HOW WE CREATE VALUE
Stakeholder engagement and value creation
Stakeholder engagement is a key aspect of SAICA’s activities, not only in terms of our advocacy role but also in establishing and managing the partnerships that make the delivery of our projects and strategic initiatives possible. Our goal is to maintain good relations with all of our key stakeholders in order to create a strong collaborative value-creating environment.
Our engagements with a broad range of stakeholders help us understand their needs and interests so that we can respond appropriately, support the transformation and upliftment of communities and contribute to sustainable societies.
Effective engagement with stakeholders helps to translate their needs into organisational goals and creates the basis for effective strategy execution. Stakeholder groups include both strategic dependencies (the stakeholders SAICA depends on to execute its strategy) and strategic benefactors (those who will benefit from the achievement of the strategy).
Stakeholder needs and interests are also critical inputs into the material matter determination process and the identification of risks and opportunities.
We identify our key stakeholders by considering SAICA’s most material matters, continued local and international relevance, technical competence, reputation management, financial sustainability and service of the public interest, and the extent to which expectations have been met.
SAICA’s key stakeholder groups are shown in the diagram below.
LEGEND
Expectations met
Improvement required
Worsening
Improving
Stable
Expectations met
Improvement required
Worsening
Improving
Stable
MEMBERS AND ASSOCIATES
Member satisfaction score = 70%
(FY22: 67%)
SAICA BOARD
Engagement score = 83%
(FY22: 83%)
EMPLOYEES
Engagement
score = 84%
(FY22: 78%)
REGULATORS
Engagement
score = 78%
(FY22: 89%)
USERS
PHI − employability
index score = 74%
(FY22: 76%)
GOVERNMENT
Engagement
score = 83%
(FY22: 87%)
NON-GOVERNMENTAL ORGANISATIONS AND THE GENERAL PUBLIC
PHI = 50%
(FY22: 57%)
TRAINEES
PHI − Attractiveness of the profession to new entrants = 86,43% (FY22: 86,16%)
STUDENTS
PHI − Attractiveness of the profession to new entrants = 93,43% (FY 22: 86,16%)
FIRMS
Engagement score
= 90%
(FY22: 87%)
ACADEMIA
Engagement
score = 96%
(FY22: 74%)
MEDIA
Engagement
score = 67%
(FY22: 89%)
TRAINING OFFICES
Engagement
score = 55%
(FY22: 54%)
LEARNERS AND EDUCATORS
PHI − Attractiveness of the profession to new entrants = 85,77% (FY22: 86,16%)
DONORS
Engagement
score = 86%
(FY22: 50%)
ALLIANCE PARTNERS
Engagement
score = 82%
(FY22: 84%)
To improve and maintain positive stakeholder relationships, collaboration and involvement strategies will be enhanced.
STAKEHOLDERS, INTERESTS AND ENGAGEMENT CHANNELS
Refer to the SAICA webpage for details on all of our stakeholders where we demonstrate our commitment, engagement and the quality of our relationships with key stakeholders through the value we have delivered.
SAICA’s stakeholder engagement strategy, plan and stakeholder management policy guide interactions with stakeholders. Significant engagements are captured in an organisational stakeholder engagement tracking document and reported quarterly to the SETCO.
A stakeholder management policy is in place and approved by SETCO and the SAICA Board.
The quality of our stakeholder relationships is measured through an annual survey. The 2023 survey showed an overall satisfaction score of 72,15% (2022: 67%).
STAKEHOLDER ENGAGEMENTS IN 2023
Key themes that were topics of discussion for engagements during 2023 include: