Making our blueprint, yours
Audit - A career for those who thrive on change
If you have the right qualifications, enjoy the challenge of a changing legislative environment and you thrive on high-level interaction with clients, then we are waiting to consider you for a position within KPMG’s Audit practice.
Frequently Asked Questions: Audit
What does a Chartered Accountant (CA) do?
Working in Audit demands a clear understanding of a client’s business and a highly analytical mind. You have to look for the right answers to key questions.
Does a company’s bank balance agree with its record of its cash balance? Do the employees who are being paid a salary really exist? Do the fixed assets of the company actually belong to them? Is the company stock out of date and obsolete? How effective are the company’s financial controls?
In short, you have to find out as much about a company and the way it works, as you can. The main objective of this research is to gather all the information needed to perform an effective audit and to report to shareholders. It also ensures that a company’s annual accounts show a true and fair view of its financial activity and position.
At KPMG, it is also about understanding the business processes and objectives of our clients to help them develop and thrive in changing markets.
You will develop an in-depth understanding of many of our clients’ businesses, from how they market themselves to operational business practice.
KPMG in South Africa audits a number of companies listed on the Johannesburg Securities Exchange, including three of the country’s top five banks.
What qualifications do I need to complete a training contract?
To join KPMG for a 36-month training contract, you need to be in possession of, or studying towards, a Certificate in the Theory of Accounting (CTA) at a SAICA accredited university. Your university may call their degree by a different name, but as long as the degree will allow you to become a CA, then you can apply.
What do I need to study to become a CA?
To become a Chartered Accountant, you will need to enrol for a three-year BCom Accounting degree, or equivalent, at a SAICA accredited tertiary educational institution. After graduating with your degree, you will need to complete a Certificate in the Theory of Accountancy (CTA), also at an accredited university. This is a year-long course focusing on Accounting, Financial Management, Auditing and Taxation. All four subjects need to be written and passed in the same year.
What practical experience is required to qualify as a CA?
Upon completion of your CTA, you are ready to enter into a training contract with a Registered Training Office (RTO). Your training contract will take three years to complete and during this time you will be part of an Audit team conducting financial statement audits. These three years are an ideal opportunity to learn about how businesses are run and get insight into what makes a business successful.
Tell me more about the professional exams...
During these three years, you will also write the Qualifying Exam and the Public Practice Exam. These are the two professional exams, which are set and administered on a national basis. It is your final chance to prove you have the technical knowledge required to become a CA.
If you’ve passed the exams and completed your training contract, you can register as a CA (SA), and start reaping the benefits of a professional career.
In total, the process of qualifying as a chartered accountant takes at least seven years from when you finish school.
What personal attributes do I need?
Some of the personal attributes you will need include:
- enjoying working with people
- strong communication skills
- an ability to overcome obstacles and setbacks
- a willingness to learn from others and being a team player.