\documentclass[11pt,twoside]{article}\makeatletter

\IfFileExists{xcolor.sty}%
  {\RequirePackage{xcolor}}%
  {\RequirePackage{color}}
\usepackage{colortbl}
\usepackage{wrapfig}
\usepackage{ifxetex}
\ifxetex
  \usepackage{fontspec}
  \usepackage{xunicode}
  \catcode`⃥=\active \def⃥{\textbackslash}
  \catcode`❴=\active \def❴{\{}
  \catcode`❵=\active \def❵{\}}
  \def\textJapanese{\fontspec{Noto Sans CJK JP}}
  \def\textChinese{\fontspec{Noto Sans CJK SC}}
  \def\textKorean{\fontspec{Noto Sans CJK KR}}
  \setmonofont{DejaVu Sans Mono}
  
\else
  \IfFileExists{utf8x.def}%
   {\usepackage[utf8x]{inputenc}
      \PrerenderUnicode{–}
    }%
   {\usepackage[utf8]{inputenc}}
  \usepackage[english]{babel}
  \usepackage[T1]{fontenc}
  \usepackage{float}
  \usepackage[]{ucs}
  \uc@dclc{8421}{default}{\textbackslash }
  \uc@dclc{10100}{default}{\{}
  \uc@dclc{10101}{default}{\}}
  \uc@dclc{8491}{default}{\AA{}}
  \uc@dclc{8239}{default}{\,}
  \uc@dclc{20154}{default}{ }
  \uc@dclc{10148}{default}{>}
  \def\textschwa{\rotatebox{-90}{e}}
  \def\textJapanese{}
  \def\textChinese{}
  \IfFileExists{tipa.sty}{\usepackage{tipa}}{}
\fi
\def\exampleFont{\ttfamily\small}
\DeclareTextSymbol{\textpi}{OML}{25}
\usepackage{relsize}
\RequirePackage{array}
\def\@testpach{\@chclass
 \ifnum \@lastchclass=6 \@ne \@chnum \@ne \else
  \ifnum \@lastchclass=7 5 \else
   \ifnum \@lastchclass=8 \tw@ \else
    \ifnum \@lastchclass=9 \thr@@
   \else \z@
   \ifnum \@lastchclass = 10 \else
   \edef\@nextchar{\expandafter\string\@nextchar}%
   \@chnum
   \if \@nextchar c\z@ \else
    \if \@nextchar l\@ne \else
     \if \@nextchar r\tw@ \else
   \z@ \@chclass
   \if\@nextchar |\@ne \else
    \if \@nextchar !6 \else
     \if \@nextchar @7 \else
      \if \@nextchar (8 \else
       \if \@nextchar )9 \else
  10
  \@chnum
  \if \@nextchar m\thr@@\else
   \if \@nextchar p4 \else
    \if \@nextchar b5 \else
   \z@ \@chclass \z@ \@preamerr \z@ \fi \fi \fi \fi
   \fi \fi  \fi  \fi  \fi  \fi  \fi \fi \fi \fi \fi \fi}
\gdef\arraybackslash{\let\\=\@arraycr}
\def\@textsubscript#1{{\m@th\ensuremath{_{\mbox{\fontsize\sf@size\z@#1}}}}}
\def\Panel#1#2#3#4{\multicolumn{#3}{){\columncolor{#2}}#4}{#1}}
\def\abbr{}
\def\corr{}
\def\expan{}
\def\gap{}
\def\orig{}
\def\reg{}
\def\ref{}
\def\sic{}
\def\persName{}\def\name{}
\def\placeName{}
\def\orgName{}
\def\textcal#1{{\fontspec{Lucida Calligraphy}#1}}
\def\textgothic#1{{\fontspec{Lucida Blackletter}#1}}
\def\textlarge#1{{\large #1}}
\def\textoverbar#1{\ensuremath{\overline{#1}}}
\def\textquoted#1{‘#1’}
\def\textsmall#1{{\small #1}}
\def\textsubscript#1{\@textsubscript{\selectfont#1}}
\def\textxi{\ensuremath{\xi}}
\def\titlem{\itshape}
\newenvironment{biblfree}{}{\ifvmode\par\fi }
\newenvironment{bibl}{}{}
\newenvironment{byline}{\vskip6pt\itshape\fontsize{16pt}{18pt}\selectfont}{\par }
\newenvironment{citbibl}{}{\ifvmode\par\fi }
\newenvironment{docAuthor}{\ifvmode\vskip4pt\fontsize{16pt}{18pt}\selectfont\fi\itshape}{\ifvmode\par\fi }
\newenvironment{docDate}{}{\ifvmode\par\fi }
\newenvironment{docImprint}{\vskip 6pt}{\ifvmode\par\fi }
\newenvironment{docTitle}{\vskip6pt\bfseries\fontsize{22pt}{25pt}\selectfont}{\par }
\newenvironment{msHead}{\vskip 6pt}{\par}
\newenvironment{msItem}{\vskip 6pt}{\par}
\newenvironment{rubric}{}{}
\newenvironment{titlePart}{}{\par }

\newcolumntype{L}[1]{){\raggedright\arraybackslash}p{#1}}
\newcolumntype{C}[1]{){\centering\arraybackslash}p{#1}}
\newcolumntype{R}[1]{){\raggedleft\arraybackslash}p{#1}}
\newcolumntype{P}[1]{){\arraybackslash}p{#1}}
\newcolumntype{B}[1]{){\arraybackslash}b{#1}}
\newcolumntype{M}[1]{){\arraybackslash}m{#1}}
\definecolor{label}{gray}{0.75}
\def\unusedattribute#1{\sout{\textcolor{label}{#1}}}
\DeclareRobustCommand*{\xref}{\hyper@normalise\xref@}
\def\xref@#1#2{\hyper@linkurl{#2}{#1}}
\begingroup
\catcode`\_=\active
\gdef_#1{\ensuremath{\sb{\mathrm{#1}}}}
\endgroup
\mathcode`\_=\string"8000
\catcode`\_=12\relax

\usepackage[a4paper,twoside,lmargin=1in,rmargin=1in,tmargin=1in,bmargin=1in,marginparwidth=0.75in]{geometry}
\usepackage{framed}

\definecolor{shadecolor}{gray}{0.95}
\usepackage{longtable}
\usepackage[normalem]{ulem}
\usepackage{fancyvrb}
\usepackage{fancyhdr}
\usepackage{graphicx}
\usepackage{marginnote}

