The University of the West Indies (Mona) now has an Accounting Co-op Programme, which it says responds to the demand for ‘experienced’ graduates "by aligning students with partner companies to gain invaluable work experience as well as the opportunity to earn as they study"
This initiative, launched earlier this month, is the product of collaboratiion betwee the UWI and public and private sector agencies. It is offering accounting students at the Mona School of Business & Management (MSBM) what is being touted as an opportunity "to graduate with a skill and experience level a cut above the rest"
Paradigm shift
The programme, which was piloted earlier this year by the Ernst and Young office in Jamaica, represents what is being described as "a paradigm shift as the UWI reinforces its commitment to producing work ready graduates by creating platforms for on-the-job training”.
A Memorandum of Understanding was signed on Tuesday 5 November, 2013 by the UWI and Ernst & Young at the launch of the programme. In addition to Ernst and Young, both Price Waterhouse Coppers (PWC) and Tax Administration Jamaica (TAJ) have expressed an interest in participating in the programme within the coming months and it is expected that a 40-50 UWI students will receive paid placements through the UWI Accounting Co-Op Programme commencing in January 2014.
Participating students will have had the benefit of up to 12 months of work experience by the time they complete their undergraduate degrees.
Achieving balance
Professor Archibald McDonald, Principal and Pro-Vice Chancellor of The UWI, Mona, speaking at the launch event, emphasized the importance of ensuring a balance between ‘qualifications’ and competency based training. “This amalgamation of theory and practice into the structure of MSBM programmes has had a highly beneficial impact on the quality of The UWI’s degree programmes, and the knowledge and professional confidence of our graduating students" he said.
Allison Peart, Country Managing Partner at Ernst & Young Jamaica, is one of the chief architects of the programme. She asserted that the UWI "is responding to changes in the work environment to produce work ready graduates and is willing to work with the private sector to meet the needs of employers for experienced employees. Furthermore, she noted, "the university will produce students with work experience, students get money while in school plus on the job experience, while employers get staff during the busy audit, accounting & tax period from January to April when they need the help most.”
Admission to the Co-Op initiative is open to full time students enrolled in MSBM’s Accounting programme who have a minimum 3.0 GPA and have completed the requisite Level 1 courses. Students will fulfill their work component during the regular school semester and continue their academic course of study during the summer. Students are then graded by their employers and monitored by The UWI.
Professor Densil Williams, Executive Director at MSBM said the initiative was reflective of the university's drive "to recognize and implement innovative and globally relevant ways to prepare students for tomorrow.”
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