In the August 2021 edition of Accountancy South Africa, newsletter of The South African Institute of Chartered Accountants (SAICA), SAICA announced that 2 507 candidates who had written the first 2021 sitting of the Initial Test of Competence (ITC) in April had passed.
The ITC is the first of two professional qualifying examinations university graduates must pass to become CAs(SA). Annually, there are two sittings of the ITC. The ITC assesses a candidate's ability to evaluate the underlying problems in scenarios and, through critical thinking, applies the theoretical knowledge they have gained through the academic programme.
The top 10 candidates all passed the exam with honours (75% or more). Amongst the top 10 were five candidates from Stellenbosch University:
- Hanne Mertens (1st): For more information on Hanne's extraordinary achievement, click here.
- Sadiyah Wahab (6th)
- Cameron Rencken (8th)
- Cayley Tarr (9th)
- Stefano Filippi (10th).
The following is an excerpt from the article ITC candidates prove their mettle in the face of COVID-19's challenges (in Accountancy South Africa of August 2021):
SADIYAH WAHAB, 22
Training office: Stellenbosch University
Position: Academic trainee
What inspired you to become one of the Top 10?
I was once told that you should aim for the moon so that if you fall, you land among the stars. I put my all into everything I set my mind to, and ITC was no different. What kept me motivated was knowing that the consistent hard work and sacrifice would pay off once I received the CA(SA) designation and the prestige that come with it.
The challenges and advantages of studying during lockdown? Lockdown became quite lonely and repetitive − wake up, study, eat and repeat. I found that I was focused more on surviving the situation rather than thriving, making it quite easy to feel stuck and unmotivated. However, lockdown had more advantages for me as a student, since CTA demands so much of you. The only thing to do was study since there was nothing much else you could do. I could work at my own pace, watch my lectures from the comfort of my room and re-watch lectures when I missed something. It also helped me learn to adapt to new circumstances and pursue new hobbies.
To which factors do you credit your ITC achievement?
All the time and energy I put into this journey, resilience and always seeking guidance in everything that surrounds me, from my religion to my family and friends.
Your training experience so far?
It has provided me with the opportunity to sharpen my technical knowledge and adapt to dynamic circumstances such as lecturing in person or online (and mastering the relevant technology).
Why did you choose the CA(SA) route?
'CA(SA)' commands respect; it conveys a person's commitment to something more than just academic excellence, it signifies hard work, dedication and resilience – qualities I would like to possess. Your definition of integrity? It goes beyond being truthful and honest: it encompasses empathy, honour, staying headstrong/ steadfast in your beliefs even when nobody is watching, courage and, most importantly, selflessness.
Some of your career highlights?
Obtaining a cum laude in my undergraduate and postgraduate degrees, spending one of the three years of articles as an academic trainee, and achieving honours in the ITC.
CAMERON RENCKEN, 22
Training office: PwC
Position: Trainee
What inspired your Top 10 achievement?
I always try to give my best and therefore just applied that throughout my preparation for these exams.
The disadvantages of studying during lockdown?
It wasn't so much the 'studying' during lockdown that was challenging, but rather the times not studying as we could not do the usual everyday tasks and social events that help so much to stay refreshed and give a much-needed break from work.
Factors to which you credit your achievement?
The biggest factor would be consistent work throughout my studies to try and grasp the underlying concepts and ideas to ensure and allow me to apply it to situations that were new or unfamiliar. Your advice for those preparing for the next ITC exams?
You have studied for a number or years and written multiple exams on all the different topics – and therefore the main thing is to back yourself because you know much more than you think.
Your training experience so far at PwC?
It has been awesome. The training and guidance I have received from the firm has made the transition easy and will stand me in good stead for the rest of my first year and the years to come.
The importance of having a support structure during exams?
My support structure has definitely been my family. I think the best support has just them being there in the none work times to chat to, to do stuff with, have meals with and relax with – just being there to take your mind off studies and again to ensure we are refreshed for when we do work.
Why did you choose the CA(SA) route?
