Accounting, Auditing and Taxation Bursaries in South Africa for 2018
Accounting as a career path
A career in accounting is more than just number crunching. Accountants are the financial backbone of a company – they are vital to the running of any business you come across.
Accountants thoroughly record, analyse and provide interpretations regarding financial records or transactions. They are involved in forensic accounting, financial reporting, corporate finance, auditing, taxation, business recovery, business insolvency and accounting systems. Accountants conduct a variety of finance-related tasks involving figures and statistics.
This particular field is one that will always be in great demand and over growth prospects within most big companies.
Salary ranges in the accounting field vary according to your qualification, certification and level of experience. With accounting assistants or accounting clerks and accounting managers being on opposite ends of the spectrum.
Auditing as a career path
In short, Auditors are specialists within the Accounting field – they review company accounts to ensure that all financial records are valid and legal.
Auditors can also be advisors for companies, by recommending cost savings and possible risk aversion measures to take. These professionals look for fraud, mismanagement and waste of company funds, property or time.
In essence, auditors are responsible for ensuring that a company uses its resources as effectively as possible, for the benefit of shareholders (in private companies) or taxpayers (in the public sector).
This field will also stay in demand as all publicly-funded bodies and public companies are legally required to undergo an annual audit.
Taxation as a career path
Tax advisors provide consultancy and advisory services to their clients, to ensure that their taxes are paid in the most efficient way and to ensure that they benefit from any possible exemptions or tax advantages.
Most tax advisors choose to specialise in one of six types of tax, although they should have a general knowledge of each type. The types of tax include: Company Tax, Personal Tax, Capital Gains Tax, VAT, Stamp Duties and Inheritance Tax.
Tax Practitioners or Tax Consultant provide advice on taxation matters. Their responsibilities can include analysing tax issues, registering tax payers, overseeing tax returns, determining tax liabilities, writing reports and dealing with disputes.
How much can I earn in the Accounting, Auditing and Taxation industry?
With the correct level of qualification and working expereience, you can expect to earn the following salary (note that these salaries are the median):
Auditor – around R190 000 per year
Tax Consultant – around R240 000 per year
Internal Auditor – around R240 000 per year
Accountants – around R250 000 per year
Management Accountant – around R380 000 per year
Senior Internal Auditor – around R410 000 per year
Finance Manager – around R520 000 per year
Tax Manager – around R530 000 per year
What are the requirements for a career in one of these fields?
If you are thinking of pursuing a career in Accounting, Auditing or Taxation, you should meet the requirements as listed below:
- You must have strong communication skills
- You must have excellent problem solving skills
- You must have strong analytical ability
- You must be good with numbers
- You must enjoy working with numbers
- You must have good attention to detail
- You must be able to priortise and meet strict deadlines
- You must be able to keep all company records confidential
- You must have a minimum bachelors qualification
How can I get a bursary for Accounting, Auditing or Taxation?
Here are the companies who are offering bursaries for this particular field of study:
Cape Winelands District Municipality Bursary
FNB Fund Bursary
Investec Bank CSI Bursary
RCL Foods Bursary
South African Reserve Bank Bursary
Standard Bank CSI Bursary
….more coming soon