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School of Finance & Accounting
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A career as a chartered or professional accountant is stimulating and fast paced, where ambition, attention to detail and the ability to process financial information quickly and accurately is highly valued and handsomely rewarded. The School of Finance & Accounting prepares students for such a career by delivering a student centric accounting programme that facilitates learning in all disciplines. The School’s IIE qualifications embrace the core academic competencies of professional accounting frameworks. As a student you will study content relevant to your chosen qualification, you will be inspired by professionally qualified lecturers who are passionate about the training of accountants and you will develop lifelong learning skills to prepare you for the highly competitive and ever evolving world of business. The flagship qualification, The IIE Bachelor of Accounting degree (BAcc) is specifically designed to cover the core content of the educational component of the SAICA Competency Framework of the Chartered Accountancy profession. The IIE’s Varsity College School of Finance & Accounting is responsible for the academic operations of the professional accounting qualifications at The IIE’s Varsity College.
Mission Statement
To prepare students for a future career in business, by delivering a student centric accounting qualification that facilitates learning in all disciplines and embraces the core competencies of the professional accounting frameworks, to equip students with the necessary pervasive skills to succeed as professionals in the business world.
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Qualifications Offered in SOFA
The following programmes are offered in the School of Finance & Accounting
Postgraduate Qualifications
1. IIE POST GRADUATE DIPLOMA IN ACCOUNTING (PDAC412) MODE OF OFFERING: CONTACT FULL-TIME
PURPOSE OF THE QUALIFICATION
The IIE Postgraduate Diploma in Accounting provides the knowledge and skills required within the fields of Auditing, Financial Accounting, Management Accounting, Financial Management and Taxation, that affords a successful learner admission to the South African Institute of Chartered Accountant’s Initial Test of Competence examination. The Postgraduate Diploma in Accounting is presented for learners who wish to qualify as Chartered Accountants. The programme is therefore designed to meet the academic requirements of the Competency Framework of the South African Institute of Chartered Accountants (SAICA). This Competency Framework provides the academic programme requirements for entrance to the Initial Test of Competence, the first of two professional exams assessed for the Chartered Accountant qualification. This qualification is designed to graduate students with the ability to think and act strategically, professionally and ethically and to contribute meaningfully to the Accounting and Business sector. The programme design thus facilitates the development of a well-rounded Chartered Accountant. Graduates have both the theoretical depth and the applied skills relevant to further study or to succeed in the world of work.
EXIT LEVEL OUTCOMES OF THE QUALIFICATION
1. Prepare and, critically review complex company and group financial statements and supporting notes in accordance with International
Financial Reporting Standards. 2. Demonstrate awareness of the regulatory environment applicable to a registered auditor when conducting an assurance or nonassurance engagement. 3. Application of advanced costing techniques, performance management, decision-making problems and strategic and financial management in a broad range of complex and unfamiliar business applications. 4. Application of complex taxation legislation. 5. Application of advanced knowledge to a variety of business simulations by integrating information from the core disciplines to arrive at an appropriate solution to a complex problem. For specific information related to this qualification, including admission requirements and qualification structure, please download the fact sheet and academic calendar via the links below:
Access the Contact Full-Time qualification fact sheet here. Access the Contact Full-Time qualification academic calendar here.
Degrees
2. IIE BACHELOR OF ACCOUNTING (BAC322) (SAICA ACCREDITED) MODE OF OFFERING: CONTACT FULL-TIME
PURPOSE OF THE QUALIFICATION
This qualification provides students with a thorough theoretical grounding and knowledge base in the key principles of Accounting, including the disciplines of Auditing, Financial Accounting, Management Accounting and Finance and Taxation. The scope of the qualification is aligned to the syllabus requirements of professional accounting organisation and related accounting professional bodies. Thus, the Bachelor of Accounting is for students who intend to pursue a career in accounting. Students will be well prepared with the insight and skills relevant to further specialised study in support of the principles of lifelong learning. The specific skill sets incorporated in the design present a combination that is highly attractive to prospective employers and adds value to the organisation that employs them.