\renewcommand{\@cite}[1]{#1}


\renewcommand*{\marginfont}{\itshape\footnotesize}

\def\Gin@extensions{.pdf,.png,.jpg,.mps,.tif}

  \pagestyle{fancy}

\usepackage[pdftitle={Towards a Competency Framework for SME Accountants -A South African perspective},
 pdfauthor={}]{hyperref}
\hyperbaseurl{}

	 \paperwidth210mm
	 \paperheight297mm
              
\def\@pnumwidth{1.55em}
\def\@tocrmarg {2.55em}
\def\@dotsep{4.5}
\setcounter{tocdepth}{3}
\clubpenalty=8000
\emergencystretch 3em
\hbadness=4000
\hyphenpenalty=400
\pretolerance=750
\tolerance=2000
\vbadness=4000
\widowpenalty=10000

\renewcommand\section{\@startsection {section}{1}{\z@}%
     {-1.75ex \@plus -0.5ex \@minus -.2ex}%
     {0.5ex \@plus .2ex}%
     {\reset@font\Large\bfseries}}
\renewcommand\subsection{\@startsection{subsection}{2}{\z@}%
     {-1.75ex\@plus -0.5ex \@minus- .2ex}%
     {0.5ex \@plus .2ex}%
     {\reset@font\Large}}
\renewcommand\subsubsection{\@startsection{subsubsection}{3}{\z@}%
     {-1.5ex\@plus -0.35ex \@minus -.2ex}%
     {0.5ex \@plus .2ex}%
     {\reset@font\large}}
\renewcommand\paragraph{\@startsection{paragraph}{4}{\z@}%
     {-1ex \@plus-0.35ex \@minus -0.2ex}%
     {0.5ex \@plus .2ex}%
     {\reset@font\normalsize}}
\renewcommand\subparagraph{\@startsection{subparagraph}{5}{\parindent}%
     {1.5ex \@plus1ex \@minus .2ex}%
     {-1em}%
     {\reset@font\normalsize\bfseries}}


\def\l@section#1#2{\addpenalty{\@secpenalty} \addvspace{1.0em plus 1pt}
 \@tempdima 1.5em \begingroup
 \parindent \z@ \rightskip \@pnumwidth 
 \parfillskip -\@pnumwidth 
 \bfseries \leavevmode #1\hfil \hbox to\@pnumwidth{\hss #2}\par
 \endgroup}
\def\l@subsection{\@dottedtocline{2}{1.5em}{2.3em}}
\def\l@subsubsection{\@dottedtocline{3}{3.8em}{3.2em}}
\def\l@paragraph{\@dottedtocline{4}{7.0em}{4.1em}}
\def\l@subparagraph{\@dottedtocline{5}{10em}{5em}}
\@ifundefined{c@section}{\newcounter{section}}{}
\@ifundefined{c@chapter}{\newcounter{chapter}}{}
\newif\if@mainmatter 
\@mainmattertrue
\def\chaptername{Chapter}
\def\frontmatter{%
  \pagenumbering{roman}
  \def\thechapter{\@roman\c@chapter}
  \def\theHchapter{\roman{chapter}}
  \def\thesection{\@roman\c@section}
  \def\theHsection{\roman{section}}
  \def\@chapapp{}%
}
\def\mainmatter{%
  \cleardoublepage
  \def\thechapter{\@arabic\c@chapter}
  \setcounter{chapter}{0}
  \setcounter{section}{0}
  \pagenumbering{arabic}
  \setcounter{secnumdepth}{6}
  \def\@chapapp{\chaptername}%
  \def\theHchapter{\arabic{chapter}}
  \def\thesection{\@arabic\c@section}
  \def\theHsection{\arabic{section}}
}
\def\backmatter{%
  \cleardoublepage
  \setcounter{chapter}{0}
  \setcounter{section}{0}
  \setcounter{secnumdepth}{2}
  \def\@chapapp{\appendixname}%
  \def\thechapter{\@Alph\c@chapter}
  \def\theHchapter{\Alph{chapter}}
  \appendix
}
\newenvironment{bibitemlist}[1]{%
   \list{\@biblabel{\@arabic\c@enumiv}}%
       {\settowidth\labelwidth{\@biblabel{#1}}%
        \leftmargin\labelwidth
        \advance\leftmargin\labelsep
        \@openbib@code
        \usecounter{enumiv}%
        \let\p@enumiv\@empty
        \renewcommand\theenumiv{\@arabic\c@enumiv}%
	}%
  \sloppy
  \clubpenalty4000
  \@clubpenalty \clubpenalty
  \widowpenalty4000%
  \sfcode`\.\@m}%
  {\def\@noitemerr
    {\@latex@warning{Empty `bibitemlist' environment}}%
    \endlist}

\def\tableofcontents{\section*{\contentsname}\@starttoc{toc}}
\parskip0pt
\parindent1em
\def\Panel#1#2#3#4{\multicolumn{#3}{){\columncolor{#2}}#4}{#1}}
\newenvironment{reflist}{%
  \begin{raggedright}\begin{list}{}
  {%
   \setlength{\topsep}{0pt}%
   \setlength{\rightmargin}{0.25in}%
   \setlength{\itemsep}{0pt}%
   \setlength{\itemindent}{0pt}%
   \setlength{\parskip}{0pt}%
   \setlength{\parsep}{2pt}%
   \def\makelabel##1{\itshape ##1}}%
  }
  {\end{list}\end{raggedright}}
\newenvironment{sansreflist}{%
  \begin{raggedright}\begin{list}{}
  {%
   \setlength{\topsep}{0pt}%
   \setlength{\rightmargin}{0.25in}%
   \setlength{\itemindent}{0pt}%
   \setlength{\parskip}{0pt}%
   \setlength{\itemsep}{0pt}%
   \setlength{\parsep}{2pt}%
   \def\makelabel##1{\upshape ##1}}%
  }
  {\end{list}\end{raggedright}}
\newenvironment{specHead}[2]%
 {\vspace{20pt}\hrule\vspace{10pt}%
  \phantomsection\label{#1}\markright{#2}%

