WHO WE ARE
ORGANISATIONAL OVERVIEW
Key Challenges Experienced in 2024
Legend
Short term S
Medium term M
Long term L
Member Query Resolution
Challenge
At the start of the year, resolving queries largely due to the system migration challenges was considered a significant (material) issue, causing member dissatisfaction
Response
S M L
Key improvements to reduce query backlog included better monitoring of query trends, increased oversight by management, and ExCo daily reporting, clear role allocation, and accountability
Improvements to the query logging process using the member portal have also been introduced
Strategic Pillars
Material Matters
Small-Medium Practices Expectations
Challenge
Perceived lack of adequate support by small-medium practices (SMPs) as well as small to medium enterprises (SMEs)
Response
S M L
To manage perceptions, SAICA has an array of initiatives that demonstrate SAICA’s commitment to SMPs and SMEs:
SAICA engaged with 30 SMPs to identify obstacles and develop tailored practical solutions for this constituency
Based on these insights, SAICA is developing tailored strategies to enhance the visibility of SMPs, provide targeted mentorship and development programmes, and create networking platforms to connect SMPs with private-sector entities to expand market access
Launched in November 2023, the SAICA BIZ podcast series continued in 2024, showcasing SMP members as trusted business advisors who support SMEs. The series helps small businesses make informed decisions, navigate challenges, and achieve sustainable growth
Dialogues continue through SAICA’s SMP interest group to address and support the needs of the SMP community. Representation by SMP members on SAICA’s council and senior partners forum
Addressing key challenges:
For SMPs – Tackling market competition and differentiating the unique value members and associates bring compared to general accounting services
For SMEs – Supporting businesses facing high failure rates due to, amongst other things, complex regulations and inadequate business support
SAICA BIZ aims to grow its audience, build brand awareness, and position SAICA as a knowledge hub for SMEs, fostering collaboration among experts and key stakeholders in the small business ecosystem
Discover the SAICA BIZ Impact Podcast: SAICA BIZ on Spotify
Strategic Pillars
Material Matters
The Resolution of Tax Practitioner and other Disciplinary Cases
Challenge
SAICA faces ongoing challenges in resolving tax practitioner and other disciplinary cases, with dissatisfaction over prolonged disciplinary processes. Between April 2023 and February 2024, SAICA investigated 81 complaints of trainee misconduct, involving copying, collaboration and unauthorised sharing of individual simulations
Response
S M L
Enhancements to SAICA’s internal processes and systems
Significant strides have been made in 2024 to address longstanding backlogs and refine processes to improve efficiency and fairness. These efforts build on amendments made to the Disciplinary Code in 2023, which introduced streamlined processes for addressing specific non-compliance cases, such as late submissions of tax practitioner declarations and CPD non-compliance. A total of 994 non-compliance cases of this nature were finalised by way of the Designated Disciplinary Officer (DDO) First Offence Sanction which was a mechanism introduced into the Disciplinary Code to the SAICA By-laws in 2023
The Disciplinary Case Management System, launched in July 2024, allows individuals to lodge complaints against SAICA members or trainees directly via the SAICA website, seamlessly logging cases into the system. Read more in the Ethics and Discipline report
Independent review of the SAICA disciplinary procedures
To enhance the effectiveness of SAICA’s disciplinary procedures, an external law firm was appointed in Q4 2024 to conduct an independent review and provide improvement recommendations. The firm is currently engaging with SAICA Legal and Discipline on draft recommendations before finalising their report for submission
High volume of trainee complaints from one Training Office
By the end of 2024, SAICA had resolved 78 cases through the Professional Conduct Committee (PCC), with two cases withdrawn and one case remaining ongoing. The PCC ordered Fit and Proper Enquiries in line with Section 12 of the SAICA Disciplinary Code for trainees found to be guilty
SAICA faces challenges in obtaining sufficient evidence for disciplinary cases, relying on complainants, third parties, and parallel regulatory or law enforcement processes. To address this, SAICA engages extensively with stakeholders and utilises formal channels, including Promotion to Access of Information Act (PAIA) applications, to secure necessary information
Strategic Pillars
Material Matters
Attractiveness and Sustainability of the Audit and Accounting Profession
Challenge
The audit and accounting profession faces challenges related to its attractiveness and sustainability, impacting its role in ensuring financial stability and attracting investments. SAICA recognises the need for reforms to address these challenges and enhance the profession’s effectiveness
Response
S M L
The approval of the creation of the Centre for Audit Quality (CAQ) is part of SAICA’s Audit Reform initiative, aimed at further rebuilding confidence in the audit and accounting profession. SAICA held a workshop with CEOs from auditing firms to discuss the strategic elements around the creation of a CAQ as a way of seeking to enhance financial reporting and tackle sector challenges
SAICA has launched a youth campaign to attract talent and promote the profession’s sustainability, featuring the ‘Behind the Numbers’ campaign which positions SAICA as a purpose-driven organisation addressing youth issues. Read more
Brand awareness, and awareness of the accounting profession is further reinforced through feature publications such as Accountancy SA. SAICA highlights the contributions of its members and firms across South Africa in Accountancy SA, showcasing their work to drive positive change and emphasising the profession’s essential role in the financial reporting ecosystem. This forms part of SAICA’s overall audit reform initiative. The IRBA is also a regular attendee of numerous SAICA meetings, discussion forums and engagements which allows profession-wide engagement
These initiatives aim to increase awareness, trust, and confidence in auditing, ensuring the profession’s continued relevance in South Africa’s capital markets
In addition, SAICA’s cradle to career initiatives aim to promote the auditing profession to both learners and students. This is done through collaboration with the audit firms on the learner initiatives and inviting them to engage with students
Strategic Pillars
Material Matters
Growing and Supporting Members in the Public Sector
Challenge
The public sector faces a critical shortage of skilled resources leading to challenges in public finance management and audit outcomes. Effective legislation and standards are essential for regulating financial management and ensuring the proper use of public funds
Response
S M L
The Professionalisation of the Public Sector Plan was launched in Q2 through collaboration with Standards, Learning and Development, and National Imperatives. Initiatives included publishing career mobility research to help members transition between sectors, producing educational videos on the public sector, and hosting workshops to enhance technical understanding. These efforts aim to equip government with necessary skills for effective public finance management
A public sector guidance document for academia is in the development phase, with contributions from fourteen academic members
At the PwC Government and Public Sector Summit, SAICA representatives highlighted the role of members in the public sector, advocated for increased involvement in sector improvements, and showcased SAICA’s research on public sector challenges
The Board has approved the proposal to elevate the public sector committee to a prescribed committee. This will allow for an expanded committee who will be able to both support, guide and advocate for members in the public sector with the oversight of the Board
Strategic Pillars
Material Matters
Please note that while some responses had immediate short-term actions, implementation will continue into the medium and long term to ensure sustained impact.
