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The purpose of this study is to investigate whether the recent reduction in the volume and complexity of the financial accounting curriculum, which is examinable as part of the qualification process of chartered accountants in South Africa, has resulted in improvements in students’ understanding of core accounting concepts. The reasons for the curriculum reduction are to encourage life-long learning, reduce syllabus overload and focus on core principles.

A sample of 514 students completed an assessment designed to test core concepts. Approximately half the students had been exposed to the previous, larger and more complex curriculum; the other half had only been exposed to the reduced, simpler ‘core’ curriculum.

Although the assessment results of the two cohorts were not significantly different, the latter cohort made significantly less conceptual errors than the former cohort, even though the latter cohort was relatively novice. This finding supports the hypothesis that the reduced curriculum assists students’ understanding of core concepts. Furthermore, it aligns with Cognitive Load Theory (CLT) in that the reduction in examinable content reduces intrinsic load within cognitive load, thereby optimising student learning, as measured by assessment results and error rates.

The findings of this study have relevance for professional accounting bodies responsible for approving curriculum; accounting and other academics interested in the consequences of curriculum reduction on student learning and researchers applying CLT across other disciplines, specifically focussed on the relationship between intrinsic load and learning efficiency.

This paper aims to identify the competency domains to be included in a conceptual framework for tax literacy.

Using a qualitative approach, this study expands on the current understanding of the competency areas of tax literacy. A dual-purpose literature review was, therefore, conducted. The literature review first provided the body of knowledge that underpinned the study and second, the key data concepts for the draft competency structure to determine whether there is consensus on an international (supra) level. The literature review was supported by an interactive qualitative analysis to further present the concept of tax literacy from the perspectives of various national stakeholders in an emerging economy. Accounting and public finance educators from a higher education institution, as well as financial advisers as representatives of a profession with a direct interest in tax-related matters, were considered.

Although a discipline lens seems to strongly influence the previous authors’ view of what tax literacy means, it was possible to identify certain tax literacy competency domains that should be included in a taxpayer education curriculum. These content domains consist first of a knowledge domain which includes disciplinary, interdisciplinary, epistemic and procedural knowledge components. Second, the skills domain should include components of cognitive and meta-cognitive, social and emotional, as well as physical and practice skills. Third, personal and societal attitudes and values represent the third domain. Fourth, transformative competencies such as value creation, taking responsibility and reconciliation attributes are important. Finally, core foundational competencies, such as numeracy and literacy should be in place.

The draft conceptual framework for tax literacy could serve as the foundation for the further development of a tax literacy measurement instrument, as well as tax education courses.

A more holistic conceptual framework for tax literacy, portraying the multidimensional nature of taxation, is presented in contrast to the limited one-dimensional position presented up to now.

The purpose of this paper is to provide a contextual analysis of the professional accounting education programmes in South Africa and India by benchmarking both programmes to the International Education Standards (IESs) of the International Federation of Accountants (IFAC).

The research methodology is a qualitative archival approach extracting information from secondary data (Statements of Membership Obligations’ compliance questionnaires available on the IFAC web site and information from the web sites of the relevant professional accountancy bodies).

With regards to the IESs, the study found that both countries comply with the standards, although important differences occur. In South Africa, most of the education takes place during the university phase; and while both countries cover the content requirements, India covers the acquisition of professional skills more formally; ethics is taught and examined in both countries; both countries require a three year training contract; both countries have a final examination but the content of the examinations are different; and South Africa requires more continuous professional development than India. These findings, when related to India's and South Africa's relative positions on certain of the Global Competitiveness Indices may indicate that India could learn from the South African accountancy education model in order to strengthen the Indian position with regards to auditing and reporting standards.

A limitation of the study is that it did not investigate the quality of the relative education programmes and it benchmarks both programmes at a single point in time.

India could strengthen its accounting profession by implementing some of the South African aspects of its education model. South African could consider adopting the flexibility in the entry requirements in the Indian education model in order to increase the number of accountants in South Africa. These findings may also be useful to other developing countries to identify practices which could be adopted if suitable in their respective countries.

