Everything to Know About Becoming a Chartered Accountant

Teboho Moephudi, had a chat with Careers Portal to talk about who SAICA are, their Thuthuka Bursary and why Chartered Accountants are so important in South Africa. Thuthuka bursary applications are now open for 2022.

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Careers Portal sat down with Teboho Moephudi from SAICA where they spoke about Bursaries, Chartered Accountant (CA) lingo & why CAs are needed in South Africa.

Moephudi is the Project Director for Thuthuka and for Universities and looks after the Thuthuka Bursary Fund.

What is SAICA?

SAICA stands for the South African Institute of Chartered Accountants and was founded in 1980. They are the foremost Accountancy body in the country and is the professional home for CAs.

Moephudi says, "Chartered accountants are leaders in business, in government, in communities that they serve."

SAICA provides a wide range of services to it's members and plays an influential role in the highly dynamic business sector. They continuously strive to develop their accountancy profession in South Africa in different ways.

Thuthuka Bursary Fund

This bursary fund looks to increase the number of African and Coloured CAs in the country. They want to make sure that SAICA's presence is felt within the University space and that more students know about the CA profession.

Applications are currently open and will close on 31 August. 

The bursary covers financial and non-financial support and will pay for tuition, accommodation, books, meals, living and will also receive funding every year that they pass.

RELATED: Thuthuka Bursary Applications Open for 2022

It takes 7 years to become a CA and the Thuthuka bursary will help you pass by providing additional academic and mental health support.

Chartered Accountant Lingo You Should Know

Chartered Accountant: Also known as a CA(SA). A CA would be a top-tier qualification at NQF Level 8. CAs are business professionals that have financial expertise as well as broad business insight. They use their deep understanding of complex financial, technical and operational concepts to shape the strategic direction of organisations and they often create long-term value.

Associate General Accountant: Also known as AG(SA). They would have a mid-tier qualification and play key managerial roles within diverse sectors of the economy. AG(SA)s are professionals who have successfully completed their SAICA training contract and offer a strong set of technical and financial skills. Generally technically minded.

Accountant Technician: They are the heartbeat of every organisation and are involved in the practical day-to-day work. They prepare and produce reliable information that enable businesses and leaders to make informed decisions. 

Why do we need Chartered Accountants in South Africa?

Moephudi says that the CA skill is on the scarce skills list in the country and are trained to support corporate decision making through analytical and data driven insights.

She continued to say, "Such skills and scarcities will serve as a critical lifeline for businesses who are trying to successfully navigate uncharted waters".

They give advice based on facts and forecasts which will allow businesses to adapt, remain relevant and to be profitable.

"The road to becoming a Chartered Accountant is long but is so worth it ... A qualified CA can enter into any industry"

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