Accountancy@UJ

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1 MESSAGE FROM THE HOD 2 STAFF MATTERS A top class finish Accountancy@UJ lecturer runs the Paris Marathon Prof Alex van der Watt wins VCs Distinguished Teacher Excellence Award for 2012 Prof Danie Coetsee appointed to influence the development of IFRS 4 OUR STUDENTS STAND OUT FROM THE CROWD Alumni student excels in IRBA PPE exams Kate Dunjane wins Miss UJ APK Student wins Nedbank CA training programme challenge Accountancy@UJ student competes in KPMG International Case Competition 6 GIVING BACK TO THE COMMUNITY Doing our share Mandela Day Abraham Kriel Florida Baby House Santa Claus comes to town Shoebox Collection 9 LEADERS IN ACCOUNTING EDUCATION Mainstream Accounting Honours masked ball Accountancy@UJ introduces a new degree The 2012 QE results CTA year end function and results MCom top achievers announced 12 TRANSFORMATION Thuthuka Programme at the University of Johannesburg ABASA Student Chapter Launch Women in Workplace Research Report Keeping South Africas female CAs in public practice: Part One the impact of job demands 14 SOCIAL EVENTS Accountancy@UJ racing team wins Carting Day at Kyalami Accountancy@UJ Chess Open 2012 Golf days Team Building 2012 17 VALUE ADDED RESEARCH BDO Sponsors UJ Accounting studies Thought Leadership project World Economic History Congress Accountancy@UJs collaboration with JSE Research Output 21 INTERESTING READS The changing landscape of adult learning

IN THIS EDITION

MESSAGE FROM THE HOD

2012 was another exciting year for the Department of Accountancy at UJ during which we once again confirmed ourselves as one of the leading Departments of Accountancy in South Africa. I want to highlight three specific areas in which the department made significant contributions and advancements during the year. These include the development of skills for the accountancy profession, the departments contribution to the transformation of the accountancy profession in South Africa and thirdly how we as a department managed to add value through research and scholarly activity. This newsletter contains details on all of the exciting activities that took place during the year in each of these areas. With regard to skills development, a great amount of effort and attention was placed on ensuring that we deliver students of exceptional professional quality with the correct skill set as required by the market. This was achieved through on-going reflection and a series of detailed programme reviews. This included a review of our BCom Accounting programme. We have effected some significant changes to improve this programme, which will apply at the start of the 2014 academic year. 2012 was also the introductory year of our new BAcc degree, a degree that is specifically developed based on the requirements of the competency framework of the South African Institute of Chartered Accountants (SAICA). The UJ Department of Accountancy once again exceeded expectations in all of the key performance areas for the 2012 CA Qualifying Exam (QE). I would like to make

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Who said accountants are boring?

STAFF MATTERS
We remain committed to teaching and learning excellence and creating opportunities for growth and development for our talented pool of staff members. Our department employs lecturers who boast an infectious passion for their task as educators. Accountancy@UJ runs a campaign called: Who said accountants are boring? Our staffs involvement in a variety of challenging activities throughout 2012 gives testament to the fact that our accountants are anything but boring. We are extremely proud of all of our staff members for their achievements both on and off campus. Here are some of the highlights of 2012:

A top class finish

A number of staff members of the Department of Accountancy at UJ obtained their masters degrees during the course of 2012. A special word of congratulations goes to two of our senior lecturers, Mr Jonathan Streng and Ms Marybeth Rouse, who completed their MComs in International Accounting CUM LAUDE. Left: Marybeth Rouse graduates cum laude Right: Jonathan Streng with his MCom degree in International Accounting cum laude
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specific mention of a few of the highlights of this past years results. We managed to achieve a pass rate of 85%, and once again are able to boast having students from our department in the top ten. In addition to this we still remain one of the biggest contributors of successful QE candidates in terms of absolute numbers. With regard to transformation of the accountancy profession, we are once again proud of the fact that we were the biggest residential provider of successful black candidates in the SA 2012 QE exam of SAICA. During 2012, our department continued to provide assistance to the University of Limpopo, helping them in their efforts to establish academic leadership in all their disciplines. We also continued to add value to our research over [ 2] Accountancy@UJ News Highlights

the year. Further details on our accredited research output as well as details of the various research areas that our staff members are involved in are provided in the research section of this newsletter. 2013 promises to be another prosperous and eventfilled year for the department. We are nearing the completion of the SAICA history project, which should be completed during the course of this year, and we are excited about the outcome. We as a department will continue to assist the JSE with their monitoring project in 2013. We once again are able to boast a highly passionate and committed team of staff members. Several of our staff members obtained their masters degrees during this past year and a number are nearing the completion

of their degrees and will obtain their qualifications in 2013. We are extremely proud of their achievements. The Department of Accountancy remains an employer of choice, as evidenced by the overwhelming interest we received in the positions advertised in 2012. I would like to take this opportunity to thank the staff, students and key stakeholders for their involvement and contributions to making Accountancy@UJ the great department that it is. I wish all our stakeholders a prosperous 2013 and I trust that you will find the information in this newsletter interesting. Yours sincerely Alex van der Watt

Accountancy@UJ lecturer runs the Paris Marathon

Congratulations to Liezl Grosskopf, one of our senior lecturers, who ran the 42km Paris Marathon on 15 April 2012. We are extremely proud to have such enthusiastic ambassadors in our department. This type of enthusiasm radiates both in and outside the classroom, and is yet another example to our students of how passion and energy can be converted into success. We are different, in essence, from other men. If you want to win something, run 100 meters. If you want to experience something, run a marathon. Emil Zatopek Olympic Marathon Champion (1952)

