OUR CONTEXT

OUR BUSINESS

Material Matters

The legend below illustrates how each matter has evolved during the reporting period. Material matters are ranked according to priority.

Legend

Worsening

Improving

Stable

New matter

1. Maintaining the trust of the public by upholding the highest standards of members’ professional conduct

SAICA recognises the critical role of disciplinary matters in maintaining trust, ensuring ethical behaviour, and upholding the profession’s integrity. The accountancy profession faces increased scrutiny due to complex regulations and public concerns surrounding financial scandals

By maintaining robust disciplinary guidelines and procedures, SAICA reinforces its commitment to ethics, accountability, and public confidence

An improvement in key CA(SA) designation brand health indicators

Risks and Opportunities

Risks

Damage to the reputation and trust of the profession if members are found guilty of misconduct
Damage to the reputation and trust of the profession if it appears that SAICA does not hold its members to the professional standards
Legal and regulatory action, including financial liability for imposed fines on members
Loss of SAICA’s professional status and recognition
Increase in disciplinary cases negatively impacting the brand
Implication of a few SAICA members/trainees in alleged unethical behaviour tainting the brand

Related Opportunities

Advocacy for high-quality ethical standards and alignment of SAICA’s Disciplinary Code with international benchmarks
Continued initiatives to support the effectiveness of the financial ecosystem
Communication and engagement with key stakeholders to maintain good relationships
Creation of efficiencies in the disciplinary process and conclusion of backlog cases

Strategic Response

Contribute to the fight against corruption through initiatives like Unite4Mzansi™, Courageous Conversations, and the anti-corruption summit addressing Zondo Commission issues
SAICA’s audit reform initiative continues to play a critical role in maintaining trust in the profession
The Ethics-in-Practice Series continues to instil high ethical standards
Material amendments to the SAICA Code of Professional Conduct following extensive consultation with IESBA and IRBA. The process ensures SAICA’s Code is aligned with international standards and enhances SAICA’s ethical framework
Amendments to SAICA’s Disciplinary Code and by-laws streamline processes, reduce legal disputes, and enhance efficiency
Successfully reviewed and closed 18 State Capture-related cases referred by the Department of Public Enterprises
Enhanced use of the automated case management system to streamline disciplinary processes
Thought leadership efforts such as features in Accountancy SA magazine reinforce SAICA’s commitment to trust and ethics

Outlook for the Short, Medium and Long Term

Conduct extensive consultations with stakeholders (eg auditing firms, regulators, board committees, government, Business Leadership South Africa (BLSA), Business Unity South Africa (BUSA) and users of financial statements) and position SAICA as a leader in ethics and accountability
Focus on ensuring relevance amidst digitalisation, sustainability reporting, and reputational challenges
Strengthen disciplinary processes through independent reviews and enhance collaboration with regulators and law enforcement
Ensure sustainability and relevance in a transforming financial reporting landscape
Implement the activities for approved establishment of a Centre for Audit Quality (CAQ) as a SAICA-related entity

Impact on Capitals

Impact on Strategic Pillars

2. Digitisation strategy and the implementation challenge it poses, particularly in terms of member experience

Accelerating the digitisation strategy is essential for creating efficiencies, automating processes, and building a robust, stable IT platform critical to executing SAICA’s strategy and addressing the demands of the evolving world of work

Despite significant progress under Stage 3 of the Ushintsho programme, delays in the rewrite of the Training Contract Management System (TCMS) and the Electronic Assessment Tool (EAT) have caused system instability. These challenges result in a backlog of queries and contracts awaiting IRBA approval and payment, impacting member experience and operational efficiency

The Ushintsho programme and EAT Go-live are on track for delivery in 2025

Risks and Opportunities

Risks

System instability causing delays in addressing member queries and processing training contracts
Insufficient capacity or capabilities to execute the digitisation strategy effectively
Potential erosion of member confidence due to prolonged project timelines and unresolved issues
Delays in creating an integrated and automated IT platform to support strategic goals

Related Opportunities

Enhance efficiencies and member experiences through accelerated digitisation, real-time query resolution, and streamlined services
Build a robust IT foundation to meet SAICA’s evolving needs
Strengthen risk and compliance management within the Ushintsho programme
Enable data-driven decision-making with improved education and training insights
Automate key processes like HR, finance, and disciplinary case management to boost sustainability

