HOW WE CREATE VALUE

Our strategy and key strategic focus areas

RELEVANCE AND REPUTATION

STRATEGIC PILLAR
  • Building trust and ethical conduct are key focus areas for the organisation to address a perceived failure in historical disciplinary cases
  • SAICA’s reputation is a key driver for attracting and retaining members, and correcting past reputational damage is a priority
  • SAICA must ensure that it remains relevant in times of inequality and unemployment, both for its members and wider society
STRATEGIC OBJECTIVE
  • Enhance trust, ethical conduct and the credibility of the profession in the economy and society
STRATEGIC OUTCOME
  • Integrity − Members should be living the principles of the Code of Professional Conduct, and where they are not, appropriate action must be taken. Members should be socially conscious (the focus is broader than on just deriving profit from an entity)
2023 STRATEGIC INITIATIVES and Status
  • 7: Integrated ethics plan – Ethics in Practices Series delivered monthly to promote a high level of ethical behaviour. Submission was made to the IESBA on its work plan and strategy which is key in determining the ethics projects that are most urgent and impacting the profession
  • 8: Optimise disciplinary procedures − The Disciplinary Code was amended in 2023 to include streamlined processes for certain types of non-compliance cases (complaints for late submissions of declarations of Tax Practitioner Members and for General CPD non-compliance up to 1 March 2023
  • 9: Implement SDG initiatives

(Refer to our initiatives that support these SDGs)

  • 10: Audit reform initiatives – The audit reform initiative has played an important role in the restoration of trust in the auditing profession in South Africa, as evidenced by the number 1 ranking in the Edelman Trust survey in 2023. The establishment of a Centre for Audit Quality (CAQ) as a SAICA-related entity is currently being assessed. The CAQ is intended to be the voice of the auditing profession and to contribute positively to financial reporting and assurance in South Africa
  • 11: Unite4MzansiTM − Explored solutions to address issues raised by the Judicial Commission of Inquiry into State Capture (Zondo Commission). Successful prosecution of public Disciplinary Committee hearing into a complaint which was referred to SAICA from the recommendations from the Zondo Commission
  • 12: Courageous Conversations − Leaderex SAICA Difference Makers Anti-Corruption Summit
  • 13: Government-assistance programmes − Continued with the advocacy submissions to improve governance and financial reporting in the public sector
  • 14: Communication strategy execution – Continued focus on rebuilding trust in the profession, promoting the value of SAICA’s designations with significantly increased media exposure. Trust index increased from 83% to 84%
IMPACT
Capitals
Material Matters
OUTLOOK FOR THE FUTURE MEDIUM TO LONG TERM
  • Continue advocating for improved legislation and standards in the public sector
  • Strengthen tax practitioner compliance and monitoring
  • Establish the CAQ in collaboration with SAAPTI and the firms
  • Continue to enhance the impact of SAICA’s social media footprint through various social media platforms
  • Make a formidable contribution in the ESG space
  • Sustain SAICA as a well-reputed organisation driving a respected brand
  • Restore trust in the profession by ensuring members are living the Code and appropriate action is taken against misconduct, thus promoting accountability and integrity among members
  • In the short term, SAICA intends to deal decisively with current disciplinary matters and in the long term aspires to minimal discipline being required of its members

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