Prof Danie Coetsee appointed to influence the development of IFRS

Professor Danie Coetsee CA(SA), who heads up the department of Accountancys Masters degrees programme, was appointed as a member of the Consultative Group on the Methodology for Fieldwork and Effects Analyses (The Working Group) on 13 November 2012. The Working Group is chaired by the International Accounting Standards Board (IASB), comprises members from across the globe. The group was established to analyse the effects of IFRS and to develop an agreed methodology for fieldwork and effect analyses. This will be achieved by combining the expertise of academics, the profession, preparers, standard setters and regulators. According to SAICA, The need for such a group was recognised by the IFRS Trustees, who believe that fieldwork and effect analyses are now considered best practice in the establishment of regulations. These activities form a regular part of the IASBs standardsetting activity. Professor Coetsee is a member of SAICAs Accounting Practices Committee (APC), a position he has held for the past seven years. During his role as a member of this committee, he has been involved in the evaluation and comment of the pronouncements of the IASB for use in the South African environment. He has written several books and articles on the application of IFRS and IFRS for SMEs and has contributed valuable research to the accounting profession over the years. In addition to his experience in the field of accounting theory, Professor Coetsee is involved in the Johannesburg Stock Exchanges (JSE) proactive monitoring of financial statements for compliance with IFRS. This role provides him with insights on how IFRS is implemented in listed companies in South Africa. The Department of Accountancy is extremely proud of Prof Danie for having been nominated and elected to form part of the Working Group. His experience and involvement are sure to add value to the advancement of the accounting profession and the financial regulatory environment in which it exists. Accountancy@UJ News Highlights [ 3]

Prof Alex van der Watt receives the Vice-Chancellors award for excellence in teaching

Prof Alex van der Watt wins VCs Distinguished Teacher Excellence Award for 2012
Congratulations to our HOD, Prof Alex van der Watt, who was awarded the VCs Distinguished Teacher Excellence Award for 2012 at this years Vice-Chancellors Distinguished Awards function, held on Thursday 15 November 2012. The Vice-Chancellors Awards categories are Teaching, Research and Innovation. Prof van der Watt displayed excellent teaching ability, is able to raise ethical questions and exercises creative imagination both in and outside the classroom. These qualities are in line with the teaching and learning philosophy of the University of Johannesburg (UJ). Past awardees from the Department of Accountancy, Faculty of Economic and Financial Sciences, include Prof Ben Marx and Ms Erica du Toit. The department takes pride in knowing that our teaching and learning strategy is being driven by an excellent team of lecturers who rank among the best in the country.

OUR STUDENTS STAND OUT FROM THE CROWD

As part of our departments objectives, we are committed to producing confident students who excel academically, are socially well adapted and who stand out from their peers. We recognise and encourage academic excellence and a healthy balance between work and social activities for our culturally diverse group of students. In addition to this the department remains committed to its alumni and takes great pride in the achievements of past and current students. The following students and alumni stood out from the crowd in 2012:

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Student wins Nedbank CA training programme challenge Alumni student excels in IRBA PPE exams
The 2011 Public Practice Examination (PPE) was written on 24 November 2011. Entry to the PPE is a culmination of a long and rigorous academic, training and assessment process aimed at developing the core and professional competence of prospective auditors. 2054 trainee accountants and auditors wrote the PPE exam in 2011 and, of these, 1517 passed resulting in a 74% pass rate. Ms Carri Aronson, who completed her BCom Hons (Specialisation in Chartered Accountancy) at UJ in 2009, was one of the successful candidates to have completed this last exam in the step to qualifying as a chartered accountant. In addition to having passed, Ms Aronson achieved a Top 10 position in the Public Practice Examination. Accountancy@UJ is extremely proud of Ms Anderson for this outstanding achievement. UJ student Peter Serite was awarded first prize in the Nedbank CA training programme competition that challenged students to propose a sustainable community initiative. Nedbank introduced the competition this year for final-year undergraduate accounting students with business acumen and a strong sense of social responsibility to apply their entrepreneurial skills for the benefit of others. Students across the country were required to propose a community initiative that they could implement and project manage. The top 5 finalists were hosted at Nedbank in Sandton to present their proposals to a panel of judges. The competition was a fantastic opportunity to make a difference in the community whilst also promoting some healthy competition between students from the different universities. Peters original idea of providing more suitable trolleys to men who collect recyclable waste in the south of Johannesburg impressed us, as did his incredible approach of joining the waste collection team each morning to truly understand his target recipients and their needs. Peter wins R30 000 funding for his project, an Apple iPhone 4s and a Nedbank holiday voucher. He also receives automatic acceptance into our Winter Seminar in July says Mr Robert Peche from Nedbank. For more info on the competition visit: www.nedbank. co.za/ website/content/ca/competition.asp Peter Serite

Accountancy@UJ student competes in KPMG International Case Competition

Ms Lovedelia Mutloane, a 3rd-year BCom Accounting student, was selected from over 100 top students across South Africa to compete in the KPMG International Case Competition (KICC) global finals in Hong Kong during the week of 14 April to 21 April 2012. The selection criteria required each candidate to complete a case study on a business operation of an existing company and recommend a suitable strategy to be implemented to improve on the existing business model as well as whether it can be positioned within the Japanese market. The South African team competed against students from 24 countries internationally. The KICC provided an opportunity for candidates to apply and develop their business knowledge through extensive networking and interaction with professionals and delegates from around the globe. Accountancy@UJ is very proud of Ms Mutloane for being selected to represent our University as well as South Africa at this prestigious event.
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Kate Dunjane wins Miss UJ APK

Miss Kate Dunjane (23), a BCom Hons Accounting student, specialising in Taxation, was crowned as Miss UJ APK 2012. The ceremony was held in the Sanlam Auditorium on the Auckland Park Kingsway Campus of the University of Johannesburg (UJ), on Saturday 5 May 2012. The Mr and Miss APK competition is a celebration of beauty, but also strives to spread love, peace and education. These titles involve a lot of hard work, as they will not only have to be ambassadors for the Campus and the University, but will continually be involved in charity projects, said Ms Bonnie Seseli, Student Development Practitioner, APK. Accountancy@UJ congratulates Kate, who is clearly more than just a pretty face.