Strategic Response

Guided by SAICA’s IT Strategy, the programme is making strides toward building a stable and scalable IT platform in Stage 3
Comprehensive testing, feedback-driven adjustments, and additional staff have been onboarded to manage the Training Contract Management System (TCMS) and Exam Assessment Training (EAT) backlog, improve system speed, and address documentation migration issues
Initiatives include modernising the member portal, improving engagement with future professionals, and streamlining legal and disciplinary case handling
Oversight and monitoring of milestones by the Digital Transformation Governance Committee to ensure progress and alignment with strategic goals

Read more about the digital transformation journey

Outlook for the Short, Medium and Long Term

Short Term

Resolve TCMS and EAT issues, including speed concerns and system stability
Implement improvements to query management
Prepare for the March 2025 Go-Live of the EAT system while addressing member feedback

Medium Term

Ensure full deployment of stable and functional TCMS and EAT systems to improve operational efficiency
Leverage digitisation to meet evolving member needs and enhance service delivery

Long Term

Achieve the benefits of a fully integrated IT platform that enables automation, efficiency, and data-driven insights
By accelerating its digital transformation journey, SAICA aims to future-proof its operations, improve member value, and create a resilient and innovative organisation equipped for the evolving demands of the profession

Impact on Capitals

Impact on Strategic Pillars

3. Valuing our human capital and emphasising the importance of caring for our talent and members in the value creation process

SAICA recognises that its human capital is central to achieving its strategic ambitions. To this end, we launched Project ReCAlibrate, a comprehensive organisational review informed by our strategy, leadership insights, and external perspectives

Driven by design principles aligned with SAICA’s strategic objectives and operating model, this initiative aims to enable a consistently engaged, collaborative, and inspiring organisation. By prioritising human capital, we highlight our commitment to cultivating a resilient and connected community essential for sustainable value creation

SAICA’s ability to enhance member centricity and deliver value is underpinned by seamless integration and collaboration across all operations

Revised operating model and capability structure approved by Board

Risks and Opportunities

Risks

Reduced employee engagement or morale may hinder SAICA’s ability to achieve strategic goals
Difficulty in retaining and attracting top talent could impact organisational effectiveness
Insufficient change management could lead to resistance, inefficiencies, or misalignment during transitions
Failure to address member needs effectively may lead to decreased member satisfaction and engagement

Related Opportunities

Promote a sense of belonging through member-centric and community-focused engagements
Enhance understanding of evolving member needs to inform the design of tailored initiatives
Cultivate a collaborative and inspiring organisational culture to attract and retain talent
Build an environment where employees feel valued and motivated
Invest in change management to ensure smooth transitions and maintain productivity
Invest in skills development to meet the needs of the new operating model

Strategic Response

SAICA’s prioritises fostering a supportive and empowering environment for employees and members:

Customer-Centricity – Placing members and employees at the core of the operating model by optimising processes and interactions to meet their evolving needs
Phased Organisational Change – Implementing changes incrementally to ensure smooth transitions, align processes, and build internal capacity for long-term success
Capacity-Building – Equipping employees to navigate transformation through targeted training and coaching programmes
Comprehensive Wellness Framework – Addressing mental, physical, social, and financial well-being for employees through a robust four-pillar wellness framework supported by digital tools and targeted mental health initiatives for members
Enhanced Member Engagement – Strengthening connections through a clear member value proposition (MVP) and tailored wellness initiatives that ensure members feel valued and supported
Feedback-Driven Improvements – Leveraging insights from engagement surveys and feedback loops to drive continuous improvements in employee and member experiences
Integrated Centre and Regional Functions – Strengthening collaboration between central and regional offices to deliver consistent, effective, and personalised member experiences

Outlook for the Short, Medium and Long Term

Project ReCAlibrate – Further embedding the outcomes of Project ReCAlibrate through ongoing change management and capability-building initiatives
Talent Development – Conducting regular talent reviews to inform targeted developmental interventions for employees, ensuring alignment with strategic goals
High-Performance Culture – Review and roll out the coaching programme to embed a culture of high performance across the organisation
Member Expectations – Finalising the Hierarchy of Member Expectations, using a phased approach to implement and prioritise services based on member needs, ensuring continuous improvement in member satisfaction
Remuneration – Salary benchmarking will be conducted to ensure that employees are competitively remunerated in line with the market

Impact on Capitals

Impact on Strategic Pillars

RECALIBRATE REIMAGINE RENEW

Impact of artificial intelligence