CHAIRPERSON'S

REVIEW

CHAIRPERSON'S REVIEW

Mr Vincent Mohau Motholo

SAICA Board Chairman (See Vincent’s bio)

“At SAICA, we believe that Chartered Accountants make a meaningful difference in the world.  They are driven to create positive change recognising that our past has excluded many from the benefits of citizenship. The present is a product of the that past, but difference makers strive to build a better future for society.”

As I reflect on the year under review, I am especially thrilled that after a two-year hiatus due to the pandemic, the South African economy finally opened up, allowing us the long-awaited opportunity to engage face to face with our members and broader stakeholders both locally and abroad.

 

As a result of the pandemic, we have all had to adapt to virtual communication platforms and remote work arrangements, which have been essential for maintaining business continuity. However, nothing can replace the value of meeting in person, and we were excited to be able to do so once again.

Mr Vincent Mohau Motholo

SAICA Board Chairman (See Vincent’s bio)

“At SAICA, we believe that Chartered Accountants make a meaningful difference in the world.  They are driven to create positive change recognising that our past has excluded many from the benefits of citizenship. The present is a product of the that past, but difference makers strive to build a better future for society.”

As I reflect on the year under review, I am especially thrilled that after a two-year hiatus due to the pandemic, the South African economy finally opened up, allowing us the long-awaited opportunity to engage face to face with our members and broader stakeholders both locally and abroad.

 

As a result of the pandemic, we have all had to adapt to virtual communication platforms and remote work arrangements, which have been essential for maintaining business continuity. However, nothing can replace the value of meeting in person, and we were excited to be able to do so once again.

DIFFERENCE MAKERS ECONOMIC CONFERENCE

Our country is facing numerous challenges, including high levels of unemployment, low economic growth, disrupted energy supplies, water shortages, a deteriorating infrastructure, rising corruption and crime, and failings in the public education system.

These challenges threaten our social cohesion and constitutional democracy. As leaders, it is our responsibility to take action and contribute towards the achievement of a successful country. It is irresponsible to expect that government should undertake the fulfilment of this on its own.

At SAICA, we recognise that we, our members, and all other business enterprises constitute our country, along with government and civil society. We understand the important role we have to play in advocating for change and serving as change agents to contribute to getting the country back on the path of economic development and growth. We will use our positions of influence as industry leaders to make a real difference and positive impact on society.
To this end, we recently hosted the Difference Makers Economic Conference in KwaZulu-Natal, which brought together our members and key stakeholders to identify key challenges and goals for economic development. The outcomes of this conference informed an Economic Blueprint, which will influence SAICA’s strategy and drive the economic relevance of our profession. The blueprint also creates an ecosystem for members to get involved and make a difference via the Difference Makers campaign. Read more about these challenges and goals.

This is just the beginning of our journey to make a real impact that matters in our society, to be Difference Makers − a difference that will elevate our noble profession as well as our beautiful country to new heights. We believe that by working together, we can make a meaningful contribution towards the growth and success of our nation. The formalised Sustainability Technical Committee will provide thought leadership and advocacy covering sustainability, reporting, and assurance relating to ESG and integrated thinking. Read more about our commitment to advance the SDGs we have prioritised on.

DIFFERENCE MAKERS ECONOMIC CONFERENCE

Our country is facing numerous challenges, including high levels of unemployment, low economic growth, disrupted energy supplies, water shortages, a deteriorating infrastructure, rising corruption and crime, and failings in the public education system.

These challenges threaten our social cohesion and constitutional democracy. As leaders, it is our responsibility to take action and contribute towards the achievement of a successful country. It is irresponsible to expect that government should undertake the fulfilment of this on its own.

At SAICA, we recognise that we, our members, and all other business enterprises constitute our country, along with government and civil society. We understand the important role we have to play in advocating for change and serving as change agents to contribute to getting the country back on the path of economic development and growth. We will use our positions of influence as industry leaders to make a real difference and positive impact on society.
To this end, we recently hosted the Difference Makers Economic Conference in KwaZulu-Natal, which brought together our members and key stakeholders to identify key challenges and goals for economic development. The outcomes of this conference informed an Economic Blueprint, which will influence SAICA’s strategy and drive the economic relevance of our profession. The blueprint also creates an ecosystem for members to get involved and make a difference via the Difference Makers campaign. Read more about these challenges and goals.

