VALUE CREATION
OUR STRATEGY, PERFORMANCE AND IMPACT
Advocacy and Thought Leadership
Shaping the Future of the Profession and Advocating for Impactful Change
SAICA’s Standards portfolio plays a pivotal role in driving advocacy, thought leadership, member guidance, operational support, and equipping members with technical expertise to make a positive impact on both the economy and society. By contributing to the development of proposed standards and legislation, the division actively engages with stakeholders and collaborates with global standard setters. Through a range of thought leadership interventions, including events, products, and media channels, SAICA facilitates informed discussions that shape consensus and drive forward the standards and policies to influence effective legislation and public policy.
SAICA provides focused technical support to members, ensuring they are well-equipped with the knowledge, skills, and resources to navigate current and future standards. This advocacy and technical expertise are further strengthened by promoting the interests and competencies of SAICA members both locally and internationally. Through ongoing collaboration with key stakeholders, SAICA ensures that the profession remains relevant and impactful in a rapidly changing landscape, while supporting members’ leadership roles within the economy and society.
With a strong emphasis on continuous improvement, the SAICA team plays an essential role in representing SAICA on various decision-making platforms and leading efforts to advance ethical standards, safeguard the profession’s future, and advocate for beneficial legislative reforms. The presence of SAICA in these forums plays a significant role in continuing to elevate its designations both locally and internationally.
SAICA acknowledges the participation of its members and associates to SAICA Standards.
Key Strategic Developments in 2024
Collaborations with Basic and Higher Education
SAICA has been actively partnering with both the Departments of Basic and Higher Education in its various transformation initiatives. This collaboration aims to enhance educational outcomes.
Professionalisation of the Public Sector
SAICA has played a key role in advancing the professionalisation of the public sector through engagements with the Accountant General, addressing critical areas such as the transition to accrual accounting, public sector audit committees, and overall professionalisation. These discussions provide SAICA and the profession the opportunity to assist the government in overcoming challenges in these areas.
SAICA was also invited by various stakeholders to present on public sector initiatives, offering advice and encouraging increased participation. These engagements highlighted SAICA’s commitment to public sector professionalisation.
A workplan was developed to support these efforts, and a workshop was hosted in the Eastern Region to begin its implementation.
Public Sector Plan
In Q2, SAICA launched the Professionalisation of the Public Sector Plan, a collaborative effort between the Standards, Learning and Development, and National Imperatives divisions.
Key initiatives included publishing career mobility research, producing videos on public sector understanding, and hosting workshops for public sector officials. A public sector guidance document for academia is in development, with contributions from 14 academic members.
As part of its strategy, SAICA conducted research among SME financial services entities to gather input for the revised IFRS for SMEs Standard. The research on public sector career mobility and consultants will inform future member support initiatives and the implementation of the Public Sector Professionalisation Plan.
Public Sector Accounting
SAICA strengthened its international presence by hosting the International Public Sector Accounting Standards Board (IPSASB) in South Africa for the first time. Discussions focused on the IPSASB’s 2024−2028 strategy and workplan, elevating SAICA’s role in public sector accounting. This event allowed members to engage with global standard setters, and SAICA subsequently submitted feedback on the IPSASB’s strategy and workplan, representing the profession’s interests.
Sustainability
SAICA continues to advocate for the profession through key submissions to regulatory bodies and active participation in global forums.
Notable achievements include engagement within the GAA, CAW, and PAFA subgroups on sustainability, as well as contributions to the IFRS Foundation. These efforts highlight SAICA’s commitment to aligning the profession with broader economic and social goals.
The Sustainability Technical Committee oversees sustainability and integrated reporting, providing thought leadership and education on the SDGs. This empowers SAICA members to analyse sustainability data and integrate it across organisations, while also influencing global standard-setting.
Sustainability Standards
SAICA made a submission to the IASB on climate-related uncertainties in financial statements and responded to IESBA’s proposed sustainability assurance standards and sustainability-related education standards. The team also assessed readiness for the ISSB standards, releasing FAQs on key sustainability reporting disclosures such as GRI, ESRS, and ISSB.
A key event was SAICA’s participation in a joint event between SAICA, the JSE and the Sustainability Stock Exchange (SSE) which allowed for an in-depth analysis of the ISSB standards while incorporating regulator, investor and preparer views. In addition, SAICA hosted its second Climate Change Conference, focusing on net-zero strategies, and produced guidance on materiality assessments for sustainability reporting, particularly related to GRI, ISSB, and ESRS standards.
Regular communication on ESG and integrated reporting matters aligns with SAICA’s vision to lead in sustainability locally through strong partnerships.
Global Engagement
SAICA participated in global sustainability initiatives, advancing efforts on climate change and nature commitments.
We continue to gather member feedback on climate-related matters and their impact on financials and are exploring South Africa’s pathway to the adoption of the ISSB framework.
SAICA Standards also hosted a webinar with the IESBA to discuss revisions to the International Ethics Standards for Sustainability Assurance and is drafting a submission in response.
Key Initiatives to Create Value in 2024
Public Sector Advocacy and Engagement
In 2024, SAICA Standards continued to advocate for public sector reform and engagement, participating in key events and initiatives that promote the value of professional skills and highlight the role of its members in driving positive change within the sector. These efforts included:
PwC Government and Public Sector Summit
Highlighted the role of members in public sector reform and shared insights from its research on sector challenges
North-West University Graduation Ceremony
Emphasised the importance of public sector careers and aligned with its goal of empowering youth through financial accounting skills, expanding AT(SA) membership
CIGFARO Public Sector Risk and Audit Indaba
SAICA showcased its thought leadership on using technology to enhance public sector service delivery
KZN Public Sector Young Professionals Summit
Focused on promoting future skills for public sector professionals, including digital acumen and decision-making
Two webinars
Attracted a few hundred bookings were very well received and highly rated. They were aimed at improving the quality of financial statements in National and Provincial Government
The ‘Understanding the Public Sector’ video series
Comprising eight videos was launched to educate students, academics, trainees, members, and the public on public sector legislation and reporting standards
