IRBA Newsletter 25

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Transformation
The IRBA’s continuous efforts to
support transformation of the
profession are realising results and
it is encouraging to note that the
total number of Black candidates
(African, Coloured and Indian)
who enter the PPE has increased
steadily from 1093 in 2009 to 1493
in 2013. This is the first time in the
history of the PPE that the number
of Black candidates who attempted
the PPE represents over 50% of the
candidates.
The IRBA is also delighted at
the throughput rates for Black
candidates. Of the 1493 Black
candidates that entered the 2013
PPE, 1041 passed, resulting in an
overall pass rate of 70%.
The IRBA is particularly pleased to
announce the results of the 2013
IRBA Support Programme. The IRBA
has presented a support programme
for Black repeat candidates on an
annual basis for the past 12 years.
In 2013, Fasset (the Seta for finance,
accounting, management consulting
and other financial services) once
again provided the IRBA with
funding for the Support Programme.
The candidates who attended the
Support Programme again achieved
better results on each question than
those repeat candidates who did
not attend the IRBA’s programme.
Of the 107 Black candidates
who successfully completed the
programme 64 passed, representing
a pass rate of 60%. Of the 233
Black repeat candidates who did not
attend the IRBA Support Programme
125 passed, representing a pass rate
of 54%.
The examination objective
The statutory auditor performs a
very responsible function and the
IRBA has a duty to ensure that only
those who have demonstrated an
appropriate degree of professional
competence are registered as
auditors. The examination, which
aims to assess professional
competence, takes the form of
two 2½ hour written assessments
consisting of two scenarios reflecting
the public practice environment.
Candidates must demonstrate an
ability to solve multi-disciplinary
practical problems in an integrated
manner and to do so must analyse
and interpret information and
provide viable solutions to address
specific client needs. The ability to
demonstrate logical thought and
exercise professional judgement is
an integral part of the examination.
Admission requirements
Admission requirements to the
PPE are challenging, requiring
completion of recognised academic
and education programmes. In
addition, entrants must also have
passed SAICA’s Initial Test of
Competence (ITC). Completion of
the academic component under a
full-time study programme ordinarily
takes at least four years. Given the
practical focus of the assessment,
candidates are required to have
served at least 18 months of a
registered training contract in the
service of a Registered Auditor
before being admitted to write the
PPE.
The minimum total duration of a
training contract is three years,
which usually follows the four-year
period of full-time study. The period
of qualification for most students is
therefore at least seven years. The
IRBA believes that this is in keeping
with its duty to ensure that standards
at entry point are maintained and
that only those who are able to meet
prescribed competency standards
are registered as auditors. The
qualification period is similar to that
of other highly regarded professions
and internationally recognised
accounting bodies.
The end of an era
The 2013 PPE represents the closing
of a chapter for the IRBA. The PPE
in its current format was written for
the last time by first time candidates
in 2013. One more sitting of the PPE
will be hosted in 2014 for repeat
candidates. From 2014 onwards,
all first time candidates are required
to write SAICA’s Assessment of
Professional Competence (APC).
Those candidates wishing to become
RAs will be required to successfully
complete the APC, register with
the IRBA as a candidate RA and
undertake a further specialisation
period. Specialist training for
candidate RAs will take a minimum
of 18 months and candidates will
be required to demonstrate their
professional competence on the job
with the submission of a portfolio of
evidence at the end of the specialism
period. Please refer to the IRBA’s
website for further information on
the Audit Development Programme
(ADP) .
In conclusion
The IRBA wishes to acknowledge
the significant contribution made by
the various education institutions,
training offices and SAICA towards
the success of the PPE over the
years. The examination has become
an internationally recognised
assessment of professional
competence and has continued to
uphold its standing both locally and
internationally.
The IRBA also extends a special
word of gratitude to the Examination
Committee members who have
worked tirelessly over the years
to ensure that the standard of the
examination has remained consistent
and that the examination continues
to be relevant for a changing
profession.
We wish to congratulate our
successful candidates on their
outstanding achievement and wish
them every success in their future
endeavours.
COntinued
pubic practice
examination 2013
Laine Katzin
Director: Education, Training &
Professional Development
Telephone: 087 940 8787
Facsimile: 087 940 8875
E-mail: