential university contributor to successful black African Chartered Accountants (CAs) in South Africa and the lowest difference in success rates between black Africans and white passes compared to other South African universities.

Each year accounting students across South Africa take the Initial Test of Competence (ITC) of the South African Institute of Chartered Accountants’ (SAICA). The results of the January 2016 ITC which was released in March revealed that University of Johannesburg student, Zahir Mayet obtained the first position in South Africa.  Professor Alex van der Watt, the Head of the Department of Accountancy has commented on the ITC results by saying that it helped to confirm the University of Johannesburg’s role in transforming the profession of accounting. He said “there can be no argument that performance against transformation indicators has become the most important yardstick when evaluating the performance of universities in the ITC.”

The University of Johannesburg takes many factors into account when measuring the success rate of the ITC results such as the amount of successful candidates at UJ compared to other universities, the pass rate of first time writers of the examination and the difference in the pass rate between UJ students from previously advantaged and disadvantaged backgrounds and the percentage in the gap between them and other universities. 

Sources: Ewn; Johan Fourie 


Read more on:    education

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