This is just the beginning of our journey to make a real impact that matters in our society, to be Difference Makers − a difference that will elevate our noble profession as well as our beautiful country to new heights. We believe that by working together, we can make a meaningful contribution towards the growth and success of our nation. The formalised Sustainability Technical Committee will provide thought leadership and advocacy covering sustainability, reporting, and assurance relating to ESG and integrated thinking. Read more about our commitment to advance the SDGs we have prioritised on.

IN RECOGNITION OF OUR DIFFERENCE MAKERS

Chairman’s Difference Makers Awards

As leaders, it is important that we act on our noble causes and plans to make a difference. At SAICA, we believe that the true measure of leadership lies in the actions we take. In May 2022, we recognised 11 of our members at the inaugural Chairman’s Difference Makers Awards Dinner.

 

The second round of this event will take place at a formal awards ceremony following the AGM on 25 May 2023 where our winners will be announced.

 

In 2021, SAICA launched the Difference Makers organising concept in alignment with Chartered Accountant Worldwide’s global brand positioning strategy. The aim was to showcase the real-life stories of our members making a sustainable difference that yields positive business, social, and economic returns for all – a difference that will elevate the noble accountancy profession and South Africa.

IN RECOGNITION OF OUR DIFFERENCE MAKERS

Chairman’s Difference Makers Awards

As leaders, it is important that we act on our noble causes and plans to make a difference. At SAICA, we believe that the true measure of leadership lies in the actions we take. In May 2022, we recognised 11 of our members at the inaugural Chairman’s Difference Makers Awards Dinner.

 

The second round of this event will take place at a formal awards ceremony following the AGM on 25 May 2023 where our winners will be announced.

 

In 2021, SAICA launched the Difference Makers organising concept in alignment with Chartered Accountant Worldwide’s global brand positioning strategy. The aim was to showcase the real-life stories of our members making a sustainable difference that yields positive business, social, and economic returns for all – a difference that will elevate the noble accountancy profession and South Africa.

Top-35-Under-35

I am pleased to inform you about our annual Top-35-Under-35 competition, which recognises young CAs(SA) achievers who excel in their professional capacity and make a meaningful contribution to society. In December, we held the 9th edition of the competition, where a diverse, multi-disciplinary judging panel considered our winners as the cream of the crop among this year’s contenders.

The 35 finalists represent individuals who have excelled and moved swiftly through the ranks to lead operations within their organisations. We are proud to showcase their outstanding achievements and contributions to society. I encourage you to read more about our overall winner on this link.

Additionally, throughout this report, you will find inspiring Difference Makers stories, which further demonstrate the impact of our members’ efforts to make a positive difference.

Top-35-Under-35

I am pleased to inform you about our annual Top-35-Under-35 competition, which recognises young CAs(SA) achievers who excel in their professional capacity and make a meaningful contribution to society. In December, we held the 9th edition of the competition, where a diverse, multi-disciplinary judging panel considered our winners as the cream of the crop among this year’s contenders.

The 35 finalists represent individuals who have excelled and moved swiftly through the ranks to lead operations within their organisations. We are proud to showcase their outstanding achievements and contributions to society. I encourage you to read more about our overall winner on this link.

Additionally, throughout this report, you will find inspiring Difference Makers stories, which further demonstrate the impact of our members’ efforts to make a positive difference.

CELEBRATING 20 YEARS OF THUTHUKA

Providing access to education and skills development for all is critical to unlocking growth on the continent.

Currently, there is a shortage of skilled professionals in South Africa and our profession is not immune to this challenge. The learning environment for trainees joining the profession has become increasingly complex due to emigration, remote study, and remote work.

