Auditor, Chartered Accountant

Chartered accountants are responsible for the preparation and reporting of financial statements for presentation to the public. They can also act as consultants on financial matters, taxation and estate planning. An auditor would attest on the reasonableness and accuracy of the annual financial statements of companies.

After carrying out procedures to verify the completeness, accuracy, existence and valuation of a company’s assets and liabilities, an audit opinion is reflected in an audit report, issued to the shareholders of the company. The auditor has to be registered as a chartered accountant.

Job Characteristics

• Preparing and certifying financial statements for presentation to management, shareholders and statutory or other bodies.



• Preparing tax returns, advising on taxation problems and contesting disputed claims before tax officials.



• Providing professional financial advice to clients.



• Examining books and records of clients, and considering the adequacy of the controls over the safekeeping of the client’s assets.



• Investigating accounting methods adopted by clients, making recommendations for improvement, etc..



• Acting as executor, trustee, liquidator or curator, as legal training forms part of their course.



• Carrying out audit procedures to verify the completeness, accuracy, existence and valuation of assets and liabilities of enterprises.



• Carrying out special assignment’s requested by clients, such as valuations and fraud investigations.



• Performing accounting services to enterprises which cannot employ their own accountant.

Requirements
 
Secondary Education
Possession of at least a HIGCSE Grade 12, or equivalent qualification, with matriculation exemption is required to be admitted to a university in South Africa. Generally good mark in all subjects are required.
 
Compulsory subjects
Mathematics, Accounting - Auditor (South Africa)
Mathematics - Chartered Accountant (South Africa)

Recommended subjects
Accounting, Economics, Business Studies -
Chartered Accountant (South Africa).
 
Tertiary Education
The training of a chartered accountant is divided in an academic and a practical phase. The academic training comprise of four to five years’ full-time study during which the following qualifications can be obtained:

A three-year B. degree in Accounting, followed by a B. Com. Acc. (Hons.), can be completed at South African universities. Candidates can also enrol for the four-year B. Acc. degree offered by UNAM. After completion of the above-mentioned degree, candidates have to complete the CTA (Certificate of Theory and Accountancy). The CTA takes one to two years to complete, and can only be obtained from South African universities on a correspondence basis.
 
In addition to the academic requirements outlined above a prescribed period of three years on-the-job training with a firm of chartered accountants has to be completed by candidates. For candidates who prefer studying part-time, the training period is five years, including practical and theoretical training. Upon successful completion of both the academic and practical training, registration with the Institute of Chartered Accountants is possible.

Personality
The prospective chartered accountant should possess integrity, sound judgment and have an above-average interest and aptitude for working with figures.

Work Opportunities
Auditors and chartered accountants can be employed by auditing firms as well as by the general commercial industry. Self-employment is a possibility after sufficient experience has been gained. Job prospects seem favourable.

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