The study is original as accountancy education programmes in India and South Africa have not been contrasted before. In view of their similar colonial background and the fact that both countries are major economic and political forces in their respective regions, the value of this study is that it provides useful and relevant information to India, South Africa and other countries with similar economic and social backgrounds.

Recent accounting literature (PAAB 2001; SAICA 2000) indicates an increasing emphasis on the need for individuals, studying chartered accountancy, to acquire appropriate professional skills such as personal, interpersonal, communication and intellectual skills. The University of Natal uses an annual report project in the third year of the Financial Accounting course to develop these skills in its students. This questionnaire‐based study reports on students’ perceptions of the project and indicates what changes have been made for future projects. The findings of the study are useful for accounting lecturers as it highlights some of the issues that are involved in the use of an annual report as part of an Accounting course.

The paper aims to examine disputed interpretations of “key meanings” between the audit regulator and Big 4 firms during a highly contentious regulatory debate, showcasing their use of “strategies of resistance” to achieve their intended outcomes.

A qualitative analysis is performed of the discourse in a South African audit regulatory debate, set within the country's unique political and historical context. The analysis is informed by the theoretical construct of a “regulatory space” and an established typology of strategic responses to institutional pressures.

The study’s findings show how resistance to regulatory intentions from influential actors, notably the Big 4 firms, was dispelled. This was achieved by the regulator securing oversight independence, co-opting political support, shortening the debate timeline and unilaterally revising the interpretation of its statutory mandate. The regulator successfully incorporated race equality into its interpretation of how the public interest is advanced (in addition to audit quality). The social legitimacy of the Big 4 was then further undermined. The debate was highly contentious and unproductive and likely contributed to overall societal concerns regarding the legitimacy of, and the value ascribed to, the audit function.

A deeper appreciation of vested interests and differing interpretations of key concepts and regulatory logic could help to promote a less combative regulatory environment, in the interest of enhanced audit quality and the sustainability and legitimacy of the audit profession.

The context provides an example, contrary to that observed in many jurisdictions, where the Big 4 fail to actively resist or even dilute significant regulatory reform. Furthermore, the findings indicate that traditional conceptions of what it means to serve “the public interest” may be evolving in favour of a more liberal social democratic interpretation.

South Africans, like many people worldwide, need to save more and spend less. The question arises why people do not save enough for their retirement and other financial needs. In this exploratory study, age, gender and the amount of pocket money that learners receive were evaluated to determine their impact on the level of learners’ financial literacy. The author concluded that of the three variables evaluated, only age has a significant effect on the level of learners’ financial literacy.

Information technology can be seen as one of the key drivers in a changing business environment as it is integrated into almost all aspects of business. All the research investigating the skills and abilities that a professional accountant will need in future emphasises the importance of understanding and being competent in the use of information technology. Whether professional accountants function as financial managers within a specific organisation, act as independent evaluators of an organisation, financial information and systems, or act as consultants advising organisations, they will have to interact with and be knowledgeable about information technology to enable them to perform their jobs competently. The purpose of this article is to identify which information and communication technology (ICT) skills are critical for professional accountants who wish to be competent in the current and future working environment. A literature review was conducted of research by various professional accountancy bodies and other stakeholders to determine: the competence that future professional accountants will need; and the impact of the changing environment on the curricula set by professional accounting bodies. The article concludes with a description of the ICT skills required by professional accountants in order to be competent in today’s work environment. The article concludes with a discussion of the ICT skills that professional accountants must be competent in using.

In South Africa, King III requires companies to have their corporate social responsibility (CSR) disclosures independently assured. Within this context, the purpose of this paper is to examine internal audit’s CSR assurance role.

With reference to the International Professional Practices Framework of the Institute of Internal Auditors, the first phase of the study conceptually considers whether internal audit does qualify as an independent CSR assurance provider. Using a content analysis of integrated reports, the second phase examines the extent to which internal audit’s CSR assurance role has been disclosed. The final phase relies on survey responses to understand the emerging trends observed in the second phase.

