WHO WE ARE
ORGANISATIONAL OVERVIEW
Chairperson’s Review
Strengthening Leadership and Strategy Execution
It is an honour to have been reappointed as Chairperson, a decision aimed at ensuring stability during a time of transition. The appointment of Patricia Stock as our CEO has been a defining moment for SAICA. Over the past year, Patricia has demonstrated strong leadership, culminating in the approval of SAICA’s five-year strategy in 2024. The strategy has been well received by our members and associates and we are now focused on successful implementation.
A key focus at the Board level has been ensuring that SAICA has the necessary people, information, and technology resources to execute the strategy effectively. This has prompted us to assess the skills required at the Board level and identify areas for development in the coming year.
Following the strategy’s approval, an organisational review was undertaken – the first of its magnitude for SAICA. This review ensures that our structure is optimally aligned with our strategic goals and was approved at the Board level before being communicated to stakeholders.
This year also saw the appointment of Akash Singh as President of the SAICA National Council. Since being appointed to the Board, Akash has made valuable contributions. Akash succeeds Jacobus Swanepoel (Kobus). I extend my heartfelt gratitude to Kobus for his steadfast leadership and invaluable contributions during his tenure. His dedication to SAICA has left a lasting impact, and his recognition as a SAICA brand ambassador at the 2024 Chairman’s Difference Makers Awards is a testament to his commitment.
We also introduced a new role – Board Observer – appointing Likeleli Monyamane CA(SA) to the position. This pilot initiative, in response to member recommendations at the AGM, marks an exciting development for SAICA. Likeleli brings valuable skills to the Board and will be mentored by Board members. We anticipate significant benefits from this Board Observer Programme.
Elevating Governance for the Future
As SAICA navigates the complexities of rapid reforms in sustainability, artificial intelligence (AI), and evolving societal expectations, effective governance remains a top priority. We recognise the need to adapt SAICA’s structures, policies, and practices to align with its mission and respond to stakeholder needs effectively and with purposeful agility. Strong governance is seen as essential for building trust and enhancing SAICA’s capacity to lead the profession amid ongoing changes, particularly by harmonising efforts across Regional Councils, the National Council, and the Board to efficiently execute the Strategy 2024–2028.
The implementation of the governance review’s recommendations has been a significant achievement this year. As we prepare for our AGM in May, we are focused on completing the necessary amendments to our Constitution. This iterative process is vital for ensuring that SAICA remains responsive and relevant to the evolving needs of our members, associates and the broader market.
This year has also been pivotal for SAICA’s governance structure. The successful completion of our governance review has provided valuable insights into our current practices, enabling us to enhance our governance framework. The recommendations from this review, including the need to increase collaboration between the Board, the Council, and management, have already begun to bear fruit, with significant strides made in improving transparency and accountability. Further details are included in our Governance Chapter.
Our efforts are geared towards a governance strategy that is member-centric, integrating feedback from our members and associates into decision-making processes. This approach is also intended to inform operational strategies.
We are further committed to embedding sustainability and AI within SAICA’s core operations.
These priorities will strengthen our governance frameworks, promoting environmental stewardship and ethical conduct. By integrating these elements, we aim to ensure that SAICA remains a forward-thinking leader in both the profession and the broader community.
Through collaboration and advocacy, we have established the Centre for Audit Quality (CAQ). The CAQ is established to advocate views from the audit profession, representing one voice of the audit profession, conduct research on topics relevant to the audit profession, explore research based on interventions to secure effective future fit audit profession and collaborate stakeholders to foster conducive policy and business environment.
In line with our commitment to governance excellence, SAICA had the honour of hosting former Chief Justice Raymond Zondo at our offices before the 2024 AGM. This historic event highlighted the critical role accountants play in upholding governance across multiple disciplines. Recognising the impact of his work and its influence on the South African economy reinforced SAICA’s role in supporting legal and governance reforms. Furthermore, SAICA was one of the leading professional bodies to act on the recommendations of the Zondo Commission, demonstrating our ongoing pledge to public interest and ethical leadership.
Addressing Key Challenges
One area of concern has been the ITC, now known as the IAC, where pass rates, particularly across racial groups, have been below expectations. The Board has tasked SAICA management with reviewing existing research and implementing urgent interventions to address this issue.