  \pdfbookmark[2]{#2}{#1}%
  \hspace{-0.75in}{\bfseries\fontsize{16pt}{18pt}\selectfont#2}%
  }{}
      \def\TheFullDate{2013-01-15 (revised: 15 January 2013)}
\def\TheID{\makeatother }
\def\TheDate{2013-01-15}
\title{Towards a Competency Framework for SME Accountants -A South African perspective}
\author{}\makeatletter 
\makeatletter
\newcommand*{\cleartoleftpage}{%
  \clearpage
    \if@twoside
    \ifodd\c@page
      \hbox{}\newpage
      \if@twocolumn
        \hbox{}\newpage
      \fi
    \fi
  \fi
}
\makeatother
\makeatletter
\thispagestyle{empty}
\markright{\@title}\markboth{\@title}{\@author}
\renewcommand\small{\@setfontsize\small{9pt}{11pt}\abovedisplayskip 8.5\p@ plus3\p@ minus4\p@
\belowdisplayskip \abovedisplayskip
\abovedisplayshortskip \z@ plus2\p@
\belowdisplayshortskip 4\p@ plus2\p@ minus2\p@
\def\@listi{\leftmargin\leftmargini
               \topsep 2\p@ plus1\p@ minus1\p@
               \parsep 2\p@ plus\p@ minus\p@
               \itemsep 1pt}
}
\makeatother
\fvset{frame=single,numberblanklines=false,xleftmargin=5mm,xrightmargin=5mm}
\fancyhf{} 
\setlength{\headheight}{14pt}
\fancyhead[LE]{\bfseries\leftmark} 
\fancyhead[RO]{\bfseries\rightmark} 
\fancyfoot[RO]{}
\fancyfoot[CO]{\thepage}
\fancyfoot[LO]{\TheID}
\fancyfoot[LE]{}
\fancyfoot[CE]{\thepage}
\fancyfoot[RE]{\TheID}
\hypersetup{citebordercolor=0.75 0.75 0.75,linkbordercolor=0.75 0.75 0.75,urlbordercolor=0.75 0.75 0.75,bookmarksnumbered=true}
\fancypagestyle{plain}{\fancyhead{}\renewcommand{\headrulewidth}{0pt}}

\date{}
\usepackage{authblk}

\providecommand{\keywords}[1]
{
\footnotesize
  \textbf{\textit{Index terms---}} #1
}

\usepackage{graphicx,xcolor}
\definecolor{GJBlue}{HTML}{273B81}
\definecolor{GJLightBlue}{HTML}{0A9DD9}
\definecolor{GJMediumGrey}{HTML}{6D6E70}
\definecolor{GJLightGrey}{HTML}{929497} 

\renewenvironment{abstract}{%
   \setlength{\parindent}{0pt}\raggedright
   \textcolor{GJMediumGrey}{\rule{\textwidth}{2pt}}
   \vskip16pt
   \textcolor{GJBlue}{\large\bfseries\abstractname\space}
}{%   
   \vskip8pt
   \textcolor{GJMediumGrey}{\rule{\textwidth}{2pt}}
   \vskip16pt
}

\usepackage[absolute,overlay]{textpos}

\makeatother 
      \usepackage{lineno}
      \linenumbers
      
\begin{document}

             \author[1]{Danie  Schutte}

             \affil[1]{  North West University}

\renewcommand\Authands{ and }

\date{\small \em Received: 6 December 2012 Accepted: 31 December 2012 Published: 15 January 2013}

\maketitle


\begin{abstract}
        


Globalization has brought major changes in the world economy, for example a significant increase in trade and investments, rapid technological changes in communications as well as an increasing trend towards deregulation of financial markets. Prospects of increased sales in the world-wide market did not necessarily pose the same benefits to all market participants. In contrast to large multi-national companies, the traditional focus of Small and Medium Enterprises (SMEs) did not include exporting and importing along with alliances, branches and joint ventures abroad. Despite the pivotal roles of small and medium businesses in many economies, the specific challenges resulting from the globalisation phenomenon cannot be denied.

\end{abstract}


\keywords{competency framework;international federation of accountants; south africa institute of professional accountants;iaesb; ies.}

\begin{textblock*}{18cm}(1cm,1cm) % {block width} (coords) 
\textcolor{GJBlue}{\LARGE Global Journals \LaTeX\ JournalKaleidoscope\texttrademark}
\end{textblock*}

\begin{textblock*}{18cm}(1.4cm,1.5cm) % {block width} (coords) 
\textcolor{GJBlue}{\footnotesize \\ Artificial Intelligence formulated this projection for compatibility purposes from the original article published at Global Journals. However, this technology is currently in beta. \emph{Therefore, kindly ignore odd layouts, missed formulae, text, tables, or figures.}}
\end{textblock*}