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Giving back to the community

GIVING BACK TO THE COMMUNITY

The Department of Accountancy at UJ takes pride in its corporate social responsibility and in its involvement in giving back to the community in various forms. The Department encourages its students and staff to get involved in community engagement. This year a number of students and staff members took up the challenge and decided to support various charities throughout the year. This years community projects included:

Doing our share Mandela Day

In honour of Mandela Day on 18 July 2012, the Department of Accountancy collected books, food and clothing to donate to the underprivileged. A number of staff members and students spent the day at the Helen Joseph and Chris Hani Baragwanath hospitals volunteering their time and lending a helping hand to those in need. The kind hearts of those involved are a true testament to the fact that together we can make a difference.

Accountancy@UJ students and staff members doing their share on Mandela Day

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Abraham Kriel Charity drive

Academic trainees from the Department of Accountancy, together with a few students in CTA studying towards Chartered Accountancy, visited children at the Maria Kloppers campus, a division of Abraham Kriel on 5 May 2012. This home has been in existence for over 100 years and cares for children of all ages. The home cares for approximately 50 children. The children are divided into age groups and there are house mothers who care for 10 children each. Most of the children are orphans but many are in the home as their parents cannot provide financial support for them. The government currently funds 33% of their annual budget and the church funds 15%. The rest of the amount is funded through various donors and sponsors. Our trainees and students collected clothing, food, cleaning materials, toys and stationery to donate to the home in an effort to meet some of the basic needs of these children. A full day of their own time was set aside to play with the children and prepare them a special treat for lunch. Again we all realise how blessed we are for all we have. As one academic trainee said: It was the best Saturday morning ever. These children have been through so much and are so happy. A lot of people need to still learn that kind of joy. Thank you so much Maria Kloppers for the opportunity to spend time with these precious little lives.Nothing at the end of the day can replace the role that a mother and father play in a childs life. These little lives need people willing to take the time to invest in them. They are the future of this country and all they need is for someone to believe in them, inspire and love them. The homes marketing manager, Hilda Du Toit wrote, Abraham Kriel Childcare wishes to thank you for your contribution to keep our children fed, to heal them physically, emotionally and spiritually, to develop and train them and to cover them with love.With your support we can be proud of our history and look forward with renewed hope for the future of South Africas vulnerable children. Accountancy@UJ looks forward to touching the lives of many more individuals in 2013.

Giving back to the community at Abraham Kriel Accountancy@UJ News Highlights [ 7]

Florida Baby House

Five of our academic trainees visited the Florida Baby House on 1 June 2012. Through a very successful appeal to the 3rd-year students studying Bcom Accounting, they collected a number of blankets, old baby clothes, toys, nappies and food for the babies. The trainees delivered the items to the house and spent the afternoon playing with the babies and finding out about them and the home. Florida Baby House can house up to 13 babies ranging from birth to two years and has 8 fulltime child care workers plus one reliever. They are very dependent on assistance from the local communities and volunteers to help make life a little easier for these children. The home has found wonderful families who have adopted many of these babies who are given a good life and a caring family to love them and bring them up as their own. The department looks forward to visiting Florida Baby House again and helping with donations of warm clothes and food where possible and bringing some joy and special attention to these special babies who deserve to be taken care of. The academic trainees would like to thank Florida Baby House for allowing the Department of Accountancy at the University of Johannesburg to visit them and help make a difference in their lives.

Santa Claus comes to town Shoebox collection

Academic trainees getting ready to deliver the goods The Santas Shoebox is a charity initiative that was established to bring joy to the hearts of underprivileged children across the country over the festive season. Each year the Department of Accountancy takes part in this charity drive by encouraging staff to make up a shoebox for a special girl or boy, filled with toiletries, sweets, stationery and a few other basic essentials and to wrap it up with love. The response from staff and their friends and family was overwhelming. The shoeboxes were delivered to the children just in time for Santas visit to town and we are proud to say that we as a department were part of making a memorable festive season for those children.

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LEADERS IN ACCOUNTING EDUCATION

Accountancy@UJ is the second largest residential provider of CAs in South Africa. Each year our department takes pride in the results of the annual Qualifying Exam (QE). This years results give testament to the fact that our department is regarded as a leader in the education of chartered accountants and are also a testimony to the dedication and hard work of the combined efforts of all the passionate lecturers in the Department.

Accountancy@UJ introduces a new degree

Proud Honours graduates with senior lecturer, Ms Marybeth Rouse (centre)

Mainstream Accounting Honours masked ball

The Mainstream Accounting Honours annual year end function was held at the UJ hotel school on the Bunting Road campus. This years theme was a masked ball. The following top achievers were recognised at this years function: Honours in Accounting: Ms Lerato Magolela; Honours in Accounting (Internal Auditing): Ms Belinda Brandt Honours in Accounting (Taxation): Mr Daniel Dias Fellow student Ms Kate Dunjane, who was crowned Miss UJ APK Campus 2012, gave an address, congratulating the students on their achievements and thanked the UJ lecturers for their dedication. After the formal proceedings, the students enjoyed a three-course dinner and then danced the night away.

