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Central University of Technology: The first in SA to offer new accounting degree

The South African Institute of Chartered Accountants (SAICA) is pleased to announce that Central University of Technology, Free State (CUT), is the first institution in the country to offer a specific degree for students who want to become Associate General Accountant [AGA(SA)].
Central University of Technology: The first in SA to offer new accounting degree

The business world is becoming increasingly complex due to accelerated changes. To survive the challenges that come with these changes, many organisations, both private and public, see great opportunity for professionalising all staff within the finance and accounting teams who are tasked with supervising their organisations day-to-day finances by creating fit-for-purpose finance teams to ensure that they have reliable financial reporting and accounting practices and controls in place. That’s where SAICA’s mid-tier AGA(SA) designation comes in.

As valuable members of any company’s financial team, AGAs have a broad, future-focused, multi-disciplinary approach that enables them to enhance and measure organisational value and drive operational performance. As a member of a professional body they are required to comply with the SAICA Code of Professional Conduct and act ethically as well as undertake ongoing and relevant learning activities that contribute towards their ongoing professional competence.

The primary role of an AGA is to enhance, drive and measure organisational value. They are a valuable addition to any company’s financial team, but up until recently, those who wanted to apply to be an AGA(SA), could only do so if they had:
  1. Completed a SAICA CA(SA) accredited undergraduate degree, and had successfully completed a SAICA training contract, or
  2. Four years’ of relevant work experience and had successfully completed SAICA's Training Equivalence Assessment.
Now, there’s a new route to becoming an AGA(SA) – through the SAICA AGA(SA)-accredited Bachelor of Management Sciences in Accountancy and the Bachelor of Management Sciences In Internal Auditing offered by the CUT. The effective date of accreditation will apply to all students who first enrol for this four-year programme in January 2021.

"In its role in addressing South Africa’s scarce-skills shortage (of which Government has identified accounting as one of the critical skills needed to be developed), one of SAICA’s key roles is to accredit programmes which enable students access to SAICA’s various qualification routes," says Mandi Olivier, Senior Executive in SAICA’s Pre-Qualification Professional Development department.

"For programmes to be accredited by SAICA, higher education providers undergo a rigorous and extensive process to ensure that their programme has the necessary resources in place to deliver a high-quality programme leading to a AGA(SA) qualification. These quality assurance processes are undertaken in addition to the formal regulatory accreditation requirements of the DHET, CHE and SAQA which need to be in place before getting the SAICA stamp of approval. Having undergone the formal accreditation process, we are confident that the CUT’s degree is backed by the necessary resources to meet the standards set by SAICA. On behalf of the institution, we congratulate the CUT team on this achievement."

Explains Dr Léandi Steenkamp, Head of Department: Accounting and Auditing at CUT: “The accreditation, which is expected to have an intake of 100 students at CUT’s Bloemfontein campus and 40 students at its Welkom campus, becomes effective in respect of students who first enrol for this four-year programme in January 2021. The Department is looking forward to this newly-established relationship with SAICA, which will be to the benefit of our students and stakeholders."

Student who wish to apply for this course can find full details at https://www.cut.ac.za/application-process.

SAICA
The South African Institute of Chartered Accountants (SAICA) is the professional home of Chartered Accountants [CAs(SA)] who are leaders in business, government and the communities they serve.

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