IRBA Newsletter Issue 53

EDUCATION & TRANSFORMATION cont.

Quarter 4 Transformation Activities

COLLECTIVE EDUCATION CHALLENGES During the quarter under review, the education sector in general experienced several challenges. At the beginning of the academic year for universities, we once again had student protests due to a lack of funding. Overall, the situation has restricted graduates from pursuing or starting on their chosen career paths, which include accounting and auditing. Inaddition, wemarkeda year sincegovernment introduced lockdown measures that have had a devastating impact on education at all levels. There have been challenges in terms of access to online learning and working-from-home arrangements as well as concerns about mental well-being and general socioeconomic issues. Furthermore, a grave concern for the IRBA has been the continuous decline of the exam results of students and trainees in the pipeline. The lower pass rates mean that there are less trainees that can access the ADP, potentially minimising the RA pipeline. Also, the race differential in these results creates a deeper concern in terms of the transformation of the RA profession. As a collective, we all need to remember that we are all responsible for this pipeline. We are the decision-makers and key role-players in the career paths of these students and trainees. So, what will you do to make a difference?

Proficiency Interviews Proficiency interviews may be performed as part of the RA registration process. Due to the pandemic and the resultant lockdown, the interviews have been conducted virtually. Below is a summary of the outcome of the 60 proficiency interviews that took place during the financial year ended 31 March 2021.

Interview Period

Nadine Kater Director Education and Transformation Telephone: (087) 940-8800 E-mail: edutrain@irba.co.za

CPD and Audit Experience Required

Registered

Candidates

Total Number

of Candidates

CPD Required

Q1 - 30 June

15

5

5

5

Q2 - 30 September

21

8

8

5

Q3 - 31 December

6

3

2

1

Q4 - 31 March

18

5

8

5

Total

60

21

23

16

% Total

100% 35% 38% 27%

It has been found that it is imperative for applicants to be more prepared for their RA registration, and that this should incorporate relevant Continuing Professional Development and audit experience, to develop and maintain the required competence. It is also important that all applicants reflect on their individual competence, regardless of their firm size, without significant reliance on the firm’s additional support.

Issue 53 | January-March 2021 24