HIGHEST STANDARDS

OF GOVERNANCE

HIGHEST STANDARDS OF GOVERNANCE

GOVERNANCE OF FUNCTIONAL AREAS

BOARD COMMITTEE REPORTS

Board Committee Focus 2022 and Outlook for the Year Ahead 2023

GOVERNANCE OF FUNCTIONAL AREAS

BOARD COMMITTEE REPORTS

Board Committee Focus 2022 and Outlook for the Year Ahead 2023

Digital Transformation Governance Committee (DTGC)

Chairperson – Babalwa Bekwa

MEMBERS AS AT 1 JANUARY 2022 TO 31 DECEMBER 2022

  • Babalwa Bekwa – 100% Attendance
  • Bonolo Ramokhele (Until 26 May 2022) – 100% Attendance
  • Brenda Tsvetu (Until 6 June 2022) – 100% Attendance
  • Dheren Singh (From 6 June 2022) – 100% Attendance
  • Sibonelo Cyril Madiba (From 6 June 2022) – 100% Attendance

Committee purpose and how it contributes to value generation

The overarching role of the DTGC Committee entails assisting the Board in providing independent oversight of SAICA’s strategic direction and investment in digital transformation and technology, ensuring effective planning, development, implementation, and monitoring and maintenance of the overall technical assets of the digital transformation strategy, including, but not limited to, applications, integration, business process re-engineering, organisational change and business model revamp. It also oversees building and recruiting digital capabilities (both human and computerised) to facilitate the achievement of SAICA’s strategic objectives.


Key initiatives include the transformation of how members experience and engage with SAICA digitally, legacy systems eradication, and improved internal processes to ensure that members’ needs are attended to speedily.

Declaration

The committee met four times and reports that for the year ended 31 December 2022, it is satisfied that it has fulfilled its responsibilities in accordance with the Companies Act, the Board Charter, the Committee Terms of Reference, King IV™ and other applicable standards and codes.

Critical delays and instability of the Ushintsho project

At the beginning of 2022, the Ushintsho programme was slowly solving challenges due to the shortage of key skill sets to ensure that SAICA’s technology investment is well resourced and future proofed. A high staff turnover in 2021 in the IT division had exacerbated this challenge and recovery was slow. This delayed SAICA’s strategy which is to increase member value through digital member journeys that enhance engagement, convenience and delight.

The committee noted delays of close to 12 months for the delivery of Stage 2 of the Ushintsho Project with two out of the nine releases in Stage 2 put on hold. Value planned to be delivered in April 2022 was deferred to 2023. Appointment of a new CIO in March 2022 saw more traction and focus in resuscitating the project with a dysfunctional engagement with the then appointed service provider. This came with an escalation to Microsoft SA.

The second half of 2022 saw the beginnings of a turnaround as a new service provider was appointed who successfully ploughed through all the stagnant release items, including the releases put on hold. A highlight here includes the bringing forward of the Finance modules to ensure processes were reviewed and modernised in 2022.

Critical IT skills

The committee registered its concern about challenges in retaining critical skills in the IT department with the Board following international post-COVID trends of ‘great resignation’ and ‘quiet quitting’ that saw employees resigning in droves, as well as lowered levels of engagement that saw employees giving less of their discretionary time.

Cybersecurity and vulnerability management

The committee considered:
  • SAICA’s robust security strategy and related initiatives which are underway
  • The implementation by the Managed Security Operations Centre (MSOC) of the following:
    • Real-time, 24/7 threat monitoring, detection, response, and analysis with actionable intelligence to enable the SAICA IT teams to effectively and quickly resolve issues as they arise
    • A review of the need for a cyber and information security officer (CISO) to ensure that IT and cybersecurity risks are identified and addressed timeously
The continued implementation of the Ushintsho project Consideration and monitoring of progress being made by the new service provider to implement the remaining components of the Ushintsho project. For benefits to be derived in 2023 and 2024 see link.

Legacy eradication
In 2023, SAICA will be able to decommission the application and infrastructure layers on iMIS. The removal of these assets in the SAICA landscape will ultimately lower the SAICA risk profile in this regard. Stage 3 will also bring about other applications being decommissioned and will ensure that the total cost of ownership is more optimised for SAICA.

Cybersecurity and vulnerability management
Monitoring of SAICA’s proactive awareness and maturity, which are improving monthly.

