How to become a Chartered Accountant

Want to become a Chartered Accountant?

Below is some guidance on the process to pursue this career.

High school

Make sure you get a University Entrance Matric with good marks in Maths and Accounting (these will form the base of your knowledge and, while the actual subject content is not earth shatteringly useful, the logic and process of thinking is vital).

University

Enroll at a university to complete a B Com Accounting Science degree and then enrol for Honours in Accounting Sciences (also called CTA or PGDA). This degree and honours year follow a set curriculum with subjects like Auditing, Financial accounting, Management Accounting and Taxation.

CTA

For your CTA, you can complete this full time at various universities. You can also choose to study part time with UNISA, the Institute of Accounting Science or IIE MSA. There are also various institutions such as Varsity College or Edge Business School who offer additional support to students studying CTA part-time.

Some Training offices allow you to complete your Training Contract (explained below) at the same time as you study for your degree and CTA.

Both the degree and CTA are rather challenging, so you have to carefully consider whether to pursue your studies part time while you are working.

Your Training Contract

Sign up with a Training Office such as RSM in order to start your Training Contract which is an employment contract and learnership program. If you begin your training contract at the start of CTA or after completing CTA, you will need to complete a 3-year fixed term Training Contract.

Board Exams

There are 2 board exams that will be written as the final steps to qualifying as a CA(SA). The first one is known as the Initial Test of Competence (ITC). You are eligible to write it in the year after you pass your CTA. Universities prepare you for ITC through CTA.

The second exam is the Assessment of Professional Competence (APC). You become eligible once you have completed these three requirements:

Passed the ITC exam; and
Completed 20 months of the training contract; and
Completed and passed a recognised preparation course such as APT which is offered by institutions like UJ and UCT that is completed after hours during your training contract.

After completing your training contract and passing both board exams, you are then eligible to register as a CA(SA) – a registered Chartered Accountant in South Africa.

The final step

After completing your Learnership and passing both board exams, you are eligible to register as a CA(SA) – a registered Chartered Accountant in South Africa.

What subjects do I need to become a Chartered Accountant?

You would need to register for the CA stream B Com with subjects in:

Auditing, Financial Accounting, Management Accounting and Taxation.

These CA stream degrees are SAICA accredited degrees and will be a set curriculum, so these subjects will form part of your degree.

Audit and Assurance

An RSM trainee success story

View Michael's profile here

Michael Steenkamp joined RSM South Africa in 2001 as a trainee accountant. Michael had opted to study part time and complete his training contract simultaneously. This required immense dedication and plenty of hard work, and Michael successfully completed his training journey in 2005. He worked his way up through the ranks and is currently a Director in the Audit division of RSM South Africa and our Head of IFRS.