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7. Ongoing sustainability-related skills development efforts with a keen focus on ESG criteria
Digitisation

The world faces a range of pressing environmental, social and economic development challenges such as poverty, hunger, poor health, inadequate education, gender inequality, lack of access to water, poor sanitation, climate change, loss of biodiversity, and social injustice. As Difference Makers, chartered accountants have a leading role to play in addressing these critical problems

Heightened focus on sustainability by companies generally and integrated sustainability plan embedded in SAICA strategy

Risks and Opportunities
Risks
  • Insufficient advocacy for effective sustainability practices
  • Lack of sustainability knowledge and expertise within the profession and potential loss of relevance
  • Insufficient support provided to members to enhance member professional competence on sustainability-related topics
  • Insufficient collaboration efforts with external stakeholders to enhance the sustainability ecosystem
  • Inability to measure progress and the difference made
  • Ineffective strategic goals and performance measures
  • Inadequate transition to integrate the focus on sustainability to be business as usual
Related Opportunities
  • Embedding ESG and sustainability into core business strategies
  • Engaging stakeholders to shape future sustainability strategies
  • Collaborating with stakeholders to influence sustainability reporting frameworks
  • Enhancing SAICA’s role in standard-setting processes
  • Providing robust learning and development opportunities to members and trainees on sustainability-related topics
Strategic Response
    Internal Sustainability Framework
  • SAICA has drafted an internal sustainability plan and initiated a readiness assessment for adopting ISSB sustainability reporting standards, ensuring alignment with global frameworks
    • Integrated Sustainability Plan Implementation
    SAICA advanced the sustainability agenda through:
  • Hosting an integrated reporting seminar and an integrated corporate reporting event tailored to SME members and small/medium practitioners, highlighting the profession’s role in addressing sustainability challenges
  • Engaging stakeholders, including ISSB and IASB board members, via platforms like the CFO Forum and Members in Business (MIB) constituency to advocate for global sustainability standards and amplify member participation in shaping these frameworks
    • Capacity-Building and Advocacy
  • Hosted the second SAICA Climate Change Conference, facilitating knowledge-sharing and advocacy on climate-related challenges and solutions
  • Launched initiatives showcasing member contributions to Sustainable Development Goals (SDGs), including:
    • Annual SDG reports – Members are invited to share their impact, with published reports promoting broader participation
    • Trainee Trailblazer Awards – Recognising and celebrating trainees making meaningful contributions to SDG-related projects action around SDGs
    • Student Leadership Summit (SLS) – An annual competition inviting BAcc and BCom Accounting students from SAICA-accredited universities to propose community-based projects addressing SDGs, encouraging awareness and engagement among future professionals
Outlook for the Short, Medium and Long Term
    Integrated Sustainability Plan
  • SAICA has formalised a dedicated focus on ESG and sustainability, setting defined short- and long-term targets and integrated these into balanced scorecards
  • SAICA aims to actively contribute to SDGs and ESG-related activities
    • Key Initiatives Include:
  • Emphasising ESG considerations and sustainable practices within the profession
  • Facilitating the development of a green balance sheet to support sustainability reporting
  • Conducting a gap analysis to assess SAICA’s readiness for adopting ISSB sustainability reporting standards, with a target to begin reporting by 2026
    • Advocacy and Framework Development
  • SAICA continues to influence and support the adoption of sustainability frameworks
    • Capacity-Building
  • A strategic priority is building sustainability expertise among members, associates, and the broader professional community, equipping them to address emerging global challenges effectively

Read more in the SDG report and natural capital

Impact on Capitals
Capital Capital
Impact on Strategic Pillars
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8. The ever-increasing regulatory requirements and the growing gap in member expectations
Digitisation

SAICA is navigating a growing regulatory landscape, with heightened demands from SARS and other regulators creating significant operational and resource pressures. While there have been no substantial updates regarding the proposed Registered Controlling Body (RCB) changes that could result in dual roles for SAICA as both a member body and regulator, SARS continues to tighten requirements for tax practitioners

This adds administrative responsibilities for RCBs like SAICA, potentially straining resources

Additionally, other regulators increasingly delegate their oversight functions to professional bodies, exacerbating the expectation gap between SAICA’s member-serving role and its evolving regulatory responsibilities

