UCT celebrates stellar IAC results

The University of Cape Town (UCT) has once again affirmed its standing as a national leader in accounting education, celebrating a remarkable 99% overall pass rate in the January 2025 Initial Assessment of Competence (IAC) examination, including a flawless 100% pass rate among first-time candidates.

The IAC, formerly known as the Initial Test of Competence (ITC), is the first of two qualifying exams administered by the South African Institute of Chartered Accountants (SAICA). It assesses core technical competencies required of aspiring chartered accountants [CA(SA)] and is an important landmark on the path to full qualification.

“We are incredibly proud of our students. A 100% pass rate among first-time candidates is no small feat. It’s a clear indication of the commitment from both students and staff to academic excellence,” said Professor Ilse Lubbe, the head of UCT’s College of Accounting. “What makes this even more meaningful is the number of African candidates who passed. This shows that transformation and excellence are not mutually exclusive – they go hand in hand,” referring to the excellence, sustainability and transformation pillars of the university’s Vision 2030.

The results include three UCT graduates ranking in SAICA’s prestigious national Top 10 list, further cementing the university’s reputation as a nurturing ground for top-performing chartered accountancy talent.

According to SAICA, the overall national pass rate for the January 2025 IAC increased to 70%, up from 67% in the previous year. First-time candidates achieved an 82% pass rate (up from 79%), while repeat candidates showed significant improvement, jumping from 17% to 45%. UCT’s own repeat candidates recorded a pass rate of 60%.

“It’s not just about passing an exam – it’s about equipping graduates with the mindset and skills to thrive in complex, rapidly evolving environments.”

The IAC exam format was recently updated to align with SAICA’s new “CA of the Future Competency Framework”, which introduces integrated thinking, digital transformation, and broader non-financial performance analysis into the qualification journey. These reforms are aimed at future-proofing the profession while making it more inclusive and responsive to the demands of a changing world.

“The performance of our students is a testament to the success of these changes,” Professor Lubbe said. “It’s not just about passing an exam – it’s about equipping graduates with the mindset and skills to thrive in complex, rapidly evolving environments. We believe we are doing that.”

UCT attributes its continued success to a strong culture of support, innovative pedagogy, and its inclusive educational philosophy. Among the standout features of its undergraduate and Postgraduate Diploma in Accounting programmes, are a series of academic interventions, workshops, and mentorship opportunities that serve all students – not just those identified as at risk.

Approach

“Our ethos is simple: every student counts. We don’t wait for students to struggle before offering support. From the outset, we create opportunities for engagement and academic growth. That includes engaged teaching, regular consultations, and targeted preparation sessions that help all students perform to their full potential.”

This approach has yielded consistent results. UCT has maintained one of the highest pass rates nationally for several years, with first-time pass rates of 100% in both 2023 and 2025 (and 96% in 2024). But while excellence has remained a hallmark, Lubbe emphasised that sustainability and transformation are equally important.

“This level of achievement doesn’t happen overnight. It takes a long-term commitment to building systems that work – systems that are inclusive, effective, and adaptable. Our class profile is increasingly diverse, and we are seeing that reflected in our results,” she said.

“These graduates play a vital role in our ecosystem, and their performance is just as important to us.”

Academic trainees, who are graduates spending a full year on contract within the College of Accounting, also achieved a 100% pass rate – a source of pride for the university. Lubbe noted that this success not only reflects the quality of UCT’s academic training but also the depth of support these trainees receive during their year in the college.

“These graduates play a vital role in our ecosystem, and their performance is just as important to us. We are super proud of their success and the dedication they bring to the programme.”

But beyond the statistics lies a deeper message about transformation, resilience, and the power of inclusive education. “Ultimately, this isn’t just about UCT. It’s about what’s possible when students are given the right tools, the right environment, and the right support. It’s about transformation that’s real and measurable. And it’s about preparing future chartered accountants who are not only technically strong, but also socially conscious and future-ready.”