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The Department of Accountancy at UJ introduced its new Bachelors degree in Accounting (BAcc) in 2012. This full-time degree runs over three years and is offered in both English and Afrikaans. The degree was developed by the Department with the aim of offering a specialised degree that will produce graduates with a sound technical knowledge base of accounting and related topics, coupled with soft skills that result in well-rounded individuals with the potential to develop into leaders in the business world The course has been developed around the requirements of the competency framework of the South African Institute of Chartered Accountants (SAICA) This framework specifies the various competencies that are required to be met in the qualification process of becoming a Chartered Accountant. The degree is also accredited by SAICA as a degree that meets all the requirements of the professional body. The Departments HOD, Prof van der Watt, says the degree is designed to ensure that graduates are equipped with the necessary technical and soft skills they will require to become exceptional accountants. Apart from the main subjects of accounting, financial management, auditing and taxation, the course also focuses on the technical elements that are expected from a BAcc graduate. Graduates of the BAcc degree have the opportunity to register for a number of postgraduate degrees after the completion of the BAcc degree. Feedback from students has been positive thus far and the degree seems to be meeting their expectations.

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The 2012 QE Results

The results of the annual Qualifying Examination (QE) of the South African Institute of Chartered Accountants (SAICA) were released on Friday 30 March 2012. UJ contributed 12,9% of the total successful candidates, which equates to 256 candidates. This is the second-biggest contribution of all accredited residential universities. UJ also achieved an 86% pass rate for first-time candidates, which compares very well with the national first-time pass rate of 78%. The department is delighted with our results and looks forward to yet another good result in 2013. The departments performance was exceptional when the results are analysed in the context of transformation and growth. UJ is currently the biggest residential provider of African Black Chartered Accountants in South Africa. 390 African Black first-time candidates passed the 2012 qualifying examination. UJ contributed 99 candidates to this number, which equates to 25% of all the successful African Black candidates. This is simply an outstanding achievement taking into account that candidates from 13 universities wrote the examination says Prof van der Watt. Two UJ students achieved top 10 positions in the examination. Ms Tamryn Tromp was placed second, and Ms Vidette du Toit achieved the seventh position in the examination. I am very grateful to have not only passed the infamous QE1 exam, but to have placed in the top ten! This achievement is as a result of my hard work, the very competent Accounting department at UJ, and most importantly, the work of God and support from my family and friends. I am a proud supporter of this university and firmly believe it is worth its weight in gold says Tamryn Tromp. Ms Vidette du Toit says that being placed in the top 10 and passing with honours was something I never dreamed of, but now it is a reality. I have achieved a goal that I had not even set for myself. I am thankful towards all my friends and family for their motivation and support. They kept me going in tough times. It would also not have been possible without the exceptional hard work, motivation and talent of UJs lecturers. I will always be filled with gratitude towards God for helping me through tough times and for ending 4 years of hard work on such a high note. Without faith and perseverance, I would not have been where I am today.

CTA year end function and results

The Department of Accountancys lecturers and successful CTA candidates celebrated the end of an exciting and challenging CTA year at La Toscana, Montecasino, on 17 November 2012. The CTA class of 2012 was filled with bright, passionate entrepreneurs who are sure to make us proud as they venture off into the market. A special word of congratulations goes to this years top ten: 1 S Croock (Cum Laude) 2 J Steyn 3 S Bastiaanse 4 J Nkosi 5 C Staples 6 W Malebo 7 A Volschenk 8 S Badrodin 9 L Hobbes 10 F Khan Shaun Croock was awarded the prize for the best overall student as well as the top achiever prize in Auditing and Taxation, while Johann Steyn and Walter Malebo took the prizes for best achievers in Financial Management and Accounting respectively. We wish the class of 2012 all the best for the upcoming QE exam and are confident that their hard work during this past CTA year will pay off.

Academic trainees with lecturers Ahmed Haji and Jonathan Streng

Vidette du Toit

Tamryn Tromp

Andr van Wyk, Shaun Croock , Thomas Howatt (PWC) and Prof Ben Marx

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Accountancy@UJ News Highlights

Jaco Opperman with Prof Danie Coetsee

Prof Ben Marx with Izette Nel

Prof Ben Marx and Ahmed Haji The MCom Prize Giving Function took place on 21 November at the Johannesburg Country Club. Congratulations to this years prize winners. The recipients of this years prize for the top students in the coursework programme of the 2011/2012 class were: Jaco Opperman best achiever in International Accounting Bansi Nagar best achiever in Computer Auditing Willem Malherbe best achiever in SA & International Taxation. The prize for the two best achievers for the research component of the masters degrees was awarded to Izette Nel (2011) and Ahmed MohammadaliHaji (2012).

MCom top achievers announced

Michael Honeyball and Willem Malherbe

Vanessa van Dyk with Bansi Nagar

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TRANSFORMATION
The Department of Accountancy remains committed to transformation in terms of both race and gender. This year saw the launch of the first report of a series of four reports on the retention of female CAs in public practice. The ABASA Launch as well as our continued efforts on the Thuthuka programme.

ABASA Student Chapter Launch

From left Mr Bart Dorrenstein, Prof Ben Marx, Mr Mthandazo Peter Moyo, and Mr Andile Khumalo

Mr Mthandazo Peter Moyo Chairperson of Vodacom

UJ Accounting (CA Stream) students with representatives from ABASA watch a video of ABASA initiatives during the ABASA Student Chapter Launch

The ABASA Student Chapter Launch took place on the 8 March 2012. Prof Ben Marx of the Department of Accountancy attended this prestigious event as a guest speaker. The Association for the Advancement of Black Accountants of Southern Africa (ABASA) was established in 1985 to promote the interests of black men and women engaged in the accounting profession. It is committed and dedicated in this pursuit, and is driven by the need to ensure that every black accountant and aspiring accountant is able to realise his/her full potential and aspirations. The objectives of ABASA include the promotion of adult education, vocational training and technical education in the accounting profession, and to facilitate and encourage the entry of Blacks into the accounting profession by promoting their academic and professional excellence. ABASA also assists Blacks in obtaining access to accounting education and employment opportunities that will enable them to achieve their career aspirations and realise their full potential.

