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Fasset

Fasset funds future financiers

Thu, 18 Aug 2011 11:31

The Public Practice Examination (PPE) is the final examination that candidates must pass in order to register as an auditor.

“Fasset (the Seta for Finance, Accounting, Management Consulting and Other Financial Services) is very cognisant of its responsibility to fast track transformation within its sector. It is also very cognisant of its responsibility to increase the auditing talent pool, currently a scarce skills area. By funding candidates on the Independent Regulatory Board for Auditors’ PPE Repeat Programme, Fasset is able to achieve both objectives,” says Fasset CEO, Cheryl James.

IRBA introduced the PPE Repeat Programme in 2001. Devised to support Black (African, Coloured and Indian) candidates, the PPE Repeat Programme includes technical lectures and practical tutorial sessions; techniques to improve time management, mark scoring and examination success. In addition to completing assignments, candidates are also required to complete mock examinations. Candidates, who require more personal attention and support, are provided with individual coaching sessions.

IRBA Project Manager: Branding and Transformation, Abraham Ramano, says candidates fail the PPE as a result of poor examination techniques and skills: “The Fasset Support Programme provides the candidates with additional skills and examination techniques, as well as the emotional support needed for success in the PPE.”

To date, Fasset has financed 603 of the 1 206 candidates, who have completed the programme.

“Fasset’s financial support of the PPE Repeat Programme has without doubt made a difference as the IRBA was able to increase the number of participants in the programme, thus increasing the number of black registered auditors in the auditing profession,” Ramano informs.

Results on the 2010 PPE Repeat Programme, which was released recently, impressed. Out of 87 candidates, 61 candidates passed. “Fasset was delighted with the 70% pass rate. Once again, Fasset has proved that its faith in repeat candidates was well-founded,” James observes.

Marlon Awkes, a candidate on the 2010 PPE Repeat Programme says the programme helped him prepare for the examination, both mentally and physically.

“When I failed the PPE the first time, I had no idea what was wrong and I thought it was knowledge and It wasn’t. Karien Coats showed me all the wrongs in terms of my technique and answering questions. She mostly complained about my handwriting and asked me to start writing with another pen.

During my study leave period, when answering the questions, I bought new pens and wrote much more slowly than usual, while recognising that I had to finish the questions in the allocated time. Practising helped me a lot. The end result was that I answered all my questions. I even had time to review some of my answers,” Marlon Awkes, an Assistant Manager in the International Audit Unit at the Auditor-General of South Africa, explains.

Awkes says it is a “huge relief” to finally have the designation CA (SA) behind his name.

“All the hard work and the late nights and sacrifices have finally paid off. All the Saturdays lost to rugby and partying and declining various Friday night braais was worth every cent. Now I can look forward to some free time and really start breathing and living a bit. Thank you once again, Abraham, Fasset, Karienand the rest of your team for the assistance in this regard. Without you in my corner, I do not know how this would have ended,” Awkes concludes.