\let\tabcellsep& 	 	 		 
\section[{Introduction}]{Introduction}\par
a) Background he economy and business environment is constantly changing and the world continues to become more global  {\ref (Retief, 2012:8)}.\par
Denis, Morrow and Roger (2006:3) defined globalisation as an increasingly integrated world economy and a process underpinned by modifications of policies in various countries towards a more open, market based, system of economic governance. In the wake of the globalisation phenomenon a sustainable, global business environment depends on a strong financial Author: School of Accounting Sciences, Faculty of Economic and Management Sciences, North West University,Private Bag X6001, Potchefstroom, 2520, South Africa. e-mail: danie.schutte@nwu.ac.za. architecture  {\ref (IFAC, 2013a)}. From an accounting perspective, it inevitably brought with it moves to establish a single set of financial reporting standardsand other forms of standardisation across borders (Chan \& White, 2007:605). As a result, international accounting standards have been in a steady state of change to support a viable financial architecture  {\ref (Retief, 2012:8)}. The global profession can be strengthened, economic growth and stability can be achieved and the challenge of contribution can be addressed by focusing on the development of high-quality international accounting standards and encouragingunity amongst international participants (Ward, 2005). In addition, harmonisation of accounting practices would be a giant leap to strengthen the accounting profession and protect the public interest globally (Pendergast, Partner, Urbach \&Werlin, 2006:16).\par
In order to address the importance of highqualityaccounting standards and for the purpose of setting a benchmark amongst international participants the International Federation of Accountants (IFAC) was established to serve the public interest bycontributing to the development and facilitating the adoption and implementation of high-quality accounting standards(IFAC, 2013b). According to Horstmann (2005:98) IFAC's primary mission is to carry on strengthening the global profession and economies by establishing and promoting union international accounting standards. The challenges and opportunities facing this standard-setting body include meeting the increasingly different needs of global users, addressing concerns about complexity, clarity and relevance  {\ref (Horstmann, 2005:98)} and providing direction to financial architectures worldwide (IFAC, 2013a). Despite the fact that the development and implementation of high-qualityaccounting standards was not without any limitations, the need for a single set of international accounting standards was recognized  {\ref (IFAC, 2007)}. In this regard it was argued that a single set of accounting standards gains the trust of the global audience in financial reporting and therefore increases investments  {\ref (IFAC, 2007)}.\par
In addition to its role in ensuring uniform accounting practices the IFAC facilitates the structures and processes that support the operations of the International Accounting Education Standards Board (IAESB). The main objective of the IAESB is to serve the international education standards (IAESB, 2012:2). The IAESB develops education standards and provides guidance and information on pre-qualification education, training of professional accountants, and professional education development and endurance (IAESB, 2012:2). In order to ensure the development and maintenance of competence required from professional accountants to perform various roles,the project of the IAESB is to improve the clarity of its standards (IAESB, 2012:5). In 2009 the IAESB completed its revision of the Framework for International Education Standards for Professional Accountants which sets out the fundamental concepts and principles for the International Education Standards (IES) (IAESB, 2012:5). The Framework for International Education Standards for Professional Accountants (2009) identifies general education, professional accounting education, practical experience and assessment as components of the learning and development of a professional accountant. In reaction to the ever-changing global environment the IAESB commenced to revise IES 1 to IES 8, with the goal of ensuring consistency with concepts of the revised framework and improving clarity (IAESB, 2012:5).\par
The extant version of IES 2, Content of Professional Accounting Education Programs,published in May 2004 and effective from January 2005, prescribes an IFAC member body's professional accounting education program content of knowledge required from a candidate to qualify as a professional accountant (IAESB, 2012:5).The title has been amended in the proposed IES 2 (Revised) to Initial Professional Development-Technical Competence, to reflect the IAESB's review that IES 2 is one of the six IESs covering Initial Professional Development (IPD) (IAESB, 2012:6). According to the proposed IES 2 (Revised), IPD is defined as the learning and development process of competence required to perform the various roles of a professional accountant (IAESB, 2012:6). In addition, technical competence is used to describe the ability to apply professional knowledge to perform a role to a defined standard (IAESB, 2012:6). The IAESB decided to adopt a learning outcomes approach in the proposed IES 2 (Revised) by specifying eleven competence areas: (i) financial accounting and reporting, (ii) management accounting, (iii) finance and financial management, (iv) taxation, (v) audit and assurance, (vi) governance, risk management and internal control, (vii) business laws and regulations, (viii) information technology, (ix) business and organizational environment, (x) economics and (xi) business management (IAESB, 2012:7). Furthermore, instead of prescribing knowledge, the IAESB identified fourproficiency levels, namely foundational, intermediate, advance and mastery levelsto demonstrate professional competence  {\ref (IAESB, 2012:20-22)}. In addition the IAESB included two new requirements in the proposed IES 2 (Revised) for IFAC member bodies to regularly review and update professional accounting education programs that are designed to achieve the learning outcomes and to prescribe appropriate assessment activities to assess the development of technical competence in a rapidly changing and complex environment(IAESB, 2012:6). Thus, the IAESBrequires that aspiring professional accountants should be able to demonstratenot only technical competencebut also professional values, ethics, and attitudes(IAESB, 2012:6).\par
From the aforementioned an aspiring professional accountant is firstly described as an individual who has commenced a professional accounting education program as part of IPD. Secondly professional skills are describedas theintellectual, personal, interpersonal, communication and organizational skills that a professional integrates with technical competence and professional values, ethics and attitudes to demonstrate professional competence; and lastly professional accounting education programs are programs designed to support aspiring professional accountants to develop the appropriate professional competence by the end of IPD. They may consist of formal education delivered through degrees and courses offered by universities, other higher education providers, IFAC member bodies and employers, as well as workplace training (IAESB, 2012:9).\par
In order to fulfill the IAESB's desire for the proposed IES 2 (Revised) to be consistently drafted the IAESB is currently considering comments and feedback and the proposed IES 2 (Revised) is expected to be finalized in the third quarter of 2013 and effective for implementation for periods beginning on or after 1 July 2015 (IAESB, 2012:5-7). Comments on matters in the proposed IES 2 (Revised) was addressed in a structure of eight questions and released from October 2012.The results of the eight questions (1-8)from the submitted comment letterscould be briefly summarized as follows:\par
Question 1-The majority of the comments agreed that the eleven competence areas listed in Paragraph 7 of the proposed IES 2 (Revised) captures the breadth of technical competence areas required from aspiring professional accountants. It was however suggested that the sequence of the competence areas should be reviewed and restructured according to necessary educational steps.\par
Questions 2 and 3-A number of comments were made on the adequacy of learning outcomes capturing the minimum level of proficiency and the assistance of the Appendix in the interpretation of the learning outcomes.\par
Questions 4 to 8 -The comments indicated that the objective to be achieved by a member body is The competencies of professional accountants have been challenged by the ever-changing business environment. The skills, understanding and personal attributes to ensure a successful career in the global world are becoming increasingly more important \hyperref[b4]{(Knight \& Yorke, 2004}) Success in the working environment depends on the identification of specific skills and competencies required of employees.In this regard a competency framework is defined as a high level description of competencies (knowledge, skills and attributes) individuals should possess atthe entry point to a particular profession (SAICA, 2010:3). In other words,a competency framework provides thefoundation upon which professions are developedand therefore enables a clear understanding of the required competencies a prospective employee should demonstrate embarking a career (SAICA, 2010:3).\par
