CHAIRPERSON'S REVIEW

The appointment of an ad hoc Tax Practitioner Committee following management’s recommendation marked a significant step towards addressing tax-related matters affecting tax practitioners. This committee was instrumental in successfully concluding its work, leading to the amendment of our by-laws. As the Board, we express our gratitude for the diligent efforts that have enabled us to better serve our members amidst the challenges we face.

In last year’s report, I discussed the decision by NSFAS to not fund postgraduate studies at the CTA level, as NSFAS primarily focuses on undergraduate studies. Consequently, I am deeply appreciative and proud of the tireless efforts of numerous chartered accountants who have taken proactive measures to raise funds globally. Their initiatives, ranging from participating in marathons to various other activities, have played a crucial role in sustaining the Thuthuka programme.

To address this funding challenge, SAICA has undertaken fundraising campaigns and revitalised the Thuthuka Alumni community. Our goal is to develop sustainable strategies through collaboration between the Thuthuka Board and SAICA management, ensuring that fundraising actions leave a lasting legacy. We are exploring various avenues to achieve this objective.

I am delighted to announce that Standard Bank’s support will address the gap known as the ‘missing middle’, particularly focusing on previously disadvantaged universities. I extend my heartfelt gratitude to Thembeka Maseko, Standard Bank Executive Head Finance and Value Management, for spearheading this partnership and for Standard Bank’s invaluable contribution to this initiative.

This programme has progressed well in comparison to previous years with the launch of a new website, enabling gathering of data of members. The creation of a member portal being one of the fruits of Ushintsho. Learning modules have also been rolled out internally in a phased format and we are happy with the progress.

We continue to be concerned about the disparities in pass rates among APC students, particularly the existing demographic gap between black and white candidates. At SAICA, we are steadfast in our commitment to tackling this issue collaboratively with industry stakeholders and partners. Together, we are actively seeking ways to address the root causes of this discrepancy.

We are heartened by the support from organisations that have stepped forward to assist us in this endeavour, recognising the importance of addressing low pass rates to ensure equity and inclusivity within the profession.

In recognition of the vital role played by the public sector, we have designated the National Public Sector Committee as the prescribed committee, necessitating an amendment to the SAICA constitution. This underscores our commitment to actively support and elevate the public sector, ensuring that it receives the attention it deserves and can attract the necessary talent.

The Board undertook a comprehensive governance review in response to the recommendations stemming from the previous year’s AGM. The subsequent implementation of the outcomes from the review will be a joint effort between the Board and management, with the Board providing oversight to ensure thorough and effective execution. This review aims to enhance service delivery, streamline processes for efficiency, and uphold the highest standards of governance within the institute.

SAICA continues to handle a significant volume of disciplinary cases, and we are actively exploring measures to reduce the turnaround time for investigations. As a professional body, we face constraints distinct from those of law enforcement or regulatory agencies; we cannot subpoena information for investigations and must rely on publicly available data Recognising the importance of addressing this challenge, we acknowledge that this area requires additional focus and will be a key consideration in our ongoing organisational redesign. Our aim is to strengthen and streamline service delivery for more efficient processes. I want to reassure our members that the Disciplinary Committee is chaired by independent parties who are highly competent, ensuring a fair and objective evaluation of cases.

SAICA is dedicated to upholding its tradition of recognising excellence through initiatives such as the Chairman’s Difference Makers, Top 35-under-35 and Trainee Trailblazers awards. To further enhance these accolades, we are exploring the possibility of consolidating them into a weekend event coordinated by the Head of Brand and Marketing. This initiative aims to elevate our recognition efforts and celebrate the outstanding achievements of our members on a grand scale.

I continue to be impressed by the exceptional individuals who are recipients of these awards and the significant impact they have made in their respective fields. It is through the diligent efforts of our members and the invaluable contributions of our associates that SAICA continues to be acknowledged as the premier accountancy brand worldwide.