Women in Workplace Research Report Keeping South Africas female CAs in public practice: Part Workplace One the impact of job demands During Augustin 2012, the Women inthetheDepartment of Programme, collaboration with
Accountancy, launched the first of a series of reports on the retention of South African female CAs and trainees CAs in public practice audit, tax and advisory firms. The report is based on a recent study, conducted by the department of Accountancy and the Women in the Workplace research programme, University of Johannesburg. We investigated how job demands (job insecurity, overload, and work-family conflict) and job resources (the external prestige of a firm, team climate, organisational support, task identity, growth opportunities and advancement) made an impact on whether female CAs stay on or leave firms. The data yielded some very valuable findings which are useful to CAs, talent and line managers when considering the management of women. The remainder of the reports in this series will be released during the course of 2013 and are sure to provide some interesting reading. Watch this space. [ 12 ] Accountancy@UJ News Highlights

2nd year camp 2012

Thuthuka programme at the University of Johannesburg

During 2012 the Thuthuka Bursary Fund supported approximately 210 students at the University of Johannesburg in their CA studies. The students on the programme obtained excellent pass rates for the year. The students in the HONS (CA) group performed especially well and obtained an excellent pass rate of 73% in comparison to the class average of 61%. The University commenced with its support programme for African and Coloured students, the Equity Development Programme, ten years ago in 2002 and has achieved very good results over the past ten years. The programme provides academic and social support to the Thuthuka students. The students all live together in the Sophiatown residence. In their first year each student is assigned a mentor and regular tutorial classes are provided. Students participate in an induction programme which includes a sport day, a treasure hunt and provision of relevant life skills. Tutorial classes are presented throughout the students studies at UJ. In their 2nd year the students attend a week-end camp. The programme is coordinated by two full time staff members in the Department of Accountancy and one academic trainee. The Department of Accountancy is proud to be a contributor to the transformation of the accountancy profession in South Africa and remains committed to enhancing the support provided to future CAs through the Thuthuka programme.

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SOCIAL EVENTS
All work and no play makes for a dull department. At the Department of Accountancy we encourage our staff to interact on a social level in addition to a professional one so as to encourage an atmosphere of mutual respect and understanding in our culturally diverse environment. A number of social activities took place during the year and staff participated in a number of sporting events. The highlights included:

Thabiso Madiba, Paul Viljoen, Dewald Joubert and Jonathan Streng

Accountancy@UJ racing team wins Carting Day at Kyalami

Giving testimony to the fact that our accountants are definitely not boring, the Accountancy@UJ racing team won the UJ Sport Carting day at Kyalami on Friday 19 October 2012. Well done Mr Thabiso Madiba, Mr Paul Viljoen, Mr Dewald Joubert and Mr Jonathan Streng.

Kyalami race track [ 14 ] Accountancy@UJ News Highlights

Accountancy@UJ Chess Open 2012

The annual Accountancy@UJ Chess Open 2012, which is CHESSA rated, took place on the week ended 8 September 2012 at the University of Johannesburgs Auckland Park, Kingsway Campus. The competition is organised in conjunction with Gauteng West Chess and is a highlight on the chess calendar. This years competition consisted of three sections, including a prestige section, open section as well as a development section for younger players. More than 240 players from all age groups participated in this years open. The Accountancy Department of UJ sponsors this tournament and encourages these strategic players to use their critical ways of thinking to make wellinformed career decisions. Chess is a thinkers game in which players plan their every move to outthink their opponents. The department hopes to remain involved in the organisation of this event for years to come and looks forward to extending this to national and international levels. The event served as a platform for the department to form relationships with prospective students, their parents and family and friends and was thoroughly enjoyed by all. Check mate!

Participants of this years Chess open

Strategic thinkers

G o l f D ay
Mr Jaco Koekemoer, Mr Riaan Wessels, Mr Paul Viljoen and Ms Lizelle Muller from the Accountancy@UJ team The Accountancy@UJ Golf team achieved a third place at the annual SAICA Golf Day held at Wanderers Golf Club on 30 October 2012. Congratulations to the team consisting of Mr Jaco Koekemoer, Mr Riaan Wessels, Mr Paul Viljoen, and Ms Lizelle Muller. Laerskool Fontainebleau Golf Day at Randpark Golf Club also took place on 30 October 2012. Once again our Accountancy@UJ golfers did us proud by participating in this event. Thank you to Prof Danie Coetsee, Ms Boniswa Madikizela, Mr Jacque Olivier, and Mr Renier van Niekerk, who formed part of the team that played at Randpark.

Prof Danie Coetsee, Ms Boniswa Madikizela, Mr Jacques Olivier and Mr Renier van Niekerk at the Randpark golf course

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Team Building 2012

The success of any good department lies in the strength of its workforce. During 2012, the Department of Accountancy arranged a number of team building events. These activities encourage good communication and respect among our culturally diverse team of staff. One of 2012s highlights was a day spent on the Rovos Rail. Staff members thoroughly enjoyed the experience and were ready to face the years challenges, full steam ahead!

Rovos Rail

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Accountancy@UJ News Highlights

VALUE ADDED RESEARCH

The Department of Accountancy strives to be on the forefront of value adding research.

