STAKEHOLDERS, INTERESTS

AND ENGAGEMENT CHANNELS

STAKEHOLDERS, INTERESTS AND ENGAGEMENT CHANNELS

LEGEND:

Worsening

Improving

Stable

Expectations met

Improvements required

Expectations not met

The tables below demonstrate our commitment, engagement and quality of our relationships with key stakeholders through the value we have delivered

LEGEND:

Worsening

Improving

Stable

Expectations met

Improvements required

Expectations not met

REGULATORS

(Stakeholder Group A)

THEIR MATERIAL INTERESTS

  • SAICA and member compliance with regulations
  • Input on regulations to assist in their development

HOW WE ADDRESSED THESE INTERESTS IN 2022

  • Advocate for members, on proposed and existing legislation, such as the proposed amendments to the Financial Intelligence Centre Act

RISKS and
OPPORTUNITIES

  • Failing to comply with regulatory / regulator’s requirements
  • Proactive engagement with regulators (opportunity)

STRATEGIC
RESPONSE

  • Governance structures to ensure compliance
  • Robust regulatory framework
  • Compliance monitoring

KEY METRICS/OBJECTIVES TRACKED TO MONITOR VALUE DELIVERED

  • External assurance of regulatory compliance
  • Good relationship with regulators
  • No fines or penalties
  • Regulators engagement score = 89% (FY21: 50%)
  • VALUE DELIVERED

STRATEGIC INITIATIVES AFFECTED

MATERIAL MATTERS AFFECTED

REGULATORS

(Stakeholder Group A)

THEIR MATERIAL INTERESTS

  • SAICA and member compliance with regulations
  • Input on regulations to assist in their development

HOW WE ADDRESSED THESE INTERESTS IN 2022

  • Advocate for members, on proposed and existing legislation, such as the proposed amendments to the Financial Intelligence Centre Act

RISKS and
OPPORTUNITIES

  • Failing to comply with regulatory / regulator’s requirements
  • Proactive engagement with regulators (opportunity)

STRATEGIC
RESPONSE

  • Governance structures to ensure compliance
  • Robust regulatory framework
  • Compliance monitoring

KEY METRICS/OBJECTIVES TRACKED TO MONITOR VALUE DELIVERED

  • External assurance of regulatory compliance
  • Good relationship with regulators
  • No fines or penalties
  • Regulators engagement score = 89% (FY21: 50%)
  • VALUE DELIVERED

STRATEGIC INITIATIVES AFFECTED

MATERIAL MATTERS AFFECTED

GOVERNMENT

(Stakeholder Group A)

THEIR MATERIAL INTERESTS

  • Well-functioning capital markets
  • Transforming the profession in line with the national context
  • Identifying opportunities to support the National Development Plan, particularly eliminating corruption and providing accounting support for African entrepreneurs and emerging small businesses

HOW WE ADDRESSED THESE INTERESTS IN 2022

  • Raised awareness with Parliament as to why the budget is incomplete
  • Engaged SARS to advocate for a fairer tax system
  • Advocacy submissions to improve governance and financial reporting in the public sector
  • Submission to the Auditor-General of South Africa on the Impact of 2017 Preferential Procurement Regulations Constitutional Court judgment on the 2021/22 audit outcomes

RISKS and
OPPORTUNITIES

  • Contribute to the development of the South African economy and society
  • Loss of stakeholder confidence and inability to attract funding for growth and transformation

STRATEGIC
RESPONSE

  • Forge good relationships with government bodies
  • Explore opportunities to play a leadership role in addressing key challenges facing the country

KEY METRICS/OBJECTIVES TRACKED TO MONITOR VALUE DELIVERED

  • Government engagement score = 87% (FY21: 100%)
  • VALUE DELIVERED

STRATEGIC INITIATIVES AFFECTED

MATERIAL MATTERS AFFECTED

GOVERNMENT

(Stakeholder Group A)

THEIR MATERIAL INTERESTS

  • Well-functioning capital markets
  • Transforming the profession in line with the national context
  • Identifying opportunities to support the National Development Plan, particularly eliminating corruption and providing accounting support for African entrepreneurs and emerging small businesses

HOW WE ADDRESSED THESE INTERESTS IN 2022

  • Raised awareness with Parliament as to why the budget is incomplete
  • Engaged SARS to advocate for a fairer tax system
  • Advocacy submissions to improve governance and financial reporting in the public sector
  • Submission to the Auditor-General of South Africa on the Impact of 2017 Preferential Procurement Regulations Constitutional Court judgment on the 2021/22 audit outcomes

RISKS and
OPPORTUNITIES

  • Contribute to the development of the South African economy and society
  • Loss of stakeholder confidence and inability to attract funding for growth and transformation

STRATEGIC
RESPONSE

  • Forge good relationships with government bodies
  • Explore opportunities to play a leadership role in addressing key challenges facing the country

KEY METRICS/OBJECTIVES TRACKED TO MONITOR VALUE DELIVERED

  • Government engagement score = 87% (FY21: 100%)
  • VALUE DELIVERED

STRATEGIC INITIATIVES AFFECTED

MATERIAL MATTERS AFFECTED

FIRMS - STAKEHOLDER GROUP a

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SAICA Integrated Report 2022.
All Rights Reserved.

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SAICA Integrated Report 2022. All Rights Reserved.

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