Why the need to develop scarce accounting skills is abundantly clear

Without quality oversight, output suffers.

Without transparency, deception thrives. Misinformation and misinterpretation are promulgated to become the norm as fiction becomes indistinguishable from fact. In a developing country such as South Africa that face a multitude of challenges, this cannot be allowed.

An example thereof is an economy that is increasingly struggling to awake from a prolonged slumber caused by the Covid-19 pandemic, rolling blackouts and widespread corruption in institutions fundamental to the health of the country.

For North-West University (NWU), this means that developing scarce skills has long since no longer been seen as an optional component that forms part of a grander solution to the country’s woes, but an indispensable one that is being prioritised.

“South Africa is in desperate need of scarce skills that are crucial to our socio-economic development. These include finance-related skills such as those provided by accountants. As a country, we have made enormous strides to lessen income inequality gaps and promote sustainable business and entrepreneurial opportunities in all sectors of society, but there are still too many chances for growth going to waste” explains Heleen Janse van Vuuren, the director of the School of Accounting Sciences at the NWU’s Faculty of Economic and Management Sciences.

Only the best will suffice, and in this regard, the School of Accounting Sciences at the NWU has once again distinguished itself as an indisputable leader in its field with the recent announcement by the South African Institute of Chartered Accountants (Saica) that the school’s bachelor of commerce in financial accountancy has been accredited for the purposes of Saica’s associate general accountant designation.

The NWU received this accreditation from Saica in 2023, with the accredited programmes being the bachelor of commerce in financial accountancy and the extended bachelor of commerce in financial accountancy. Moreover, the NWU is the only university in the country that offers a forensic accountancy degree, which is a crucial tool that helps to detect, prevent, and investigate commercial crimes.

“We have to prioritise the development of expertise that will benefit the country as much as possible. Chartered, forensic and other professional accountants ensure that accountability, effective risk management and the maintenance of the integrity of businesses and financial institutions are kept in the spotlight.

“Without that, the opportunity for capacity building and sustainable job opportunities go to waste. How can we be seen as an attractive foreign investment opportunity if our own house isn’t in order? This is why the country needs accountants of the highest quality, and that is why the NWU is dedicated to producing them,” says Janse van Vuuren.

“Through honesty and integrity we can help balance equations that are skewed in favour of practices that are promoting the well-being of all South Africans.

“Opportunities are scarce commodities, and it is accountants’ responsibility to ensure that they are used, not misused,” she says. – IOL