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4. The impact of artificial intelligence and digital transformation on the evolution of skills within the accountancy profession

The rapid advancement of artificial intelligence (AI) and digital technologies is transforming the accounting profession. AI automates routine tasks, enhances data analysis capabilities, and enables real-time financial monitoring, thereby reshaping traditional accounting roles and required skill sets

Risks and Opportunities

Risks

Accounting professionals may find their traditional skills becoming less relevant, necessitating continuous learning and adaptation
Increased reliance on digital tools and AI exposes organisations to higher risks of cyber-attacks and data breaches
The integration of AI in accounting raises concerns about ethical decision-making, data privacy, and the need for effective governance frameworks to manage AI applications responsibly

Related Opportunities

AI provides real-time financial insights and predictive analytics, enabling accountants to offer more proactive and strategic advice
Automation of routine tasks through AI allows accounting professionals to focus on higher-value and strategic activities
The adoption of AI opens avenues for firms to offer innovative services such as advanced data analytics and strategic advisory roles

Strategic Response

AI Integration – Piloting GenAI tools to streamline operations and improve member support
AI Strategy Development – Formulating a comprehensive AI strategy and framework to mitigate associated risks such as cyber threats and technology obsolescence while leveraging AI to enhance professional capabilities
Member Education and Training – Offering continuous professional development programmes focused on AI and digital competencies to ensure members remain relevant and competitive in the evolving market
Audit Reform Initiatives – Hosting events such as the Audit Reform webinar on policies, laws, and regulations governing artificial intelligence, providing members with insights into the evolving regulatory landscape (SAICA Audit Reform)

Outlook for the Short, Medium and Long Term

Embedding the new operating model and refining workforce planning through change management support and capability-building
Expanding AI-driven talent initiatives to support digital transformation
Continuing diversity, equity and inclusion (DEI) progress through leadership accountability and policy reinforcement
Strengthening wellness and engagement for a more connected workforce
Continuous succession planning and talent reviews will be conducted to inform employee developmental interventions such as coaching
Salary benchmarking will be conducted to ensure that employees are competitively remunerated in line with the market
SAICA will participate in the Top Employer certification process as part of realising the winning organisation strategic intent

Impact on Capitals

Impact on Strategic Pillars

5. Ensuring access, diversity, and inclusivity within our profession

SAICA is addressing challenges affecting the profession’s attractiveness, sustainability, transformation, and pipeline:

Entrant challenges – Rising competition from alternative training providers and universities raises concerns about quality and consistency while impacting SAICA’s market share
Examination success – Persistent racial disparities in SAICA examinations success rates

Risks and Opportunities

Risks

Reduced attractiveness and accessibility of the profession
Increased talent diversion to alternative programmes
A declining pipeline of future professional threatens sustainability of the profession

Related Opportunities

Partner with training offices to better support candidates writing SAICA examinations. This would include considerations on the allocation of work to trainees
Raising funding for interventions aimed at supporting examination candidates
Position the SAICA brand as synonymous with the highest standards of professionalism, ethics, and competence

Strategic Response

Entrance Challenges

SAICA has launched a Youth Campaign that presence the profession from a youth perspective. SAICA also runs several school level initiatives that are aimed at creating access to the profession, these include mathematics and the Grade 10, 11 and 12 accounting curriculum matters

Examination Success

SAICA examines the entire ecosystem to identify root causes of low pass rates, focusing on early mathematics development and the broader education system
Continued engagements with training offices on their role on the development of professional competence
Implement Assessment of Professional Competence (APC) and Initial Test of Competence (ITC) working group recommendations
Review the independent research recommendations
Offer additional funding for candidate support and training

Competition Mitigation

Engage regulators and stakeholders to advocate for fair competition

Other Strategic Initiatives

Expanding the Thuthuka pipeline to support disadvantaged candidates
Creating alternative entry routes under the CA of the Future Framework

SAICA Examination Candidates

Partner with Training Offices to better support ITC and APC candidates
Raise funds in partnership with key stakeholders to better support candidates

Outlook for the Short, Medium and Long Term

SAICA Exam Pass Rates

Short to Medium Term

Continued collaboration with key stakeholders to address challenges at the basic education level
Continued interventions will help improve the chance of success for exam candidates

Long Term

Influence and contribute to the revision of the grade 10, 11 and 12 accounting curriculum and the broader mathematics education
Implementation of APC and ITC working group research recommendations and elements of the new Target Operating Model (TOM)
Expand different pathways to SAICA designations
Continue to advocate for improvements in the education offering and results of distance academic providers

Impact on Capitals

Impact on Strategic Pillars

6. The declining number learner enrolments with accounting and mathematics at the matric level

Mathematics challenges

Shortages of qualified teachers and limited learners pursuing mathematics hinder the pipeline for CA(SA) programmes

Accounting education

Decrease in the number of learners that take accounting as a subject at school which may lead to a general lack of interest in accounting as a career option

Number of learners passing with mathematics are still not at the required level and ITC and APC pass rates still have some racial disparities

Risks and Opportunities

Risks

A shrinking CA pipeline due to systemic and mathematics and broader education challenges
Increasing awareness and appeal of other career options may divert learners away from accounting and mathematics
Limited qualified teachers reduce learners pursuing mathematics
Decline in prospective members due to racial disparities in the ITC and APC success rates
Decline in CA pipeline in the audit profession

Related Opportunities

Develop a comprehensive youth strategy to attract young talent and demystify the accounting profession
Use digital platforms to engage and inspire learners about the profession
Provide professional development opportunities for mathematics and accounting teachers
Implement targeted interventions to assist ITC and APC candidates

Strategic Response

Improving Mathematics and Accounting Education

Partner with schools and stakeholders to fund initiatives such as the SAICA Maths Buddy Campaign and Educator Development Programme
Develop strategic partnerships with key stakeholders to support mathematics and accounting teaching capacity
Partner with the Department of Basic Education to improve on the accounting curriculum
SAICA continues to advocate for the importance of mathematics and quality education

Targeted Youth Strategy

The ‘Behind the Numbers’ campaign showcases SAICA as a purpose-driven organisation addressing youth issues
Edutainment content and the Youth Hub, where young SAICA ambassadors share their journeys and highlight diverse career opportunities, inspiring future professionals

Other Strategic Initiatives

Sponsoring teacher training, math competitions and business games to inspire early engagement

Outlook for the Short, Medium and Long Term

Short to Medium Term

Expand mathematics and accounting education support and digital transformation of developmental programmes
Facilitate partnerships with distance learning providers and stakeholders
Intensify interventions to reduce disparities in examination pass rates
Through SAICA’s youth campaign ensure that SAICA remains attractive to learners

Long Term

Develop a multi-professional, comprehensive mathematics improvement plan
Contribute to the Grade 10, 11 and 12 accounting curriculum changes
Establish reciprocity agreements for diverse entry routes
Support all HDIs in ensuring that all HDIs have a SAICA-accredited PGDA
Fully implement ITC and APC working group recommendations to ensure equitable outcomes
Contribute to the basic education educator development programmes
Scaling AI and digital transformation initiatives to improve education, assessments, and member services

Impact on Capitals

Impact on Strategic Pillars

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Ongoing Sustainability