Learners
Do you want to protect the economic interest of the people of South Africa and that of international investors? Then a career as an Auditor might be just want you are looking for. Apart from good salaries, job security and international job opportunities, a career as a Registered Auditor (RA) will grant you many opportunities to serve the economic interest of the people of South Africa and that of international investors.
So what does a person who is a Registered Auditor do (RAs)?
An external auditor is an independent professional who conducts external audits of companies. An external auditor expresses an opinion on the fair presentation of companies’ financial statements.
In expressing the opinion an auditor would typically audit the accounting systems, procedures and financial statements of a company, and would evaluate the way in which the company manages corporate funding and financial risk. An auditor would also ensure that a company complies with all the legal requirements of its business and that tax payments are correct and in line with tax legislation and requirements.
So why does the country need Registered Auditors (RAs)?
Registered Auditors add credibility to the financial statements of companies
So how do I become a Registered Auditor?
Click here to view the RA qualification process
The first step in a career as an auditor is choosing Pure Maths and English and passing these subjects very well. Remember different universities have different entry requirements.
You must enrol for an Accountancy Degree that is accredited by SAICA. This degree is 3 or 4 years depending on the university. You need to complete this degree and meet the university’s requirements for entry into the Honour/CTA
This is your Honours Degree. This is a 1 year or 2 year degree depending on the university you have enrolled with. After completing your CTA you will start with your articles.
Depending on your qualification at entry into the training programme or articles, your articles could be 3, 4 or 5 years. The general three year articles will include the following:
Year 1 – Immediately after your CTA you write your first board exam. This exam is called the Initial Test of Competence (ITC). This exam is written in January and there is another opportunity in June each year.
Year 2 – In November of your second year your write your second board exam, this is called the Assessment of Professional Competence (APC).
Once you qualify as a CA. You can choose to work in many industries as an Accountant, Financial Manager or Financial Director. You can even work in other countries.
The ADP is a specialisation period after you have qualified as a CA. It takes a minimum of 18 months. You must do this period at an auditing firm that is registered with the IRBA. During this period you will gain experience in auditing at a more senior level, you will also be involved in tasks that are more complex. This means that you become a specialist as an auditor. You will be allowed to sign audit opinions only once you have successfully completed this ADP and registered with the IRBA.
You have now arrived!! Welcome to the world of Auditing.
An overview of the life of a Registered Auditor
A Specialised Chartered Accountant
Opportunities – Travelling…. Different Client…
Can work in diverse environments – Banks… Manufacturing… Mines… Government… Within the audit firms… Can open your own auditing firm… Forensic Auditing… And many, many, many more…
What is my next step?
Chose Pure Maths… Work hard… Start Reading about the auditing profession…
So what is the IRBA and what does the IRBA do?
The IRBA is a Regulatory Board regulating the Auditing Profession in South Africa. The IRBA reports to the Minister of Finance. The mandate of the IRBA by law is Public Protection. We develop the competence requirements for auditors, we write the auditing standards, we inspect the auditors to ensure that they comply with the auditing standard and we discipline auditors where they are not compliant with laws and regulations.
Can I work for the IRBA?
Once you have qualified as a Chartered Accountant or Registered Auditor. You can be a Manager in the education department… You can be an Inspector… You can be a Forensic Investigator… and many another positions