In this context, I want to highlight the critical role played by the Thuthuka Education Upliftment Fund (TEUF) in the development and continuity of a strong pipeline of successful chartered accountants. In this context, I want to highlight the critical role played by the Thuthuka Education Upliftment Fund (TEUF) in the development and continuity of a strong pipeline of successful chartered accountants. It is heartening to note that TEUF has been in operation for 20 years and has exceeded all expectations.
Play Video
The impact of TEUF is twofold. Firstly, it provides opportunities for previously disadvantaged African and Coloured school learners to pursue careers in chartered accountancy, and secondly, it helps to address the shortage of skilled professionals in the field.

Due to the recent decision by NSFAS to not fund postgraduate studies, several PGDA students have lost their funding. This is a significant concern as completing PGDA is crucial for students to become chartered accountants. The lack of funding options is putting pressure on affected students and may hinder their ability to successfully complete their studies this year. While we appreciate that many organisations already contribute to Thuthuka, I am now requesting your assistance in supporting these students and finding viable funding solutions.

CELEBRATING 20 YEARS OF THUTHUKA

Play Video
Providing access to education and skills development for all is critical to unlocking growth on the continent.

Currently, there is a shortage of skilled professionals in South Africa and our profession is not immune to this challenge. The learning environment for trainees joining the profession has become increasingly complex due to emigration, remote study, and remote work.

In this context, I want to highlight the critical role played by the Thuthuka Education Upliftment Fund (TEUF) in the development and continuity of a strong pipeline of successful chartered accountants. In this context, I want to highlight the critical role played by the Thuthuka Education Upliftment Fund (TEUF) in the development and continuity of a strong pipeline of successful chartered accountants. It is heartening to note that TEUF has been in operation for 20 years and has exceeded all expectations.
The impact of TEUF is twofold. Firstly, it provides opportunities for previously disadvantaged African and Coloured school learners to pursue careers in chartered accountancy, and secondly, it helps to address the shortage of skilled professionals in the field.

Due to the recent decision by NSFAS to not fund postgraduate studies, several PGDA students have lost their funding. This is a significant concern as completing PGDA is crucial for students to become chartered accountants. The lack of funding options is putting pressure on affected students and may hinder their ability to successfully complete their studies this year. While we appreciate that many organisations already contribute to Thuthuka, I am now requesting your assistance in supporting these students and finding viable funding solutions.

FOCUS ON EDUCATION

Following the regrettable disruption during the APC sitting on 1 December 2021, we made it a priority to address the issue by implementing immediate processes to oversee the investigations and take the necessary actions.

To obtain a detailed understanding of the events and individuals involved, we instructed an independent forensic investigation team consisting of legal and forensic experts. Appropriate disciplinary actions were taken against employees implicated in the investigations based on their involvement and accountability. To ensure a smooth examination process, the Education and Assessment Board Sub-committee was established to provide oversight. I am pleased to report that both the rewrite of the APC exams in March and subsequent exams in December were carried out without incident.

STRATEGIC PRIORITIES

The Board has effectively overseen SAICA’s strategic progress, and tracked balanced scorecard metrics, and significant strides have been made in most areas. Notably, we achieved a B-BBEE level 4 rating this year, a considerable improvement from level 8 in 2021, thanks to our strong emphasis on skills development. See the SETCO report. Our efforts to enhance the reputation of CAs(SA), which is vital to our members’ value and relevance, have yielded positive results. Our brand and trust scores remain robust, and we have seen an increase in favourable media coverage. During my visits to Europe, the Netherlands, and Australia, I was encouraged by the global recognition and esteem our CA(SA) designation commands, offering our members numerous employment opportunities. Unfortunately, we faced a setback in our Ushintsho digitisation project, failing to meet our goals. However, we have since re-evaluated our service provider and committed to meeting the project’s milestones successfully.

FOCUS ON EDUCATION

Following the regrettable disruption during the APC sitting on 1 December 2021, we made it a priority to address the issue by implementing immediate processes to oversee the investigations and take the necessary actions.

To obtain a detailed understanding of the events and individuals involved, we instructed an independent forensic investigation team consisting of legal and forensic experts. Appropriate disciplinary actions were taken against employees implicated in the investigations based on their involvement and accountability. To ensure a smooth examination process, the Education and Assessment Board Sub-committee was established to provide oversight. I am pleased to report that both the rewrite of the APC exams in March and subsequent exams in December were carried out without incident.

