Postgraduate Diploma in Accountancy

Purpose

The purpose of the Postgraduate Diploma in Accountancy is to equip students with specialised knowledge, skills, attitudes and competencies needed for the professional behaviour and practices expected of a graduate proposing to enter the profession of chartered accountancy. The qualification aims to enhance the student's understanding of the knowledge, methods and techniques relevant to the accountancy field, as well as the understanding of how to apply such knowledge in a particular context, including specific competencies in the fields of strategy, risk management and governance, accounting and external reporting, auditing and assurance, financial management, management decision making and control and taxation.

The above purpose is in line with the Level 8 descriptor and the curriculum is designed to include and address all the mentioned competency areas, as well as to develop personal attributes, ethical behaviour and professionalism and life-long learning skills.

Rationale

Given that a candidate wishes to register as a Chartered Accountant (CA) in South Africa, he or she must be in possession of a qualification accredited by the South African Institute of Chartered Accountants (SAICA). Currently the institution offers a Bachelor of Commerce Honours (BComHons) in Chartered Accountancy, registered with the South African Qualifications Authority and accredited by SAICA. As prescribed by the Higher Education Qualifications Sub-Framework, (HEQSF), the required number of research credits for an Honours qualification is 30 Credits. However, academic research is not a SAICA accreditation requirement. It is thus logical that the institution should look to offer a postgraduate qualification on the same level as the Honours Degree, but without the research requirement. As an alternative, the institution therefore offers a Postgraduate Diploma in Chartered Accountancy for those students who do not wish to register for the BComHons in Chartered Accountancy, or who do not meet the admission requirements for the said Honours Degree. The Postgraduate Diploma will therefore only include the modules required by SAICA and hence the qualification will also be accredited by SAICA and allow students to become chartered accountants.

This qualification will enable the institution to increase the number of potential Chartered Accountants because, due to capacity constraints, there are limits to the number of students the institution can accommodate in the current BComHons qualification due to capacity constraints of staff needed to supervise the research component.

Based on individual needs, the following stakeholders will benefit from this qualification. The list is by no means exhaustive.

• The students/graduates themselves: Qualifying as a CA(SA) means that the individual possesses the ultimate level of knowledge, competence and skill for practicing this profession, also as a leader in the business world and a contributor to the economic stability of the country.
• SAICA and other professional accountancy bodies: Professional bodies are the custodians of the profession. They closely monitor the pipeline of qualifying students and constantly strive to increase their membership to the benefit of their occupation.
• Employers: There is a shortage of qualified chartered accountants in South Africa and beyond, and employers welcome all efforts to increase their numbers, as well as their level of knowledge and expertise.
• Government and the public: Education is one of the most important objectives of Government and chartered accountancy has the potential of making a great impact on transformation, skills development and the upliftment of society in general.

The graduate will also be competent and eligible to enrol for a Master's Degree at Level 9, in a cognate field of study.

Recognition of Prior Learning (RPL)

The institution endorses the view that Recognition of Prior Learning constitutes an essential element of the transformation of access and admissions policies at education institutions in South Africa. The transformation of access and admissions policies is intended to increase participation and to broaden access to higher education in order to produce graduates with the skills and competencies necessary to meet the human resource needs of the country.

The Recognition of Prior Learning concerns the provable knowledge and learning an applicant has acquired. At all times the question will be what the level of the skills is, and skills will be assessed in the context of the exit level skills required by the qualification, or the status for which the applicant applies. Recognition of Prior Learning will therefore take place in terms of applied skills and competencies demonstrated by the applicant in his or her application, taking into consideration the exit-level outcomes that have to be obtained by means of the qualification. Therefore, students with proven knowledge and expertise will be allowed to apply for exemption from certain modules on grounds of prior learning experience and/or qualifications obtained. In all cases, recognition will be considered under the conditions of SAQA and the institution's policies and approval by faculty structures.

Entry Requirements

To be admitted to the Postgraduate Diploma in Chartered Accountancy the student

• Must have obtained a Bachelor of Commerce (BCom), Bachelor of Accountancy (BAcc), Level 7.

Or

• Must have obtained any BCom Degree other than a BCom (CA), should obtain the BComHons (Financial Accountancy) and also pass the module of Auditing on third-year level.

Or

• Who completed the BCom (Forensic Accountancy) or BComHons (Forensic Accountancy) may apply for admission and they must have successfully passed the following additional modules: Management Accounting and Financial Management on both second and third-year level, as well as Strategy, Risk Management and Control on third-year level.

Or

• Who previously, but not more than once, attempted the Certificate in the Theory of Accounting (CTA) may be admitted to the Postgraduate Diploma in Chartered Accountancy.

This qualification comprises compulsory modules at Level 8 totalling 160 Credits.

• Advanced External Financial Reporting, 40 Credits.
• Advanced Auditing, 40 Credits.
• Advanced Taxation, 40 Credits.
• Advanced Management Accounting and Financial Management, 40 Credits.

