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Calling students in KZN who would like to work at municipalities as chartered accountants – An initiative of KZN Treasury and the TBF

Last Updated Aug 2013

Johannesburg, Tuesday, 30 July 2013 – The KZN Treasury together with the Thuthuka Bursary Fund (TBF) is offering bursaries to qualifying African and Coloured Grade 12 learners in KwaZulu-Natal province who wish to pursue a career as a Chartered Accountant South Africa [CA(SA)] but do not have the financial resources to do so.

Students who passed their finance and accounting-related studies at a school level need to be recruited from all 61 municipal areas in KwaZulu-Natal to study towards Chartered Accountancy at various tertiary institutions. Upon completion of their tertiary studies, they will be deployed to their respective municipal areas (from where they will have been recruited) to serve in financial management positions. This is an opportunity for students to study towards becoming chartered accountants to serve the communities where they come from.

The main objective of this initiative is to improve the financial management capacity at municipal level. This will certainly enable municipalities to better manage their budgets and, consequently, achieve clean audit reports.

Aspiring CA(SA) students must have achieved outstanding Grade 11 results and should have a minimum of 60% in in core mathematics (5 or above on the NSC scale of Achievement), not maths literacy. The closing date for applications is 16 August 2013.

According to Nthato Selebi, Project Director of SAICA’s Thuthuka Bursary Fund, the scholarship model is unique and comprehensive as it also addresses the student's broader lifestyle and needs.

“This is not just money paid over to the students. When a TBF student gets to a SAICA accredited university they will be covered for textbooks, their accommodation in residence and meals. TBF students are also given extra classes, tutorials, mentoring by student’s that are ahead of them, life skills training, workplace readiness and any other non-academic support they might need on their path to becoming a CA(SA),” explains Selebi, adding that is about changing someone’s life.

Thuthuka is a holistic programme designed to nurture promising  African and Coloured students from high school, through university, their workplace training and, ultimately, to prepare them for their qualifying examinations towards becoming CAs(SA).

The country remains with a shortage of over 5 000 CAs(SA) professionals, with the public sector faced with a vacancy rate of over 40% in the financial fields. According to the Auditor-General’s report of 2012, “55% of municipalities received either financially qualified and adverse opinions or disclaimers, and 13% of municipalities did not submit financial statements in time for auditing.” The KZN Treasury has taken a decisive step to addressing this problem with this initiative and has decided to offer these bursaries to deserving students in the province within the 61 municipal areas.

Selection criteria

  • The learner must be a South African Citizen
  • The learner must be African or Coloured
  • The learner must obtain at least 60% on Mathematics (5 or above on the NSC Scale of Achievement) NOT Maths Literacy
  • The learner must be in Grade 12, intending on studying B Comm. Accounting

If learners have the necessary competencies and are talented in Mathematics, they are encouraged to apply for a bursary.

Where and how do you access the Thuthuka Bursary Fund?

  • Learners can phone 08610 SAICA (72422) and ask for the Thuthuka Bursary Fund application form to be sent to them.
  • They can email patiencep@saica.co.za
  • They can write to:
  • KZN TREASURY / TBF, PO Box 59875, Kengray, 2100

Those who have access to the internet can visit the SAICA website on www.saica.co.za  and follow the Thuthuka link.

ABOUT SAICA
The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The Institute provides a wide range of support services to more than 30 000 members who are Chartered Accountants and hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in their spheres of business operation. Most of these members operate in commerce and industry, and play a significant role in the nation’s highly dynamic business sector and economic development.

SAICA serves the interests not only of the Chartered Accountancy profession, but also of society in general through its key objective of upholding professional standards and integrity. The pre-eminence of South African Chartered Accountants [CAs(SA)] nationally and internationally attests to the successes achieved by SAICA on a broad global canvas. SAICA’s members enjoy the privilege of using the highly regarded and prestigious CA(SA) designation. Members of SAICA are subjected to a Code of Professional Conduct, which provides guidelines for ethical and professional behaviour. Fundamental ethical principles to which CAs(SA) are expected to achieve include:

  • Integrity;
  • Objectivity;
  • Professional Competence and Due Care;
  • Confidentiality; and
  • Professional Behaviour.

SAICA members serve on international accounting bodies including; the Trustees of the International Financial Reporting (IFRS) Foundation, the International Accounting Standards Board (IASB), the IFRS Interpretations Committee, the IFRS Advisory Council and the Council of the International Federation of Accountants (IFAC). SAICA is also a member of The Global Accounting Alliance (GAA). 
For more information visit www.saica.co.za

About the Thuthuka Bursary Fund and Thuthuka Education Upliftment Project:
One of SAICA’s prime goals is to strengthen the country’s economy by playing a significant and leading role in transformation and skills development. The Thuthuka Education Upliftment Project, a pioneering initiative to promote transformation in the profession, was launched in the Eastern Cape in 2002 and is fast growing into a national project. Thuthuka’s objective is to transform the demographics of the profession to reflect those of the country in terms of race and gender, and provide educational support to African learners and students for the benefit of the profession while simultaneously helping to uplift communities. Therefore, SAICA prides itself in leading the chartered accountancy profession as a socially responsible driver of business and skills development by supporting and encouraging enterprise development initiatives.

SAICA Media Contacts

Yuven Gounden
Project Manager: Transformation and Growth SAICA Communications & Marketing Division
Tel: 011 621 6621
Email: yuveng@saica.co.za

Nkolola Halwindi
Project Director: Communication
SAICA Communications & Marketing Division
Tel: 011 621 6713
Email: NkololaH@saica.co.za