Agarwal and Gupta (2008) argue that a gap exists between the students' knowledge after graduation and the practical application thereof in the real-world business.They found that students need to reflect on knowledge before they can apply this knowledge.In an accounting context the theory and practice of a competency framework was primarily built upon the work of the American pragmatist philosopher, John Dewey, who argued that knowledge is gained by combining theory and practice (SAICA, 2010:8).Practicing accountant should have theoretical knowledge and the skill to apply this knowledge in practice (Rudman \& Terblanche, 2012:60-61). According to KPMG (2009) and Price Waterhouse Coopers (2009) knowledge (theoretical aspects) can only be achieved through real-world clients and their specific circumstances. Up until now, researchers found that students can reflect on and apply their theoretical knowledge when applying this knowledge in a business environment  {\ref (} Globalisation is the essence of IFAC and the IAESB's objective to serve the public interest and contribute to the development, implementation and convergence of high-quality international accounting standards. A competency framework in an accounting context should therefore address the challenges arising from the rapidly changing complex environmentto bridge the gap between theory and skillsand to enablestudents to reflect on and apply their theoretical knowledge when applying this knowledge in the business environment. In addition, a competency framework lends strong support to tertiary accounting programmes used to prepare students for the "realworld" working environment and consequently requires accounting courses to be taught using "real-world" scenarios (SAICA 2010:12). In other words, the on-going development of a competency framework for SAIPA promises lucrative results and service of the public interest by setting one set of uniform highqualityaccounting standards, accepted and enforced on a consistent basis amongst international participants (Pendergast et al., 2006:19). 
\section[{II.}]{II.} 
\section[{Problem Statement and Research Objective}]{Problem Statement and Research Objective}\par
The central argument of this study is the existence of a gap between theory and skills and the importance of accounting bodies' requirements to ensure quality education programs in order to comply with the high-quality standards set amongst international participants.In contrast, the majority of SAIPA practices are operating in the small and medium business sector that do not necessarily have an international focus (Dixon,  {\ref Thompson \& McAllister, 2002:27)}.Therefore, the Y 2013 ear ( ) D primary objective of the study is to investigate the foundation upon which SAIPA programs are developed and ask the question whether the on-goingdevelopment and implementation of a competency framework for Professional Accountants (SA) willbe sufficient to bridge the gap between theory and skills. This will also enable professional accounting educators to provide students with the ability to apply the theory they have been taught when they enter the real-world business after graduation. The literature study formed the foundation for the empirical study, which considered the relevance of the IAESB's competency framework in a South African context. Since IES 2 -Initial Professional Development-Technical Competence (Revised) was developed to identify the skills and competencies required to enter the accounting environment the population comprised accounting firms who attended the North West University career expo in 2013. The sample was narrowed down to accounting firms in the small and medium business sector. In this regard the technical competence learning outcomes according to Table A of the proposed IES 2 were sent to 23 accounting firms who were asked to rate the competency areas according to the IAESB's four proficiency levels. Fifteen accounting firms provided feedback (presented in Annexure A). The average rating of the 11 competency areas is presented in Figure \hyperref[fig_2]{1}. 
\section[{III.}]{III.} 
\section[{Data and Methodology}]{Data and Methodology} 
\section[{Global}]{Global}\par
The contribution thereof is that the development and implementation of a competency frameworkaccording to high-qualityinternational accounting standardsfor the professional accountant will enable the professional accountant to respond to the fast-changing environment and be a life-long learner (SAICA, 2010:7). Despite the fact that the competency framework may require re-evaluation from time to time due to the fast-changing social, political and business environment (SAICA, 2010:9), it can enable a clear understanding of the required competencies a professional accountant should demonstrate embarking a career (SAICA, 2010:3). The accounting rated Taxation (2.98) and FinancialAccounting (2.86) as the most important competence areas.Business Laws and Regulations (2.61) were considered the third most important competence area.Governance, Risk Management and Internal Control (2.34) as well as Audit and Assurance (2.27) were also considered important. In contrast, Economics (1.21) and the Business and Organizational Environment (1.59) were not highly rated by the accounting firms.In addition the results revealed that Information Technology (1.91), Management Accounting (1.95) as well as Finance and Financial Management (2.05) are not considered that important by the accounting firms included in the survey. In summary the 11 competency areas could be ranked in the following sequence:  
\section[{Discussion and Conclusion}]{Discussion and Conclusion}\par
In contrast, the accounting firms indicated that information technology was not considered that important. Moreover, the study revealed that only moderate levels of complexity arerequired for Management accounting as well as for Finance and financial management. The lower than expected rating for the aforementioned disciplines could be indicating that financial statements prepared in the small and medium business sector is conformity in nature and that accountants are not involved in the day-to-day management of clients, especially in view of the relatively low rating for Business management; Business and organizational management as well as Economics.\par
In summary the study identified the most important competence areas for accountants in the South African small and medium business sector. The results could be of value to academic institutions developing academic programs and preparing accounting students for the small and medium business sector. In view of the exploratory nature of the study further studies are encouraged, especially in an international context to compare the competency requirements across borders. The evidence suggests that accounting students can expect to provide a combination of accounting and tax consulting services to small and medium businesses in the South African environment. The interpretation of specialized reports included under Financial Accounting was however not considered that important by the accounting firms included in the study. With regards to Taxation, international taxation and the involvement of a tax specialist obtained the lowest ratings. The relevant importance of the regulatory environment in which small and medium businesses operate was also confirmed. Business laws and regulation, Governance, risk management and internal control as well as Audit and assurance were considered to be intermediate to advanced areas.  
\section[{References Références Referencias}]{References Références Referencias} 
\section[{Global Journal of}]{Global Journal of}\begin{figure}[htbp]
\noindent\textbf{}\includegraphics[]{image-2.png}
\caption{\label{fig_0}}\end{figure}
 \begin{figure}[htbp]
\noindent\textbf{}\includegraphics[]{image-3.png}
\caption{\label{fig_1}D}\end{figure}
 \begin{figure}[htbp]
\noindent\textbf{1}\includegraphics[]{image-4.png}
\caption{\label{fig_2}Figure 1 :}\end{figure}
 \begin{figure}[htbp]
\noindent\textbf{1} \par 
\begin{longtable}{P{0.4594594594594595\textwidth}P{0.1072072072072072\textwidth}P{0.2618918918918919\textwidth}P{0.02144144144144144\textwidth}}
Competence area\tabcellsep \multicolumn{2}{l}{Rating Proficiency level}\tabcellsep \\
Taxation\tabcellsep 2.98\tabcellsep Advanced\tabcellsep \\
Financial accounting and reporting Business laws and regulations\tabcellsep 2.89 2.61\tabcellsep Advanced Intermediate to Advance\tabcellsep 2013\\
Governance, risk management and internal control Audit and assurance\tabcellsep 2.34 2.27\tabcellsep Intermediate to Advance Intermediate to Advance\tabcellsep Y ear\\
Business management\tabcellsep 2.18\tabcellsep Intermediate\tabcellsep \\
Finance and financial management\tabcellsep 2.08\tabcellsep Intermediate\tabcellsep \\
Management accounting\tabcellsep 1.95\tabcellsep Intermediate\tabcellsep \\
Information technology\tabcellsep 1.91\tabcellsep Intermediate\tabcellsep \\
Business and organizational environment\tabcellsep 1.59\tabcellsep Foundation to Intermediate\tabcellsep \\
Economics\tabcellsep 1.21\tabcellsep Foundation\tabcellsep \\
IV.\tabcellsep \tabcellsep \tabcellsep \\
\tabcellsep \tabcellsep \tabcellsep ( ) D\end{longtable} \par
 
