By Otsile Swaratlhe | April 6, 2023
Wits accounting students pass with flying colours at the first annual chartered accountancy qualifying exams.
Graduates of the Wits School of Accountancy, who sat for the January 2023 Initial Test of Competency (ITC) exam achieved a 97% pass towards being chartered accountants.
Of the 3 021 candidates who sat for the exam, the Wits School of Accountancy was represented by 248 candidates and a whopping 240 of them passed.
The ITC is the first of two qualifying exams for the South African Institute of Chartered Accountants (Saica) – a regulatory body for all chartered accountants in the country. The second qualifying exam is the Assessment of Professional Competence (APC), candidates must pass the ITC before qualifying for the APC.
Although Wits came fourth behind the University of Pretoria (first), North-West University (second), and the University of Stellenbosch (third), the school managed to produce the second highest pass by full time African students at 96%.
In addition, Muhammad Sharaafat Moosajee, Lenn Maja and Riyadh Lakhi from stood out with Honour’s passes – a total mark 75% or more -in the exam. With Moosajee coming joint fifth in the overall candidate’s results rankings.
The head of the school, professor Nirupa Padia (60) told Wits Vuvuzela, “when I started as head [in 2013], [Wits’ pass in the ITC] had been about upper 80s, lower 90s. It wasn’t this high, and it didn’t have [this many] transformation [African] students.” She attributed the stellar results to the school’s teaching approach in the second semester of last year, where they managed to get students back on campus.
Lenn Maja (22) who is currently an academic trainee at the school, said that he had mixed feelings when the results came out. “I could not be excited because I had to focus on my master’s [degree in commerce],” he said. However, he added that the pass came as no surprise to him, “the moment I got my results for postgraduate diploma, I knew I was ready.”
He attested to Wits’ participation in his preparation and said that they showed him and his 2022 group great support. “Consultations, tutorials and ITC past paper were all provided by the school,” he said. Maja was full of praises for the school as he closed off by saying, “When Wits says you are ready to wite ITC, you are ready to write ITC”.
ITC exams are written twice a year, in January and in June. With Wits having performed this well in January, we are all looking forward to seeing their performance in the June exams.
FEATURED IMAGE: A third-year Wits school of accountancy student compiling their lecture notes, shortly after collecting them from the school. Photo: Otsile Swaratlhe
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