If you are considering a career as a Chartered Accountant (CA) in South Africa, you have made an excellent choice. CA's are highly sought-after professionals with a variety of career options available to them. However, becoming a CA is not an easy process, and it requires dedication and hard work. In this article, we will discuss how to become a CA in South Africa, including the educational requirements, the practical experience needed, and the exams that you must pass.
Requirements for becoming a CA
To become a CA in South Africa, you must first obtain a Bachelor's degree in accounting or a related field from a recognized tertiary institution. Some of the recognized institutions include the University of Cape Town, the University of Pretoria, and the University of Witwatersrand. Other institutions that offer the required degree include the University of Johannesburg, the University of South Africa, and the University of KwaZulu-Natal. The degree must be accredited by the South African Institute of Chartered Accountants (SAICA).
Once you have completed your degree, you will need to complete a training contract with a registered training office. During your training contract, you will receive practical work experience in accounting and related fields. This training typically lasts for three years, and you will need to complete it with a registered training office that is accredited by SAICA.
Exams to become a CA
After completing your training contract, you will need to pass a series of exams to become a CA. These exams are administered by SAICA and are known as the Initial Test of Competence (ITC) and the Assessment of Professional Competence (APC). The ITC is typically written in January or June of each year, and the APC is written in November of each year.
The ITC is a computer-based multiple-choice exam that tests your knowledge of accounting principles, auditing, and taxation. The exam lasts for three hours and is written in one sitting. To pass the ITC, you must score a minimum of 50% in each section of the exam and 60% overall.
The APC is a three-day assessment that tests your ability to apply accounting principles to real-world scenarios. The assessment includes a case study and a presentation, and it is designed to test your technical and professional skills. To pass the APC, you must score a minimum of 50% in each section of the assessment and 60% overall.
Conclusion
Becoming a CA in South Africa is a challenging but rewarding process. The educational requirements, practical experience, and exams can be difficult, but the end result is a highly respected and well-compensated profession. If you are considering a career as a CA, make sure that you are prepared to make the necessary sacrifices and put in the hard work required to achieve your goal.