The study finds that although internal audit does provide independent CSR assurance, this assurance is primarily intended for internal stakeholders to assist in improving the quality of CSR reporting practices. With one notable exception across the study period, the results suggest that any benefits accruing to external stakeholders were not deliberate, but merely incidental. The paper concludes by arguing that although internal audit will continue to incorporate material CSR issues into its mandatory risk-based auditing approach, the results will not necessarily be publicly available. The extent of reliance that external stakeholders can place on company CSR disclosures are therefore not directly influenced by internal audit’s involvement in CSR-related matters. However, by adopting a proactive CSR role, internal audit can assist reporting companies improve their CSR reporting practices.

Although CSR assurance has been extensively researched, this is one of the first studies to specifically consider the CSR assurance role of the internal audit activity. Despite its South African orientation, given the emerging nature of the CSR assurance phenomenon, the study findings have global implications.

The belief that modern organisations have responsibility for their stakeholders, community and society has existed for many decades (Carroll & Shabana, 2010). In this context, there is increasing demand for the non-financial factors (e.g. corporate social responsibility (CSR), natural and human capitals) from stakeholders for making the appropriate business decision (Eccles & Saltzman, 2011). This information of the organisation is therefore required to not only disclose relevant and reliable information, but also monitor corporate executives.

In the other side, corporation reports are criticised as they do not provide the whole business picture of the way organisations organise financial and non-financial elements to creating value yet. It has ignored or reported just a part of the environmental, social and corporate governance (ESG) impact made by an organisation (Flower, 2015). As a consequence, there has been a call for improving firm report on environmental, CSR and corporate governance in particular, and additional factors that can potentially impact on business performance in general.

Recently, various corporation reports related to environmental, social activities and sustainability have been introduced, and integrated reporting (IR) is one of them. IR framework is introduced as a new standard for corporate communication. It is ‘a concise communication about how an organisation’s strategy, governance, performance and prospects lead to the creation of value over the short, medium and long term’. A number of important outcomes are attributed to IR including satisfying the information needs of stakeholders and driving organisational change towards more sustainable outcomes (Eccles & Krzus, 2010); reducing reputational risk and allowing companies to make better financial and non-financial decisions; and helping to break down operational and reporting silos in organisations and improving systems and processes (Stubbs & Higgins, 2012). Since the IR emphasise the integration of financial and non-financial data into one report, it calls for experience and knowledge from not only the board as management role but also accountant as practice role to deal with this emerging issue.

This chapter considers the problem of the link between how to reporting the ESG information, the management role board and practice role of accountants in organisation to successfully embed ESG information into the overall corporation strategy. We identify the issues with the demand of ESG information from stakeholders and the lack of connecting and integrating the environmental and corporate social sustainability information into organisation report. We explore the development of IR and integrated thinking (InTh) and the opportunities for board in integrating ESG information into practices and eliminating the ESG and reputational risks. Finally, we consider how management accountant via adopting IR and practising InTh can act as the important role in providing and delivering the better ESG information to stakeholders.

The purpose of this paper is to identify the determinants of internal audit workplace learning success for developing early career internal audit professionals in South Africa.

A qualitative research design was used to collect data through focus group discussions and semi-structured interviews from 65 internal audit stakeholders including internal audit employers’ early career; internal auditors’ workplace learning assessors; and presenters and members of the education and training committee of the professional body in South Africa on their experiences of the determinants of workplace learning success for internal auditors.

In line with workplace learning theories, it was found that there are five determinants of internal audit workplace success: the learning environment, management support, the early career internal auditors’ commitment (attitude and motivation to learn) and a relevant, structured and effective formal workplace learning programme.

Internal audit employers, early career internal auditors, workplace learning assessors and presenters as well as the Institute of Internal Auditors globally and in South Africa can use the results of this study as a benchmark for their internal audit workplace learning practices.

This paper provides insight into the determinants of workplace learning success for internal auditors and contributes to the limited body of knowledge in auditing on developing professional competence in the workplace.