Michelle Longman overall winner

The prize winners (from left) Jessica Watridge, Keith Sefularo, Mary Ann Thobekile Ndini and Michelle Longman At an awards ceremony held at the University of Johannesburg (UJ) last Thursday (15 November 2012), Michelle Longman emerged as the overall winner in the BDO UJ Accounting Studies Thought Leadership Project. Keith Sefularo was awarded second place as well as Most Critical Thinker and Jessica Watridge came third. Mary Ann Thobekile Ndinisa excelled as the most improved student and one who showed dedication and commitment throughout the course The assignment required students to write a critical essay on the business activities, management/leadership and financial position of one of 10 JSE-listed companies. The top five students then had to give a short presentation on their assignment at the awards function. Thereafter, the top three were selected to take part in a panel discussion with BDO partners, in front of the audience. UJ is the first university in the country to offer the Accounting Studies course. At the same time, it is new to UJ, being offered for the first time in 2012. The course is designed to support the SAICA Competency Framework as it relates to Pervasive Skills (ethics and professionalism, personal attributes and professional skills). Prof Grietjie Verhoef, Professor of Accounting and Economic History at UJ, says the course was designed to develop a more well-rounded student and a more critical thinker. South African CAs are increasingly required to understand, assimilate, summarise and contextualise vast amounts of business information and the theory covered during typical accounting subjects has historically not covered this subject of learning, she says. BDO Marketing and Business Development Director, Russell Fox, says the firm chose to partner with UJ because it believes that the Accounting Studies course helps nurture and grow young people who are just starting out in this profession. We saw from the high quality of the assignments that there is real talent out there and we are proud to be helping develop and support it, says Fox. BDO is the fifth-largest accounting firm in South Africa, with some 700 staff members spread across four offices countrywide. It is part of the international BDO network and as such offers employees career opportunities across the globe. Says Fox: As a mid-tier auditing firm, BDO prides itself on offering a distinctly different alternative to clients. The nature of the firm and its partners are such that personal relationships are of paramount importance BDO aspires to be a trusted business adviser rather than just an tick box auditing firm.

BDO Sponsors UJ Accounting studies Thought Leadership Project

Accountancy@UJ News Highlights

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World Economic History Congress

The first ever International Economic History Association WORLD ECONOMIC HISTORY CONGRESS 2012 was hosted in South Africa from 9 -13 July 2012. The WEHC 2012 was held in Stellenbosch and the Department of Accountancy@UJ sponsored the closing ceremony. The Department of Accountancy played a pivotal role in bringing the WEHC2012 to South Africa. Professor Grietjie Verhoef, Director of the South African Accounting History Centre (SAAHC), serves on the Executive Committee of the IEHA and won the bid to host the WEHC2012 in South Africa in November 2008. Following that success, a Local Organising Committee started the extensive project of soliciting funding for the WEHC2012, organising the event and finally hosting it. The Department of Finance was the anchor sponsor for the WEHC2012. Government recognition of the world class nature of the congress was displayed by the Minister of Finance, Mr Pravin Gordan, who opened the WEHC2012 on a wet Monday morning in the Kruiskerk on the campus of the University of Stellenbosch on 9 July 2012. A total of 850 delegates from 69 countries attended the WEHC 2012. The WEHC 2012 hosted a total of 131 sessions on Economic, Business and Social History. A remarkable plenary session was addressed by Professor Deirdre Mc Closkey, from the University of Chicago. She revisited the historiography on the Industrial Revolution and pointed to the vital social and human dimensions of economic

Minister of finance, Mr Pravin Gordan at the opening event innovation, entrepreneurship and business development. Delegates were treated to a high-powered closing debate on the Roots of Development in Africa. The debate was between Professor James Robinson, from the Kennedy School of Government at Harvard University, and the renowned Africanist, Professor Gareth Austin, from the Graduate School at the University of Geneva. The success of the WEHC 2012can bemeasured by the enthusiasm with which the delegates enjoyed the hospitality of South Africa. Large numbers of delegates continued on from Stellenbosch to tour the marvellous attractions along the South African coast, the game parks as well as the ever inviting wine regions surrounding Stellenbosch. Professor Grietjie Verhoef now serves as President of the International Economic History Association. This is a first for the Department of Accountancy and for South Africa. The aim in 2008 in bidding for the WEHC 2012 was to display research and scholarship in Economic and Business History in Africa. This work is now perpetuated in the activities of the Economic history Society of South Africa (www.ehssa.org).

Accountancy@UJs collaboration with JSE

The latest World Economic Forum (WEF) Global Competitiveness report ranks South Africa first out of 142 countries for its regulation of securities exchanges. This is the second successive year that South Africa has achieved this ranking and, together with several other elements of the report, suggests that the countrys exchange, the Johannesburg Stock Exchange (JSE), is a sound environment in which to invest. South African standards of corporate governance are highly ranked the country achieved first place for strength in accounting and auditing standards (as last year), second place for efficacy of corporate boards and third place in protection of minority rights (both from sixth in 2010). Its credibility as an investment destination is also boosted strongly by the soundness of its banks, for which the country achieved a second place ranking (also from sixth). South Africa ranks tenth for the strength of investor protection (same as in 2010). This is one of the many reasons why the University of Johannesburg is proud of its collaboration with the JSE. This collaboration began in February 2011 when the JSE announced that it would commence a process of reviewing Annual Financial Statements (AFS) for [ 18 ] Accountancy@UJ News Highlights Russel Loubser, the then CEO of the JSE. It is recognised that a crucial part of this proactive monitoring process is the partnership that the JSE entered into with UJ. Whilst the reviews are based on predetermined risk areas, a critical success factor is a comprehensive body of IFRS knowledge. It is not just a case of ensuring compliance with a specific IFRS disclosure paragraph, but rather the reviewer needs to have a full understanding of all aspects of IFRS in order to understand the potential implications and impact on the AFS of a particular matter and as well as assessing the potential non-compliance within the objective of financial reporting. Through the partnership with UJ, the JSE effectively has access to 20 additional high-calibre personnel. From March to December 2011, 56 AFS were proactively reviewed. 16 cases were closed either with no comments or with a letter of potential areas of improvement being sent to the Issuer. The JSE wrote enquiry letters to 40 of the Issuers, of which 2 resulted in a further referral to the FRIP for advice. By January 2012 11 of the 40 cases of enquiry were still pending finalisation. These findings are broadly in line with international trends.

