There has been a drop in students taking accountancy at school and this may be a problem for the profession in the future.
According to IOL, Faith Ngwenya stated: “A significant drain in accounting pupils now will mean far fewer accountants entering the job market down the line”.
This article states that this may be due to students shying away from taking pure mathematics.
The Department of Basic Education presented statistics that show the number of students taking accounting slowly decreasing and if it continues this way more than one profession will suffer the consequences.
There are over forty thousand less students that wrote matric accounting and only a little over a half of those students passed the subject.
Ngwenya believes that in order to combat this situation, teachers must identify the students that excel in the subject and these students should be encouraged to take the subject to matric and further their studies in University.
Another way to deal with it early on is to start awareness programmes that Ngwenya believes should come from businesses and government. Without a steady pool of accountants in the future it will be businesses and government that will struggle when there is a scarcity of accountants.
Peter Nieuwenhuizen says students believe that in order to practice accounting they must be qualified chartered accountants and auditors.
Nieuwenhuizen clarifies: “Persons with a national diploma in accounting and with recognition from a professional body could create their own accounting practice in line with the body’s mandates”.
With the future of accounting including exciting AI technology, students of this generation should be encouraged to be a part of it.