\caption{\label{tab_1}Table 1 :}\end{figure}
 \begin{figure}[htbp]
\noindent\textbf{} \par 
\begin{longtable}{P{0.020859626980788106\textwidth}P{0.7099425045575656\textwidth}P{0.0016687701584630486\textwidth}P{0.004052727527695975\textwidth}P{0.0011919786846164634\textwidth}P{0.0010727808161548169\textwidth}P{0.0009535829476931706\textwidth}P{0.0004767914738465853\textwidth}P{0.012277380451549571\textwidth}P{0.020978824849249754\textwidth}P{0.020978824849249754\textwidth}P{0.023839573692329266\textwidth}P{0.020621231243864818\textwidth}P{0.011085401766933109\textwidth}}
\tabcellsep \multicolumn{7}{l}{6. CIPFA (CHARTERED INSTITUTE OF PUBLIC Annexure A -Learning Outcomes for Technical Competence Area}\\
\tabcellsep \multicolumn{7}{l}{FINANCE KINGDOM)), 2012. CIPFA response to IAESB AND ACCOUNTANCY (UNITED}\tabcellsep Mean\tabcellsep Min\tabcellsep Max\tabcellsep Variance Standard deviation\\
\tabcellsep \multicolumn{4}{l}{consultation (a) Financial accounting and reporting on the IES}\tabcellsep 2\tabcellsep \multicolumn{2}{l}{exposure}\\
\tabcellsep \multicolumn{7}{l}{draft.http://www.ifac.org/publicationsresources/ies2i (i) Apply accounting principles to transactions and other events}\tabcellsep 3.36\tabcellsep 3.00\tabcellsep 4.00\tabcellsep 0.23\tabcellsep 0.48\\
\tabcellsep \multicolumn{7}{l}{(ii) Apply IFRS or other relevant standards to a range of transactions and other events nitialprofessionaldevelopmenttechnicalcompetence. (iii) Classify financial data appropriately in financial statements Date of access: 15 Jul. 2013. accordance with laws and regulations 7. CPA IN IRELAND (THE INSTITUTE OF CERTIFIED (iv) Prepare primary financial statements, including consolidated financial statements, in}\tabcellsep 3.09 3.18 2.91\tabcellsep 2.00 2.00 1.00\tabcellsep 4.00 4.00 4.00\tabcellsep 0.63 0.51 0.81\tabcellsep 0.79 0.72 0.90\\
\tabcellsep \multicolumn{7}{l}{PUBLIC ACCOUNTANTS IN IRELAND). (v) Evaluate the appropriateness of accounting policies used to prepare financial statements 2012.}\tabcellsep 3.00\tabcellsep 2.00\tabcellsep 4.00\tabcellsep 0.73\tabcellsep 0.85\\
Y 2013 ear 2013 Y ear\tabcellsep \multicolumn{7}{l}{IAESB exposure draft (July 2012) International (vi) Interpret specialized reports including sustainability reports and integrated reports Standard 2 Initial Professional Development-(b) Management accounting Technical Competence (Revised) response and comments from the Institute of Certified Public (i) Apply techniques such as product costing, variance analysis, inventory management, and budgeting and forecasting to improve the performance of an organization (ii) Analyze and integrate financial and nonfinancial data to provide relevant information for Accountants in Ireland. http://www.ifac.org/publicati professionalaccountants;iaesb;ies.onsresources/ies 2initialprofessionaldevelopmenttechnicalcompetenc planning and budgeting, cost management, quality control, performance measurement, and managerial decision making (iii) Prepare reports to support managerial decision making, including reports that focus on}\tabcellsep 1.64 1.91 2.09 2.09\tabcellsep 1.00 1.00 1.00 1.00\tabcellsep 3.00 3.00 3.00 3.00\tabcellsep 0.78 0.45 0.45 0.45\tabcellsep 0.88 0.67 0.67 0.67\tabcellsep 2013 Y ear\\
\tabcellsep \multicolumn{7}{l}{benchmarking e. Date of access: 15 Jul. 2013. (iv) Compare and evaluate the performance of products and business segments 8. DENIS, C., MC MORROW, K. \& ROGER, W. 2006. (c) Finance and financial management}\tabcellsep 1.73\tabcellsep 1.00\tabcellsep 3.00\tabcellsep 0.38\tabcellsep 0.62\\
Volume XIII Issue V Version I ( ) D Volume XIII Issue V Version I ( ) D\tabcellsep \multicolumn{7}{l}{Globalisation: trends, issues and macro implications fortheEU.http://ec.europa.eu/economy\textunderscore finance/publ ications/publication668\textunderscore en.pdf. Date of access: 13 May 2013. 9. DIXON, T., THOMPSON, B. \& McALLISTER, P. 2002. Report for Small Business Service Research Programme.http://www.berr.gov.uk/files/file38315.p df. Date of access: 3 March 2013. 10. ERNST \& YOUNG GLOBAL LIMITED. 2012. Proposed revised International Education Standard 2-Initial Professional Development-Technical Competence(Revised).http://www.ifac.org/publicatio ns-resources/ies-2-initial-professional-development-(i) Compare the various sources of finance available to an organization, including banking finance, financial instruments, and different capital markets (ii) Analyze an organization's cash flow and working capital requirements (iii) Analyze the current and future financial position of an organization, using techniques such as ratio analysis, trend analysis, and cash flow analysis (iv) Evaluate the appropriateness of the components used to calculate an organization's cost of capital (v) Apply appropriate capital budgeting techniques to the evaluation of capital investment decisions (d) Taxation (i) Explain domestic taxation compliance and filing requirements (ii) Prepare tax calculations for direct and indirect taxes for individuals and organizations (iii) Analyze the taxation issues associated with non-complex international transactions (iv) Explain the difference between tax planning, tax avoidance, and tax evasion (v) Identify when it is appropriate to refer matters to taxation specialists (e) Audit and assurance (i) Analyze the risk profile of an entity to identify the components of audit risk}\tabcellsep 2.09 2.27 2.18 2.09 1.64 3.27 3.27 2.45 3.45 2.45 2.36\tabcellsep 1.00 1.00 1.00 1.00 1.00 2.00 2.00 1.00 2.00 1.00 1.00\tabcellsep 3.00 3.00 3.00 3.00 3.00 4.00 4.00 4.00 4.00 3.00 4.00\tabcellsep 0.63 0.38 0.51 0.63 0.41 0.56 0.38 0.61 0.43 0.43 1.32\tabcellsep 0.79 0.62 0.72 0.79 0.64 0.75 0.62 0.78 0.66 0.66 1.15\tabcellsep Volume XIII Issue V Version I ( )\\