The CA(SA) profession has always been held in high regard both locally and internationally. It is recognised by many people as a respectable designation. Personally, I think that it offers a holistic and well-rounded business education and that the articles programme allows the opportunity to learn about the various aspects of multiple different businesses in a variety of industries.
Your definition of integrity?
For me, integrity is quite simple. It comprises two parts: doing the right thing even if it is unpopular or against that which may benefit oneself, and doing the right thing even when no one is watching.
CAYLEY TARR, 22
Training office: Deloitte Cape Town
Position: Audit assistant trainee
What inspired you to become one of the Top 10?
I always aim to do my best in my studies; being in the Top 10 was a bonus.
Challenges and advantages of studying during lockdown?
The greatest challenge was that there was no peer learning. It's also very lonely to study by oneself, which impacted my motivation. The advantage was being able to work at a pace that suited me. I could spend longer on more difficult topics and move faster through easier topics.
To which factors do you credit your ITC achievement?
Consistent work over a longer period rather than hard work in a short space of time.
Your advice for those preparing for the ITC exams?
Take breaks from work and do things that you love − being burnt out will get you nowhere.
Your training experience at Deloitte?
The team is friendly and understands the importance of coaching, which has made my first six months a very positive, worthwhile experience.
The importance of a support structure during exam preparations?
It is important for my mental space to be around people I can talk to during a difficult time, or even just to get out of the house with. The build-up to these exams was long and stressful, with COVID-19 making everyone more worried. Having a support system was pivotal to my success.
Your cheerleaders?
My close friends and family.
Why did you choose the CA(SA) route?
Being a CA(SA) opens many doors. The road to becoming a CA(SA) teaches one a lot about business but also about the soft skills required to maintain good business relationships and apply one's knowledge in different scenarios. Chartered accountants are well-rounded, smart-thinking business leaders, and are integral to the lives of companies.
Your definition of integrity?
Integrity is being honest and living one's values, but, most importantly, acting in a way that positively impacts society as a whole.
Your career highlights?
Being able to sign off on a small component audit that I had completed all by myself. This signified all that I have learnt in the past six months.
STEF FILIPPI, 25
Training office: Deloitte
Position: Audit trainee
What inspired you to become one of the Top 10?
I have been blessed with a talent for accounting and this has inspired me to work hard and grow that talent. Furthermore, my enjoyment of accounting has driven my motivation to push academic limits.
What were the challenges and advantages of studying during lockdown?
I could manage my time effectively which allowed for efficient studying. I also had a designated study area which allowed me to intensify my level of focus. I strive to keep a balanced lifestyle but unfortunately lockdown caused an imbalance in this regard and I had to adapt accordingly.
To which factors do you credit your ITC achievement?
My conscious effort of striking a balance between the various facets of my life. Furthermore, I find accounting very interesting, which makes learning easier.
Your advice for those preparing for the ITC exams?
Ensure that a good lifestyle balance is created and maintained. Work hard when you feel that you are most effective so that you get the most out of your study sessions. Lastly, actively search for topics within the curriculum which you find interesting to make studying more enjoyable for yourself.
Your training experience at Deloitte?
I have thoroughly enjoyed my experience thus far. I have been exposed to various clients and learned a lot about how companies in different industries operate. I look forward to what the future holds at Deloitte!
The importance of a support structure during exam preparations?
It is vital as the pressure is immense and it can create a significant burden to carry alone. My support structure is my awesome wife who has been with me for the last eight years.
Why did you choose the CA(SA) route?
The CA(SA) is the pinnacle financial designation and in high demand locally and globally. South African education and training standards are particularly high and challenging in comparison to the rest of the world, giving CAs(SA) an edge. Holding a CA(SA) title requires a lot of sacrifice, dedication and hard work and it is because of this that the chartered accounting profession is regarded as premier.
Some of your career highlights?
• BAcc LLB (cum laude) at the University of Stellenbosch
• BAcc Honours (cum laude) at the University of Stellenbosch
• ITC Top 10