Increased pressure on SAICA to meet regulatory requirements and meet member expectations with resource limitations

Risks and Opportunities
Risks
  • Resource constraints due to increasing regulatory obligations
  • Strain on SAICA’s capacity to balance member advocacy with regulatory compliance
  • Erosion of relationships with regulators if expectations are not met
  • Members’ heightened expectations for tailored compliance guidance and personalised support
Related Opportunities
  • Advocate for streamlined regulatory requirements that balance compliance efficiency with professional standards
  • Strengthen SAICA’s reputation as a proactive leader in regulatory compliance and member support
  • Provide targeted tools and resources to help members meet evolving regulatory standards effectively
  • Support operational efficiencies to manage the increasing regulatory burden sustainably
Strategic Response
  • Engaging proactively with the key regulators to manage expectations and advocate for realistic, balanced regulatory requirements
  • Assisting members with meeting CPD and other compliance requirements through tailored guidance, training, and resources
  • Implementing controls and enhancing operational efficiencies to address the administrative burden of CPD verification and other regulatory responsibilities
  • Launching initiatives on AML (Anti-Money Laundering), compliance-related product series, and agreed-upon procedures (AUP) reports to support members in adhering to complex regulations
  • Strengthening internal processes to handle dual responsibilities effectively while safeguarding SAICA’s primary role as a member body
Outlook for the Short, Medium and Long Term
  • SAICA maintains ongoing communication with various regulators to find a balance that satisfies the regulators’ expectations for performance in these areas while minimising the compliance burden on the Institute and its members
  • As a membership organisation, SAICA prioritises serving its members’ interests and fulfilling its public duty and thus aims to effectively reconcile the expectations of the regulators with the needs of its members
Impact on Capitals
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Impact on Strategic Pillars
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9. The state of the economy and its overall socio-economic impact
Digitisation

South Africa’s ongoing socio-economic challenges − such as high unemployment, energy disruptions, water scarcity, deteriorating infrastructure, poor education outcomes on gateway subjects, rising corruption, and weakened accountability − continue to pose significant risks to economic stability and growth. These challenges directly impact the accountancy profession, hindering the ability to attract and retain talent and contribute to national economic development

SAICA’s ability to create value for its members and stakeholders relies on our commitment to addressing these challenges and driving meaningful contributions toward economic stability and growth

Worsening socio-economic environment in South Africa

Risks and Opportunities
Risks
  • Weak governance and accountability affecting trust and credibility
  • Energy disruptions and water scarcity affecting business continuity
  • Decline in quality of education impacting the future pipeline of chartered accountants
Related Opportunities
  • Strengthening relationships with government to influence key policies
  • Contributing to anti-corruption efforts and good governance
  • Supporting the professionalisation of the public sector to enhance fiscal management and accountability
  • Advancing sustainability initiatives to foster economic resilience and stakeholder trust
Strategic Response
  • Monitoring and implementing SAICA’s Anti-Corruption initiatives, aligned with international best practices such as the Organisation for Economic Co-operation and Development (OECD), to bolster transparency and accountability within the public sector
  • SAICA’s efforts to support the professionalisation of the public sector ensure that public finance management is strengthened, enhancing the effectiveness and efficiency of public sector institutions
  • SAICA’s summits and engagements with government, civil society, and private sectors aim to promote transparency, accountability, and sustainability, driving social impact and reducing the risk of corruption and governance failures
Outlook for the Short, Medium and Long Term
  • SAICA’s support in the professionalisation of the public sector will aid in ensuring that government has the requisite skills and competencies to support good public finance management
  • SAICA’s 2024−2028 strategy emphasises governance, ethics, transparency, and accountability as key areas of focus
  • By supporting the professionalisation of the public sector and advancing ESG (Environmental, Social, Governance) reporting practices, SAICA will play a pivotal role in rebuilding South Africa’s economic resilience
  • Through continued advocacy, partnerships, and the promotion of ethical practices, SAICA remains committed to contributing to the broader socio-economic development goals of the National Development Plan and the United Nations’ Sustainable Development Goals (SDGs)
Impact on Capitals
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Impact on Strategic Pillars
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