Management and Business Research Global Journal of Management and Business Research\tabcellsep \multicolumn{8}{l}{technical-competence. Date of access: 15 Jul. 2013. 11. FORREST, A. 2012. Exposure draft July 2012 IES 2 Initial Professional Development-Technical Competence.http://www.ifac.org/publicationsresour ces/ies-2-initial-professional-development-technical-competence. Date of access: 15 Jul. 2013. 12. HORSTMANN, C.A. 2005. Playing a leadership role in international convergence. Journal of accountancy:98-99. 13. IAESB (INTERNATIONAL ACCOUNTING EDUCATION STANDARDS BOARD). 2012. Exposure draft -Initial Professional Development TechnicalCompetence(Revised).http://www.ifac.opr ofessionalaccountants;iaesb;ies.rg/publicationsreso urces/ies-2-initial-professional-development-technical-competence. Date of access: 15 Jul. 2013. 14. IFAC (INTERNATIONAL FEDERATION OF (ii) Describe the objectives of an audit of financial statements (iii) Describe the activities involved in performing an audit of financial statements (iv) Identify applicable auditing standards (e.g., ISAs), laws and regulations relevant to an audit engagement (v) Understand the key elements of assurance service engagements (2.55 2.45 2.27 2.09 2.18 (ii) Analyze the components of an organization's governance structure 2.27 (iii) Analyze an organization's risks and opportunities within a risk management framework 2.09 (iv) Analyze the components of internal control 2.45 (g) Business laws and regulations (i) Explain the laws and regulations that are relevant to the environment in which professional accountants operate 2.91 (ii) Explain different legal forms of businesses and the legislation and regulations that govern each form 2.55 (iii) Identify when it is appropriate to refer matters to legal specialists for help 2.36 (h) Information technology (i) Describe the basic hardware and software components of information systems 1.91 (ii) Identify general computer controls and application controls required for effective accounting information systems 2.18 (iii) Analyze the adequacy of controls for relevant application systems 1.91 (iv) Explain the components of an information systems continuity plan 1.64}\tabcellsep 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 2.00 1.00 1.00 1.00 1.00 1.00 1.00\tabcellsep 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.00 4.00 3.00 3.00 3.00\tabcellsep 1.16 1.47 1.72 1.60 0.98 1.11 1.17 1.16 0.26 0.79 0.60 0.99 0.51 0.45 0.41\tabcellsep 1.08 1.21 1.31 1.27 0.99 1.05 1.08 1.08 0.51 0.89 0.77 1.00 0.72 0.67 0.64\tabcellsep Global Journal of Management and Business Research\\
\tabcellsep \multicolumn{2}{l}{ACCOUNTANTS).}\tabcellsep 2013a.\tabcellsep \tabcellsep \multicolumn{2}{l}{Adoption}\tabcellsep \&\\
\tabcellsep \multicolumn{7}{l}{implementation.http://www.ifac.org/issuesinsights/a}\\
\tabcellsep \multicolumn{7}{l}{doption-implementation. Date of access: 27 Apr.}\\
\tabcellsep 2013.\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
\tabcellsep 15. IFAC\tabcellsep \multicolumn{2}{l}{(INTERNATIONAL}\tabcellsep \multicolumn{3}{l}{FEDERATION}\tabcellsep OF\\
\tabcellsep \multicolumn{2}{l}{ACCOUNTANTS).}\tabcellsep \multicolumn{5}{l}{2013b.Organization overview.}\end{longtable} \par
  {\small\itshape [Note: DAnnexure A -]} 
\caption{\label{tab_3}f) Governance, risk management and internal control}\end{figure}
 \begin{figure}[htbp]
\noindent\textbf{} \par 
\begin{longtable}{P{0.6931865828092243\textwidth}P{0.023759608665269043\textwidth}P{0.030293501048218027\textwidth}P{0.030293501048218027\textwidth}P{0.03860936408106219\textwidth}P{0.03385744234800839\textwidth}}
\tabcellsep Mean\tabcellsep Min\tabcellsep Max\tabcellsep \multicolumn{2}{l}{Variance Standard}\\
\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep deviation\\
(i) Business and organizational environment\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
\multicolumn{2}{l}{(i) 2.00}\tabcellsep 1.00\tabcellsep 3.00\tabcellsep 0.36\tabcellsep 0.60\\
(ii) Analyze key features in the global environment that affect international trade and finance\tabcellsep 1.45\tabcellsep 1.00\tabcellsep 2.00\tabcellsep 0.25\tabcellsep 0.50\\
(iii) Explain the impact of legal, political, cultural, and technological contexts on the\tabcellsep 1.55\tabcellsep 1.00\tabcellsep 3.00\tabcellsep 0.43\tabcellsep 0.66\\
processes of internationalization of an organization\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
(iv) Identify the characteristic features of globalization, including the role of multinationals, e-\tabcellsep 1.36\tabcellsep 1.00\tabcellsep 2.00\tabcellsep 0.23\tabcellsep 0.48\\
commerce and emerging markets\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
(j) Economics\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
(i) Describe the fundamental principles of microeconomics and macroeconomics\tabcellsep 1.09\tabcellsep 1.00\tabcellsep 2.00\tabcellsep 0.08\tabcellsep 0.29\\
(ii) Interpret the effect of movements in key indicators of microeconomic and\tabcellsep 1.09\tabcellsep 1.00\tabcellsep 2.00\tabcellsep 0.08\tabcellsep 0.29\\
macroeconomic activity\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
(iii) Explain the competitive environment facing organizations under different types of market\tabcellsep 1.45\tabcellsep 1.00\tabcellsep 3.00\tabcellsep 0.43\tabcellsep 0.66\\
structures, including competitive markets, monopoly, monopolistic competition, and\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
oligopoly\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
(k) Business management\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
(i) Explain the various ways that organizations may be designed and structured\tabcellsep 2.27\tabcellsep 1.00\tabcellsep 3.00\tabcellsep 0.56\tabcellsep 0.75\\
\multicolumn{2}{l}{(ii) 2.27}\tabcellsep 1.00\tabcellsep 3.00\tabcellsep 0.56\tabcellsep 0.75\\
(iii) Explain the external and internal factors that may influence the formulation of an\tabcellsep 2.27\tabcellsep 1.00\tabcellsep 4.00\tabcellsep 1.29\tabcellsep 1.14\\
organization's strategy\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
(iv) Analyze relevant factors in the internal and external business environment that impact\tabcellsep 2.09\tabcellsep 1.00\tabcellsep 3.00\tabcellsep 0.81\tabcellsep 0.90\\
on managerial work and organizational performance\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
\multicolumn{2}{l}{(v) 2.00}\tabcellsep 1.00\tabcellsep 3.00\tabcellsep 0.73\tabcellsep 0.85\\
Legends:\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
1\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \end{longtable} \par
 