1. Demonstrate a broad range of integrated knowledge together with cohesive skills, attitudes and behaviour, accounts for the ability to deliver a specialised professional service.
2. Demonstrate an understanding of the methods and techniques relevant to the accountancy field and apply this knowledge in a particular context, including the field of strategy risk management and governance, accounting and external reporting, auditing and assurance, financial management, management decision making, control and taxation.
3. Demonstrate an ability to interrogate multiple sources of knowledge in the accountancy field, including the use of information technology.
4. Demonstrate an understanding of the complexities and uncertainties of selecting and applying or transferring appropriate standard procedures, processes or techniques to unfamiliar problems in accountancy.
5. Demonstrate an ability to use a range of specialised skills to identify, analyse and address complex or abstract problems drawing systematically on the body of knowledge and techniques appropriate to accountancy.
6. Demonstrate an ability to identify and address ethical issues based on critical reflection on the suitability of different ethical value systems to specific contexts and act in a professional manner.
7. Demonstrate an ability to critically review information gathering, synthesis of data, evaluation and management processes in accountancy in order to develop creative responses to problems and issues.
8. Demonstrate an ability to present and communicate professional ideas and texts effectively to a range of audiences, offering creative insights, rigorous interpretations and solutions to problems and issues appropriate to the context.
9. Demonstrate an ability to operate effectively within a team, or manage a team based on an understanding of the roles and relationships between elements within the team.
10. Demonstrate an ability to apply, in a self-critical manner, learning strategies which effectively address his or her professional and life-long learning needs.
11. Take full responsibility for his or her work, decision making and use of resources and full accountability for the decisions and actions of others where appropriate.

Associated Assessment Criteria for Exit Level Outcome 1

• Compile and/or criticise advanced subject-related calculations and reports, through the retrieval and critical analysis of information and the evaluation, integration and application of the accountancy pronouncements and techniques relevant to chartered accountancy practice.
• Describe the appropriate steps or procedures in performing any phase of an assurance engagement or evaluate and criticise internal control and governance systems.
• Review, analyse and appropriately interpret financial and non-financial information of the business, industry and general economic environment, including the manner in which such information is produced.

Associated Assessment Criteria for Exit Level Outcome 2

• Identify, analyse and solve complex, abstract and/or integrated accountancy problems or uncertainties, by drawing systematically from the relevant pronouncements, legislation and other sources.

Associated Assessment Criteria for Exit Level Outcome 3

• Effectively and responsibly organise and co-ordinate resources.
• Use information technology to support assurance practice or internal control and governance systems, to enhance financial reporting and tax administration, and to enhance management reporting, produce information for decision-making and financial management, or demonstrate an understanding of its use.

Associated Assessment Criteria for Exit Level Outcome 4

• Present contextualised accountancy opinions supported by defendable arguments on unfamiliar and complex problems by selecting and applying the relevant pronouncements, legislation and other sources.

Associated Assessment Criteria for Exit Level Outcome 5

• Think critically and creatively and identify and evaluate complex and real world problems.
• Apply professional judgement in reaching conclusions and solving accountancy-related problems.

Associated Assessment Criteria for Exit Level Outcome 6

• Argue any ethical concerns brought about by dubious accounting and tax practices.
• Identify, argue and respond to any ethical concerns arising from Chartered Accountancy practice, including assurance practice, as well as from corporate governance practices.
• Recommend creative responses with regards to the responsible financial management of a company and its assets within its strategic aims.

Associated Assessment Criteria for Exit Level Outcome 7

• Recommend appropriate solutions or actions in response to unfamiliar, complex or uncertain accountancy problems or decisions within the context of the company as well as the context of the environment.

Associated Assessment Criteria for Exit Level Outcome 8

• Act, lead, work and communicate in a manner that resembles a professional accountant, auditor, tax specialist, management accountant or financial manager.
• Focus on effective interaction with peers and other role-players in the accountancy environment.

Associated Assessment Criteria for Exit Level Outcome 9

• Effectively work as a team by engaging in and leading group work assignments.

Associated Assessment Criteria for Exit Level Outcome 10

• Select or develop an appropriate mix of learning strategies and apply them in a self-critical manner to sustain or enhance independent learning and academic and professional development.

Associated Assessment Criteria for Exit Level Outcome 11

• Take full responsibility for his or her work, decision-making and use of resources, and full accountability for the decisions and actions of others where appropriate.
• Recommend creative and appropriate solutions or actions with regards to the responsible management of a company.

Integrated Assessment

All assessment instruments for the modules of this qualification will be appropriate, valid and reliable in measuring the stated qualification and module outcomes, and will be communicated to students in the study guides. All assessments will be constructively aligned to the competency requirements of the NQF Level Descriptor, in this case Level 8, and assessment criteria will also be communicated to students in the module study guides.

Opportunities for both formative and summative assessments have been planned and are embedded in the aligned teaching and learning design of the curriculum of this qualification. Assessments will include written and practical assignments, as well as written tests and examinations. Most assessments will be based on real or hypothetical case studies simulating real-life accountancy and business practice, to prepare students for the professional-level qualifying examinations of SAICA. Students will be assessed on the application of learnt skills in order to assure that theory, concepts, principles and techniques evolve into effective practice. Marks will also be allocated for professional and effective written communication skills.

An integrated set of assessment activities will ensure that the main outcomes and key purpose of the qualification are realised. Throughout teaching and learning activities students' knowledge, practical skills, problem-solving skills, attitudes and professional ethical behaviour will be interactively monitored and assessed.

In addition to the above, integrated assessment is further enhanced by the inclusion of a simulated initial test of competence (ITC) (2 papers in June and 4 papers in September), which simulates the SAICA Chartered Accountant's qualifying examination, in the assessment activities for the qualification. This assessment opportunity integrates all four subject disciplines (represented by the four modules) into one integrated set of exams.