KEY CHALLENGES

EXPERIENCED IN 2022

KEY CHALLENGES EXPERIENCED IN 2022

The year 2022 has not been without its obstacles, and from shifting market conditions, regulatory changes and evolving member needs, we have encountered challenges. Despite these obstacles, we have remained steadfastly committed to our purpose and values, and have worked with agility to adapt and thrive in this dynamic environment. In this report, we reflect on the challenges we faced and the strategies we employed to respond accordingly, demonstrating our resilience and ability to navigate through difficult times.

SLOW DIGITISATION PROGRESS

CHALLENGE

Slow progress to advance the digitisation strategy through the Ushintsho project due to insufficient capabilities has resulted in the project being 12 months behind schedule

RESPONSE

The change in service provider and architecture will enable efficient delivery in time and below cost; fully implemented by the end of 2024

STRATEGIC PILLARS

MATERIAL MATTERS

The year 2022 has not been without its obstacles, and from shifting market conditions, regulatory changes and evolving member needs, we have encountered challenges. Despite these obstacles, we have remained steadfastly committed to our purpose and values, and have worked with agility to adapt and thrive in this dynamic environment. In this report, we reflect on the challenges we faced and the strategies we employed to respond accordingly, demonstrating our resilience and ability to navigate through difficult times.

SLOW DIGITISATION PROGRESS

CHALLENGE

Slow progress to advance the digitisation strategy through the Ushintsho project due to insufficient capabilities has resulted in the project being 12 months behind schedule

RESPONSE

The change in service provider and architecture will enable efficient delivery in time and below cost; fully implemented by the end of 2024

STRATEGIC PILLARS

MATERIAL MATTERS

LOW PASS RATES IN BOTH ITC AND APC

CHALLENGE

A decline in the number of transformation student passes at third year and CTA level and a widening gap in pass rates of differential race groups at SAICA’s assessment level

RESPONSE

Continue raising funds to support students at third-year and CTA level, and raising funds to run the annual SAICA ITC and APC repeat programmes

STRATEGIC PILLARS

MATERIAL MATTERS

LOW PASS RATES IN BOTH ITC AND APC

CHALLENGE

A decline in the number of transformation student passes at third year and CTA level and a widening gap in pass rates of differential race groups at SAICA’s assessment level

RESPONSE

Continue raising funds to support students at third-year and CTA level, and raising funds to run the annual SAICA ITC and APC repeat programmes

STRATEGIC PILLARS

MATERIAL MATTERS

INCREASING STAFF TURNOVER

CHALLENGE

The employee turnover rate of 10,53%, despite being below the threshold of 12% that was set for the 2022 financial year, remains a challenge for SAICA and is exacerbated by the increasing demand for skills in the market

RESPONSE

SAICA has a talent management framework to identify successors and facilitate career development The employee recognition programme was enhanced to align with refreshed values. The remuneration and rewards policy is under review, and recruitment efforts in the 2022 financial year have yielded positive results. A benchmark will provide a comparison with other NPOs and relevant entities/industries

STRATEGIC PILLARS

MATERIAL MATTERS

INCREASING STAFF TURNOVER

CHALLENGE

The employee turnover rate of 10,53%, despite being below the threshold of 12% that was set for the 2022 financial year, remains a challenge for SAICA and is exacerbated by the increasing demand for skills in the market

RESPONSE

SAICA has a talent management framework to identify successors and facilitate career development The employee recognition programme was enhanced to align with refreshed values. The remuneration and rewards policy is under review, and recruitment efforts in the 2022 financial year have yielded positive results. A benchmark will provide a comparison with other NPOs and relevant entities/industries

STRATEGIC PILLARS

MATERIAL MATTERS

TAX PRACTITIONER NON-COMPLIANCE

CHALLENGE

Tax practitioners are aggrieved by the length of time taken to prosecute these matters and that SAICA is taking them through disciplinary processes where some respondents have only been a few days late with the tax practitioner declaration submission

RESPONSE

Constitution of an ad hoc committee commissioned by SETCO to oversee the timeous resolution of all complaints

Build efficiencies in the compliance and monitoring processes

STRATEGIC PILLARS

MATERIAL MATTERS

TAX PRACTITIONER NON-COMPLIANCE

CHALLENGE

Tax practitioners are aggrieved by the length of time taken to prosecute these matters and that SAICA is taking them through disciplinary processes where some respondents have only been a few days late with the tax practitioner declaration submission

RESPONSE

Constitution of an ad hoc committee commissioned by SETCO to oversee the timeous resolution of all complaints

Build efficiencies in the compliance and monitoring processes

STRATEGIC PILLARS

MATERIAL MATTERS

SEE INCREASING ROLE AS REGULATOR

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SAICA Integrated Report 2022.
All Rights Reserved.

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SAICA Integrated Report 2022. All Rights Reserved.

Site Links

Site Links

Head Office