Additionally, our digitisation journey, driven by the Ushintsho programme, has seen progress despite some challenges. The Board remains intent on leveraging technology to enhance efficiency and service delivery.
While SAICA has four strategic pillars, I want to particularly highlight member value and relevance. As a member-driven organisation, we must continually refine our approach to ensure we remain relevant. The industry is evolving, with increasing participation from SMEs and entrepreneurs, who form a vital segment of our membership. Their needs differ from those of traditional corporate professionals, requiring tailored support, resources, and advocacy.
Recognising this, we are actively working to enhance our offerings for SMEs and entrepreneurial members. This includes providing more accessible technical guidance, expanding networking and mentorship opportunities, and advocating for a regulatory environment that supports business growth. Ensuring that SAICA remains a trusted partner for all members – whether in large firms, small businesses, or independent ventures – is a key priority for the Board.
Appreciation
I extend my heartfelt thanks to the SAICA Board for their steadfast commitment, thoughtful deliberations, and drive to push the boundaries in advancing our profession. I also express my sincere gratitude to Council, committee members, the leadership team, employees, and partner organisations for their dedication, collaboration, and invaluable contributions.
The ongoing efforts of our members reflect the true strength and influence of our profession. I am especially grateful to those members who serve on committees, championing integrity and resilience. Together, we continue to pave the way for a sustainable future, making a meaningful impact that ensures the continued success of our profession.
This year marked the introduction of our inaugural awards weekend ceremony, celebrating the achievements of SAICA’s members and associates. The three-day event consolidated three prestigious recognitions under the Difference Makers banner: Trailblazers, honouring aspiring CAs; Top 35-Under-35, which recognises 35 exceptional members and associates under 35; and Chairman’s Difference Makers, celebrating seasoned professionals who have made a significant impact. Recognising those who have excelled in their careers not only celebrates their achievements but also highlights the broader impact they have on society.
A particularly significant accolade was awarded to Nonkululeko Gobodo, the first black female chartered accountant in South Africa. Since earning her qualification in 1987, she has made a profound and positive contribution to the profession and society at large. Honouring her with the 2024 SAICA Chairman’s Award for the Lifetime Legacy Award emphasises our commitment to celebrating diversity and amplifying voices that have historically been underrepresented in the industry. Her legacy continues to inspire and uplift the accounting community.
The SAICA Awards reflect our dedication to recognising excellence across the entire career pipeline. By celebrating individuals at various stages of their professional journeys – from emerging leaders to seasoned professionals – we aim to inspire future generations to pursue innovation, integrity, impactful leadership, and social responsibility. Through the themes of Cradle to Career and Celebrating Difference Makers, we reaffirm our commitment to acknowledging those who shape the profession and drive meaningful change.
We highlight many deserving individuals in our integrated report. Read more on our difference makers.
Future Outlook and Closing Thoughts
Looking ahead, our focus will remain on enhancing member relevance and improving overall organisational alignment. With a keen eye on digital transformation, I am determined to harness technology to improve member services and operational efficiencies.
Engaging with our members globally has provided invaluable perspectives that will inform our future strategies. The diversity within our membership, including those based internationally, emphasises the importance of inclusivity in governance and service delivery.
A key milestone this year was the Board’s nomination of Patricia to join the International Federation of Accountants (IFAC) Board, a move that was approved and endorsed by the IFAC Council. This is a significant development, as IFAC is a leading global body with considerable influence over the accounting profession worldwide. Having Patricia on the Board strengthens the South African agenda and creates a direct link between global conversations and SAICA’s strategic efforts. I was privileged to accompany Patricia to the IFAC Board meeting in Paris, where her presence and contributions helped elevate the South African perspective on a global stage. This relationship will not only inform our strategy but also guide us in making meaningful adjustments. We are excited about the future opportunities that collaboration with IFAC will bring to South Africa and to SAICA.
‘In reflection, this has been an incredible year of growth, collaboration, and resilience for SAICA. With a committed leadership team and a clear vision for the future, we are well-positioned to navigate the challenges that lie ahead while continuing to deliver exceptional value to our members.
The achievements and lessons of this year will serve as a strong foundation for even greater success in the years to come.’