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Top Strategic Risks

The tables below provide insight into the top strategic risks:

Legend for Residual Risk Rating
Low
Moderate
High
Extreme
Legend for Risk Trend
Risk is increasing
Risk is reducing
Risk is stable
New risk

Risk Description

1. Competition Risk – reduced pipeline due to the growing presence of other accounting designations in the market

Opportunity

  • Position SAICA as the leading accounting designation through enhanced differentiation of its value proposition
  • Expand partnerships and collaborations with global and local professional bodies to reinforce SAICA's reputation and influence

Risk Response

  • Ongoing collaboration and effective engagement with all stakeholders, including regulators and local professional bodies
  • Continuous revision of the SAICA competency framework and implementation of the CA of the Future to ensure continued relevance of the SAICA designations
Strategic Pillars
Trust
Material Matters
Eco
Organisational Capitals Affected
TrustTrustTrust
Trend Year-on-Year

Risk Description

2. Perceived diminishing value of all SAICA designations resulting in a decline in membership (members or prospective members do not buy into the need and relevance of belonging to a professional body)

Opportunity

  • Adding value to members and prospective members by identifying the requisite skills required to meet future needs and aligning service offerings accordingly
  • SAICA has initiated a comprehensive brand assessment to measure the strength and value of its brand and designations

Risk Response

  • Monitoring of initiatives to enhance member value and review of feedback through Professional Health Index (PHI) scores
  • Implementation and monitoring of member services through independent feedback (PHI − member satisfaction) and timely intervention on negative trends
Strategic Pillars
Trust
Material Matters
Eco
Organisational Capitals Affected
TrustTrustTrust
Trend Year-on-Year

Risk Description

3. Negative member and stakeholder perception that:

  • SAICA is anti-transformation
  • Bursary process is discriminatory
  • Disciplinary processes are inefficient

Opportunity

  • Enhanced reputation through transparent and inclusive practices
  • Strengthening transformation initiatives
  • Promoting disciplinary process integrity

Risk Response

  • Continued advocacy
  • Thuthuka Bursary Policy - establishes a governance framework for due diligence, screening, and approval processes before engaging with donors and guides the creation of unique risk profiles based on risk assessments
  • Advocacy of SAICA disciplinary processes
Strategic Pillars
TrustTrust Trust
Material Matters
EcoEco
Organisational Capitals Affected
TrustTrust
Trend Year-on-Year

Risk Description

4. A lack of investment in mathematics education in South Africa is contributing to a declining learner pipeline for the SAICA professional designation. Factors such as a shortage of qualified mathematics teachers, poor learner performance in mathematics, and universities not accepting learners without mathematics for admission into accounting programmes are reducing the number of eligible entrants

Opportunity

  • Developing targeted support programmes in collaboration with schools, universities and other key role players to strengthen maths education

Risk Response

  • The development and promotion of mathematics
  • The promotion of the accountancy profession within all schools including rural schools
  • Maintain and enhance relations with the Provincial Departments of Basic Education to ensure a collaborative approach in the promotion of mathematics and the accountancy profession
Strategic Pillars
Trust
Material Matters
EcoEcoEco
Organisational Capitals Affected
TrustTrustTrust
Trend Year-on-Year
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Top strategic Risks (5 to 8)