EXIT LEVEL OUTCOMES OF THE QUALIFICATION
1. Demonstrate an understanding of the broad South African business and legal environment and the national economy in which businesses operate. 2. Demonstrate the ability to provide accurate financial information from the processing of initial transactions to the preparation of financial statements for a complex range of business enterprises and groups in accordance with relevant legislation and the International Standards of Financial Reporting. 3. Demonstrate the ability to evaluate and resolve a range of business problems for both long and short term decision making purposes. 4. Complete audits in a range of business environments using International Audit Standards. 5. Demonstrate the ability to communicate effectively with all interested stakeholders in business in a professional and responsible manner on a range of business related topics. For specific information related to this qualification, including admission requirements and qualification structure, please download the fact sheet and academic calendar via the links below:
Access the Contact Full-Time qualification fact sheet here. Access the Contact Full-Time qualification academic calendar here.
The IIE Bachelor of Accounting (BAcc) degree is a SAICA accredited Bachelors’ degree designed to meet the specific educational requirements of SAICA. The programme design supports the core disciplines of Auditing, Financial Accounting, Management Accounting and Finance and Taxation which form the backbone of the SAICA competency framework.
PHASE-OUT/DISCONTINUATION OF A QUALIFICATION:
Phase-out/discontinuation is the process used to discontinue an offering, which includes special assessment concessions to assist students in completing their offering. The IIE may elect to discontinue offering a qualification, or curriculum, or mode of offering to new students on a campus, at a brand, or in its entirety. The offering is then phased out over a period and these are referred to as “Phase-Out” arrangements. The following programme is in Phase-Out at The IIE’s Varsity College for 2022 and letters have been issued to registered students. Programme in Phase out in the School of Finance and Accounting: • Year 2 Bachelor of Accounting (BAC312).
Access the Contact Full-Time qualification academic calendar here.
The path to qualify as a Chartered Accountant in South Africa (CA(SA)):
SAICA accredited 3 year Bachelors Degree in Accounting
SAICA accredited postgraduate qualification (CTA)
Two professional exams assessed by SAICA
3 year training contact
Academic calendar
The South African Institute of Chartered Accountants (SAICA) is the leading professional accounting institution in South Africa. Its main role is to develop Chartered Accountants to become leaders in government, business and communities. Accreditation by SAICA of The IIE BAcc degree confirms that the appropriate resources have been put in place to effectively deliver the programme and that the programme is designed to meet SAICA’s requirements in terms of the standards of teaching and learning. The IIE BAcc degree is accredited by SAICA at five of The IIE’s Varsity College campuses: • Cape Town • Durban North
• Pretoria
• Sandton • Durban Westville
The SAICA Competency Framework
The education and training of a Chartered Accountant CA(SA) is competency based. It focuses on ensuring that the CA(SA) has the necessary level of underlying knowledge and the practical skills and experience to apply that knowledge effectively. The SAICA competency framework identifies and describes the professional competencies (knowledge, skills and attributes) that a Chartered Accountant should demonstrate at entry point to the profession (i.e. on completion of the required academic programme, training contract, professional programme and SAICA assessments). The competency framework therefore underpins how The IIE BAcc degree is developed and delivered. In accordance with this framework, students will receive a thorough theoretical grounding and knowledge base in the key principles of Auditing, Financial Accounting, Management Accounting and Finance and Taxation and develop the pervasive skills as required by the accountancy profession.
SAICA Exams
The final assessments on the path to becoming a CA(SA) are administered by SAICA and include: • The Initial Test of Competence (ITC) is written after the completion of a SAICA accredited
CTA programme and is an assessment of core technical competence. There are two examination opportunities per year for the ITC - January and June. • Assessment of Professional Competence (APC) is the second part of the qualifying examination and assesses professional competence. To qualify for APC a student must have passed the ITC, completed a minimum of 20 months of the training contract and successfully completed the professional programme with a registered provider.
Training Contracts
All students must complete a three year learnership contract at a registered training office. The learnership contract is skills based and includes compulsory skills, elective skills and residual skills.