STRATEGIC PRIORITIES

The Board has effectively overseen SAICA’s strategic progress, and tracked balanced scorecard metrics, and significant strides have been made in most areas. Notably, we achieved a B-BBEE level 4 rating this year, a considerable improvement from level 8 in 2021, thanks to our strong emphasis on skills development. See the SETCO report. Our efforts to enhance the reputation of CAs(SA), which is vital to our members’ value and relevance, have yielded positive results. Our brand and trust scores remain robust, and we have seen an increase in favourable media coverage. During my visits to Europe, the Netherlands, and Australia, I was encouraged by the global recognition and esteem our CA(SA) designation commands, offering our members numerous employment opportunities. Unfortunately, we faced a setback in our Ushintsho digitisation project, failing to meet our goals. However, we have since re-evaluated our service provider and committed to meeting the project’s milestones successfully.

GOVERNANCE TO SUPPORT VALUE CREATION

The Board approved the formalisation of two additional Board Sub-committees to ensure open communication and governance oversight by the Board on matters of strategic importance. These were the Education and Assessment Committee and Ad-hoc Tax Practitioners Committee.

OUTLOOK

A key focus in 2023 is a refresh of the SAICA strategy through a comprehensive process to ensure the institute remains relevant beyond 2023. SAICA will follow an open strategy formulation process, inviting members and key stakeholders to participate in shaping the future strategy.

 

The Economic Blueprint will be a major consideration to influence the strategy of SAICA and drive the economic relevance of the profession. It will also serve as a guideline for members to make informed economic and business decisions.

GOVERNANCE TO SUPPORT VALUE CREATION

The Board approved the formalisation of two additional Board Sub-committees to ensure open communication and governance oversight by the Board on matters of strategic importance. These were the Education and Assessment Committee and Ad-hoc Tax Practitioners Committee.

OUTLOOK

A key focus in 2023 is a refresh of the SAICA strategy through a comprehensive process to ensure the institute remains relevant beyond 2023. SAICA will follow an open strategy formulation process, inviting members and key stakeholders to participate in shaping the future strategy.

 

The Economic Blueprint will be a major consideration to influence the strategy of SAICA and drive the economic relevance of the profession. It will also serve as a guideline for members to make informed economic and business decisions.

APPRECIATION

Thank you to the SAICA Board for their dedication evidenced by meticulous preparation, rigorous discussions, and willingness to challenge the status quo for the betterment of the profession.

Appreciation also goes to committee members, management and staff for their hard work in rebuilding our brand and contributing to our success. Thanks to partner organisations for the invaluable support and stakeholder engagement.

Our members outstanding work demonstrates the profession’s ability to lead and influence. My sincere appreciation also goes out to SAICA members who selflessly devote their time to serve on various committees, promoting the integrity and resilience of our profession. Let’s continue to make a positive impact and secure the profession’s sustainability.

In the words of Dr Martin Luther King Jr, remember to ‘Be a Bush if you can’t be a tree. If you can’t be a highway, just be a trail.  If you can’t be the sun, be a star. For it isn’t by size that you win or fall.

APPRECIATION

Thank you to the SAICA Board for their dedication evidenced by meticulous preparation, rigorous discussions, and willingness to challenge the status quo for the betterment of the profession.

Appreciation also goes to committee members, management and staff for their hard work in rebuilding our brand and contributing to our success. Thanks to partner organisations for the invaluable support and stakeholder engagement.

Our members outstanding work demonstrates the profession’s ability to lead and influence. My sincere appreciation also goes out to SAICA members who selflessly devote their time to serve on various committees, promoting the integrity and resilience of our profession. Let’s continue to make a positive impact and secure the profession’s sustainability.

In the words of Dr Martin Luther King Jr, remember to ‘Be a Bush if you can’t be a tree. If you can’t be a highway, just be a trail.  If you can’t be the sun, be a star. For it isn’t by size that you win or fall.

Mr Vincent Motholo

SAICA Board Chairperson

Mr Vincent Motholo

SAICA Board Chairperson

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SAICA Integrated Report 2022.
All Rights Reserved.

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SAICA Integrated Report 2022. All Rights Reserved.

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