compliance with International Financial Reporting Standards (IFRS). The integrity of financial information is a critical element of a well-functioning market. The objective of the review process is therefore to contribute towards the production of quality financial reporting of entities listed on the JSE. Additional monitoring will give shareholders the benefits of a better regulated market and underline the accolade recently received for the best exchange in the world through regulation in the World Economic Forum (WEF)s Global Competiveness Report 20102011. This is a tremendous place to have ended 2010, but the JSE will continue to strive for more, said

Research Output
The department of Accountancy remains committed to value-added research. During the course of the year a number of international and national conferences were attended by our academics, including the Value 2012 International conference, which took place on 27 30 May 2012 at the Champagne Sports Resort, KwaZulu-Natal, South Africa. In addition to a number of accredited articles, a number of our lecturers were involved in the publication of textbooks to be used in the field of accounting education.The following accredited articles were published during the course of 2012:

Prof Danie Coetsee, head of the Masters degree programmes of the Department of Accountancy, coauthored an article with Prof Nerine Stegmann entitled: Profile of accounting research in South African Accounting Journals. The article examines the profile of accounting research in the two academic accounting research journals in South Africa. This information should be useful to establish which areas in the field of accounting are researched most and which research methods are applied, but also which areas or research methods could be explored to a greater degree. The article was published in the Meditari Accounting Research Volume 20(2), pp. 92-112. Prof Danie is a seasoned researcher in the field of accounting theory. His involvement in the JSE monitoring project, his memebership to the Accounting Practices Committee as well as his recent appointment to the IFRS Working Group place him in a position to consider the effects of IFRS and its application to South African companies for the development of sound accounting practices. Ms Krysta Heathcote, one of the Departments senior lecturers who played a significant role in the completion of the SAICA history of accounting project, published an article during 2012 entitled. The professionalisation efforts of accountants in the Orange Free State 1907-1927: An exploration of their first twenty years. This appeared in New Contree (64) July 2012. In addition to her research role on the History of Accounting project, Krysta was one of the senior lecturers involved in the new accounting studies programme, which is presented to first-year students with the aim of providing them with an understanding of the accountancy profession and the economic environment in which it exists. Krysta is also in the process of completing her PhD on the history of the accountancy profession. Prof Ben Marx, vice HOD of the Department of Accountancy, is an esteemed researcher in the field of corporate governance and business risk. During 2012 he co-authored an article with Izette Nel which was published in the Journal for New Generation Science. The article, entitled An analysis of business continuity risks and related business continuity plans at companies in South Africa, discusses the various business continuity risks that South African companies are faced with and the various business continuity plans that are in place to address and manage these risks. In addition to this Prof Marx, along with K Barac and T Moloi published an article entitled, Corporate Governance Practices and value added at South African Higher Education institutions: a registrars view. This article appeared in the Journal of Economic and Financial Sciences, Volume 5, Number 2, October 2012. Ms Izette Nel completed her Masters degree in Computer Auditing cum laude in 2011. During the course of 2012 Izette and Prof Ben Marx co-authored an article entitled: An analysis of business continuity risks and related business continuity plans at companies in South Africa. The article was published in the Journal for New Generation Sciences Volume 10(1), pp 97-115. The study investigated the different business continuity risks organisations face and the existence of business continuity plans to address and manage these risks. The study found that although the majority of organisations are aware of the business continuity risks that they are faced with, not all fully understand the impact thereof on their organisations, and accordingly do not have effective and adequate business continuity plans in place to address and manage these risks. Also, not all organisations are placing enough emphasis on the establishment of a business continuity culture within the organisation to supports its business continuity philosophy and plan.

