HOW WE CREATE VALUE
Contributing to a sustainable future (the UN SDGs)
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
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