RISKS

CAPITALS

KING IV

STAKEHOLDERS

  • Internal − Members, CEO, COO, Board Secretary, National Council, MANCO and SAICA-controlled entities
  • External − IRBA and other regulators

Ms Babalwa Bekwa

Chairperson

Digital Transformation Governance Committee (DTGC)

Chairperson – Babalwa Bekwa

MEMBERS AS AT 1 JANUARY 2022 TO 31 DECEMBER 2022

  • Babalwa Bekwa – 100% Attendance
  • Bonolo Ramokhele (Until 26 May 2022) – 100% Attendance
  • Brenda Tsvetu (Until 6 June 2022) – 100% Attendance
  • Dheren Singh (From 6 June 2022) – 100% Attendance
  • Sibonelo Cyril Madiba (From 6 June 2022) – 100% Attendance

Committee purpose and how it contributes to value generation

The overarching role of the DTGC Committee entails assisting the Board in providing independent oversight of SAICA’s strategic direction and investment in digital transformation and technology, ensuring effective planning, development, implementation, and monitoring and maintenance of the overall technical assets of the digital transformation strategy, including, but not limited to, applications, integration, business process re-engineering, organisational change and business model revamp. It also oversees building and recruiting digital capabilities (both human and computerised) to facilitate the achievement of SAICA’s strategic objectives.


Key initiatives include the transformation of how members experience and engage with SAICA digitally, legacy systems eradication, and improved internal processes to ensure that members’ needs are attended to speedily.

Declaration

The committee met four times and reports that for the year ended 31 December 2022, it is satisfied that it has fulfilled its responsibilities in accordance with the Companies Act, the Board Charter, the Committee Terms of Reference, King IV™ and other applicable standards and codes.

Critical delays and instability of the Ushintsho project

At the beginning of 2022, the Ushintsho programme was slowly solving challenges due to the shortage of key skill sets to ensure that SAICA’s technology investment is well resourced and future proofed. A high staff turnover in 2021 in the IT division had exacerbated this challenge and recovery was slow. This delayed SAICA’s strategy which is to increase member value through digital member journeys that enhance engagement, convenience and delight.

The committee noted delays of close to 12 months for the delivery of Stage 2 of the Ushintsho Project with two out of the nine releases in Stage 2 put on hold. Value planned to be delivered in April 2022 was deferred to 2023. Appointment of a new CIO in March 2022 saw more traction and focus in resuscitating the project with a dysfunctional engagement with the then appointed service provider. This came with an escalation to Microsoft SA.

The second half of 2022 saw the beginnings of a turnaround as a new service provider was appointed who successfully ploughed through all the stagnant release items, including the releases put on hold. A highlight here includes the bringing forward of the Finance modules to ensure processes were reviewed and modernised in 2022.

Critical IT skills

The committee registered its concern about challenges in retaining critical skills in the IT department with the Board following international post-COVID trends of ‘great resignation’ and ‘quiet quitting’ that saw employees resigning in droves, as well as lowered levels of engagement that saw employees giving less of their discretionary time.

Cybersecurity and vulnerability management

The committee considered:
  • SAICA’s robust security strategy and related initiatives which are underway
  • The implementation by the Managed Security Operations Centre (MSOC) of the following:
    • Real-time, 24/7 threat monitoring, detection, response, and analysis with actionable intelligence to enable the SAICA IT teams to effectively and quickly resolve issues as they arise
    • A review of the need for a cyber and information security officer (CISO) to ensure that IT and cybersecurity risks are identified and addressed timeously
The continued implementation of the Ushintsho project Consideration and monitoring of progress being made by the new service provider to implement the remaining components of the Ushintsho project. For benefits to be derived in 2023 and 2024 see link.

Legacy eradication
In 2023, SAICA will be able to decommission the application and infrastructure layers on iMIS. The removal of these assets in the SAICA landscape will ultimately lower the SAICA risk profile in this regard. Stage 3 will also bring about other applications being decommissioned and will ensure that the total cost of ownership is more optimised for SAICA.

Cybersecurity and vulnerability management
Monitoring of SAICA’s proactive awareness and maturity, which are improving monthly.

RISKS

CAPITALS

KING IV

STAKEHOLDERS

  • Internal − Members, CEO, COO, Board Secretary, National Council, MANCO and SAICA-controlled entities
  • External − IRBA and other regulators

Ms Babalwa Bekwa

Chairperson

Capital isn't this pile of money sitting somewhere, it's an accounting construct - Bethany McLean

Need Help? Get in Touch

Need Help? Get in Touch

SAICA Integrated Report 2022.
All Rights Reserved.

Site Links

Site Links

Head Office

SAICA Integrated Report 2022. All Rights Reserved.

Site Links

Site Links

Head Office