Ms I Nel

Prof B Marx

Ms K Heathcote

Prof D Coetsee

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Prof L Olivier

During the course of 2012, Prof Lynette Olivier published two articles. The first, entitled Assessments under the Tax Administration Bill 2012, was published in the Journal of Economic and Financial Sciences and the second, Capital v Revenue: Confusion Resigns 2012, appeared in De Jure. Prof Olivier is known for her research and publications on taxation and related matters. Prof Nerine Stegmann has published several articles over the years on accounting theory and related topics. During 2012 Prof Stegmann co authored an article with Prof Danie Coetsee that was published in the Meditari Research Journal. The article, A Profile of accounting research in South African accounting journals, aims to examine the profile of accounting research in the two academic accounting research journals in South Africa (Meditari Accountancy Research and SA Journal of Accounting Research) during the ten-year period from 2000 to 2009. This information should be useful to establish which areas in the field of accounting are researched most and which research methods are applied, but also which areas or research methods could be explored to a greater degree. The following dimensions are assessed in the article: (1) authorship; (2) research field; (3) the nature of the research and (4) research methods. Authorship is classified by institution, and the top seven authors by relative contribution are also identified. Under research methods, both empirical and theoretical work is classified separately in different research methods. These different dimensions provide a broad-based review of the current profile of accounting research in South Africa. Prof Stegmann lectures accounting at the Department of Accountancy and was also involved in the design and implementation of the new research-based accounting studies course which forms part of the curriculum for BCom Accounting students. Prof Verhoef has been one of the key researchers in the History of Accounting project for SAICA, and has completed the research report on the History of the Accounting Profession in South Africa for SAICA. The area of her research deals with regulation and education for and of the accounting profession in South Africa. She collaborates on this with colleagues at the University of Sydney and Macquarie University in Australia, as well as the University of South Australia. Furthermore, she engages in research on business history of the insurance industry, as well as big business in South Africa. Her most recent publication in the Journal of Economic and Financial Sciences deals with a comparative perspective on demutualisation in the South African long-term insurance industry. The article is entitled, Mutuality and Regulation: the transition from mutual to public in the South African long term insurance industry. In addition to this she co-authored an article on the printed propaganda of the SA Communist Party during the WW2 with one of her PhD students entitled. The printed propaganda of the Communist Party of South Africa during World War II which was published in Image and Text, volume 20. Prof Verhoefs current work explores the history of the standard-setting process as a form of accounting regulation in South Africa, as well as the contribution of the early accountants to the formation of a specific business culture in South Africa. In addition to the accredited articles referred to above, she published 5 chapters in various books throughout 2012.

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Accountancy@UJ News Highlights

Prof G Verhoef

Prof N Stegmann

INTERESTING READS The changing landscape of adult learning

Helen Bimbassis [Project Director: Education, SAICA] The future and prosperity of South Africa is one in which we build a nation where people are given the opportunity to improve and refine their skills. The chartered accountancy brand is directly linked to the high standard and rigour of its qualification process, which comprises a combination of education, training and assessment. To maintain this standard and ensure that the qualification remains relevant and competitive, the qualification process is periodically reviewed and revised. SAICA has recognised that there is a need to be supportive, innovative and creative in how we engage and support our aspiring CAs and future leaders. It has accordingly explored education delivery models that have the flexibility to meet the individual needs of learners and to enable them to gain the appropriate skills. Even though there has been much debate about adult learning theories, the teacher of adults has a very different job from the one that teaches children. Malcolm Knowles, a pioneer in the study of adult learning, recognised that adult learning needs (andragogy learning) differs from academic education (pedagogic teaching). He observed that adults learn best when they understand why something is important to know or do (need to know); they have the freedom to learn in their own way (self-concept); learning is experiential (prior experience); the time is right for them to learn (readiness to learn); and the process is positive and encouraging According to the NTL Institute for Applied Behavioural Science, typically adults retain only 5% of information which they hear in a lecture. 90% of information is retained when teaching others, such as on the job training. SAICA has taken adult learning theories into account in the revisions to its delivery model. The revisions to the delivery model have led to the development of a new final assessment, which will be called as the Assessment of Professional Competence (APC), and will be written for the first time in November 2014. The APC replaces the two separate exams (Auditing and Financial Management), which currently serve as the final assessment before qualifying as a CA. The APC will take the form of a single integrated case study based on a real-life scenario and will be inter-disciplinary in nature. The adult learner applies two principles, why am I learning and how am I going to learn. Simulation places the learner in the position of working on real business problems, addressing the how am I going to learn, establishing relevance. The process of case study simulation is self-directing, allowing time for reflection and deep cognitive processing, this addresses the why am I learning. The APC takes place almost two-thirds into the formal practical experience period, which makes understanding what aspiring CAs need to know relevant. Irrespective of training contract electives candidates assessed in the APC will receive the same case study. The APC case study aims to assess candidates ability to utilise technical knowledge and skills gained through both academic and work place experience, incorporating prior learning, existing knowledge and experience, affording the candidates to exhibit their skills. The adult learner is autonomous and self-directing and requires flexibility in his/her learning. There are a variety of providers offering the professional programme that needs to be passed before completing the APC; this will allow candidates to choose a programme that suits their learning style. The case study is an integrated multi-disciplinary covering a broad range of competencies and these competencies are acquired through education and training. The aspiring CA has some business experience that enhances learning. The professional programme will incorporate what has been learnt on the job and incorporate real-life case studies into the work programme. In addition the APC will itself be based on a real life case study and will be based on the candidates ability to apply their prior experience gained. Material will be pre-released five days before the assessment, and additional information and the required will only be provided to the candidates on the day. This simulates real-life business, allowing candidates to undertake appropriate research and refresh the relevant technical knowledge related to the scenario provided. The learning is directly related to what happens in real-life and, candidates are required to apply the relevant knowledge and skills as part of their practical experience period. The APC aims at assessing the candidates ability in assimilating information, differentiating relevant versus irrelevant information, problem identification and application of information. Adults learn to aid their work and problem centred activities demonstrating the relevance of the learning. This approach will effectively assess competencies a CA has further developed within the workplace through the practical experience gained during their training contract ensuring that CAs remain relevant and continue to be sought after, for their skills and insight.

Accountancy@UJ borg woorde in Afrikaanse woordeboek

As deel van die Borg n Woord projek van die WAT (Woordeboek van die Afrikaanse Taal) het die Departement Rekeningkunde die woorde rekenmeester en rekeningkunde geborg. As Departement Rekeningkunde doen ons graag ons deel om Afrikaans te bevorder s Prof Alex van der Watt, hoof van die departement. Met trots bied ons ook ons grade in Afrikaans aan en dit is daarom n voorreg om op n manier eienaarskap van die twee woorde te eis. Vir meer inligting besoek www.wat.co.za

Design and layout: UJ Graphic Studio

Accountancy@UJ News Highlights

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