\caption{\label{tab_4}Learning Outcomes for Technical Competence Area (continued)}\end{figure}
 			\footnote{© 2013 Global Journals Inc. (US)} 		 		\backmatter  			 			 			  				\begin{bibitemlist}{1}
\bibitem[ Southern African journal of accountability and auditing research]{b12}\label{b12} 	 		\textit{},  	 	 		\textit{Southern African journal of accountability and auditing research}  		13 p. .  	 
\bibitem[Noor (2012)]{b7}\label{b7} 	 		\textit{Comments on proposed International Education Standard (IES) 2 Initial Professional Development -Technical Competence},  		 			Ali Noor 		,  		 			A 		.  		 \url{http://www.ifac.org/publicationsresources/ies2initialprofessionaldevelopmenttechnicalcompetence.Dateofaccess}  		2012. Jul. 2013. p. 15.  	 
\bibitem[O'loughlin (2012)]{b8}\label{b8} 	 		\textit{Comments on proposed International Education Standard IES 2},  		 			R O'loughlin 		.  		 \url{http://www.ifac.org/publications-resources/ies2initialprofessionaldevelopmenttechnical-competenceDate}  		2012. Jul. 2013. p. 15.  	 	 (Technical Competence) 
\bibitem[Ng (2012)]{b6}\label{b6} 	 		\textit{Comments on the IAESB's exposure draft of the IES 2, Initial Professional Development-TechnicalCompetence},  		 			J Ng 		.  		 \url{http://www.ifac.org/}  		2012. Jul. 2013. p. 15.  	 	 (publications-resources/ies-2-initial-professionaldevelopment-technical-competence) 
\bibitem[Competency framework detailed guidance for academic programmes (2010)]{b15}\label{b15} 	 		\textit{Competency framework detailed guidance for academic programmes},  		 \url{https://www.saica.co.za/Portals/0/LearnersStudents/documents/INTEGRITAS-292277.pdf.Dateofaccess}  		2010. April 2013. p. 27.  	 	 (SAICA (SOUTH AFRICAN INSTITUTE OF CHARTED ACCOUNTANTS)) 
\bibitem[Malley (2012)]{b5}\label{b5} 	 		\textit{Exposure draft: proposed International Education Standard (IES) 2 Initial Professional Development -Technical Competence},  		 			A Malley 		.  		 \url{http://www.ifac.org/publications-resources/ies-2-initial-professional-development-technical-competence}  		2012. July 2013. p. 15.  	 
\bibitem[Johnson (2012)]{b2}\label{b2} 	 		\textit{FEE comments on the IAESB exposure draft on the proposed IES 2-Initial Professional Development-Technical Competence},  		 			P Johnson 		.  		 \url{http://www.ifac.org/publicationsresources/ies-2-initial-professional-development-technical-competenceDate}  		2012. Jul. 2013. p. 15.  	 
\bibitem[O'loughlin et al. ()]{b9}\label{b9} 	 		‘Harmonisation of Independence Standards for Accountants-Around the world’.  		 			R O'loughlin 		,  		 			M A Pendergast 		,  		 			C P A Partner 		,  		 			K Urbach 		,  		 			L L P Werlin 		.  		 \url{http://www.ifac.org/publications-resources/ies-2-initialprofessionaldevelopment25}  	 	 		\textit{The Professional Accountant}  		2012. 2006. 3 p. .  	 	 (Technical Competence) 	 (Comments on proposed International Education Standard IES 2) 
\bibitem[IFAC: 30 years of progress-Encouraging quality and building trust (2007)]{b0}\label{b0} 	 		\textit{IFAC: 30 years of progress-Encouraging quality and building trust},  		 \url{http://220.227.161.86/12432announ1270.pdf.Dateofaccess}  		27 Apr. 2013. 2007. May 2013. 16 p. 13.  	 	 (IFAC (INTERNATIONAL FEDERATION OF ACCOUNTANTS)) 
\bibitem[Kato (2012)]{b3}\label{b3} 	 		\textit{JICPA comments on the exposure draft, proposed International Education Standard (IES) 2 Initial Professional Development -Technical Competence},  		 			T Kato 		.  		 \url{http://www.ifac.org/publicationsresources/ies-2-initial-professional-development-technical-competence.Dateofaccess}  		2012. July 2013. p. 15.  	 
\bibitem[Knight and Yorke ()]{b4}\label{b4} 	 		\textit{Learning, curriculum and employability in higher education},  		 			P T Knight 		,  		 			M Yorke 		.  		2004. London: Routledge Falmer.  	 
\bibitem[Jackson ()]{b1}\label{b1} 	 		‘New companies Act should mean additional business for SAIPA members’.  		 			D Jackson 		.  	 	 		\textit{Official journal of the South African Institute of Professional Accountants}  		2010. 4 p. .  	 
\bibitem[Rudman and Terblanche ()]{b13}\label{b13} 	 		‘Practical role-play as an extension to theoretical audit education: a conceptualising aid’.  		 			R J Rudman 		,  		 			J Terblanche 		.  	 	 		\textit{Southern African journal of accountability and auditing research}  		2011. 11 p. .  	 
\bibitem[SAICA (SOUTH AFRICAN INSTITUTE OF CHARTED ACCOUNTANTS) ()]{b14}\label{b14} 	 		\textit{SAICA (SOUTH AFRICAN INSTITUTE OF CHARTED ACCOUNTANTS)},  		2013.  	 	 (SAICA: Mission) 
\bibitem[SAIPA see SOUTH AFRICAN INSTITUTE OF]{b16}\label{b16} 	 		\textit{SAIPA see SOUTH AFRICAN INSTITUTE OF},  		 	 
\bibitem[Rudman and Terblanche ()]{b11}\label{b11} 	 		\textit{The perceived advantage of work experience as a learning tool for university auditing students},  		 			R J Rudman 		,  		 			J Terblanche 		.  		2012.  	 
\bibitem[Retief ()]{b10}\label{b10} 	 		‘The roots of accounting-The second oldest profession in the world’.  		 			E Retief 		.  	 	 		\textit{Official journal of the South African Institute of Professional Accountants}  		2012. 4 p. .  	 
\end{bibitemlist}
 			 		 	 
\end{document}
