HOW WE CREATE VALUE

Contributing to a sustainable future (the UN SDGs)

Quality Education

SAICA OBJECTIVES
  • Influence the South African fiscal budget and budget process to ensure it better achieves the enablement of inclusive economic growth and job creation
  • Influence Parliamentary oversight on the budget process to ensure better accountability and efficient spending
  • Strengthen the credibility of the capital markets in South Africa through activities that are aimed at enhancing audit quality and promoting trust in the auditing profession
  • Ensure that members remain relevant in the job market with the changing skills required
  • Empower and mentor young people to gain employment
  • Entrepreneurial skills development and creating job opportunities through The Hope Factory Group
KEY ACTIVITIES IN 2023 AND IMPACT / DIFFERENCE MADE
  • Submission and oral presentation to Parliament’s Standing Committee on Finance on the Annual Budget Review, including on the constitutional oversight role and mechanisms of Parliament
  • Submission to Parliament and National Treasury on the South Africa Fiscal Policy Framework and 2023 Medium-Term Expenditure Framework
  • Submission and oral presentation to Parliament’s Standing Committee on Finance on the Medium-Term Budget Policy Statement, including on aspects that were realised during the half year and were not properly budgeted for
  • Submission and oral presentation to Parliament’s Standing Committee on Appropriations raising concern on municipal pre-spending, unbudgeted expenditure and incorrect usage of expenditure ceilings
  • Employer engagement on skills needs − driving engagement with significant employers to understand the changing requirements applicable to the profession to ensure that the members are staying relevant and effective
  • Member-profiling initiatives such as the Top 35-Under-35 competition celebrate and showcase young CAs(SA) who are difference makers driving positive change in the economy and society
  • Expanded graduate internship programme to host nine interns
  • Both SAICA ED and THF exceeded its YTD income targets for both traditional income and customised projects
  • Increased The Hope Factory Group customer retention rates from 50% in 2022 to 74% in 2023 for the group

Reduced Inequalities

SAICA OBJECTIVES
  • Advocate for effective, efficient and administratively fair revenue collection
  • Advocate for fair, equitable and transparent global tax rules
  • Ensure a balanced representation for appointments on technical committees
  • Reducing inequalities by ensuring equal empowerment of trainees through the Audit Reform project
  • Promote women’s empowerment and leadership
  • Provide educational support for African and Coloured learners
KEY ACTIVITIES IN 2023 AND IMPACT / DIFFERENCE MADE
  • Submission and presentation to Parliament’s Standing Committee on Finance and its Standing Committee on Appropriations to address challenges relating to the effectiveness of SARS, including funding and accounting disclosure concerns
  • Submission to the Organisation for Economic Co-operation and Development (OECD) Centre for Tax Policy and Administration regarding concerns on dispute resolution mechanisms between countries for base erosion and profit sharing (BEPS) 2.0: Amount A of Pillar I, where developing countries do not adopt Pillar I or do not sign on for other multilateral instruments
  • Appointments made at the newly established Sustainability Technical Committee considered gender and race representation
  • Participation in the Equality, Diversity and Inclusion Task Force’s Research Group of Chartered Accountants Worldwide (CAW), which shares best practices to reduce inequality in the workplace and in society
  • Entered into a contract with ICAS (leading provider of well-being services) to ensure that Thuthuka students are supported in dealing with broader challenges they may face, including emotional and mental well-being
  • Additional coaching and mentoring through the ITC and APC repeat programme

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