RISK AND OPPORTUNITY

MANAGEMENT

RISK AND OPPORTUNITY MANAGEMENT

TOP STRATEGIC RISKS

The table below provides insight into the top strategic risks:

TOP STRATEGIC RISKS

The table below provides insight into the top strategic risks:

RISK 1

Diminishing value of all SAICA designations resulting in a decline in membership (members do not perceive value of belonging to a professional body)

OPPORTUNITY

Adding value to members and prospective members by identifying the requisite skills to meet future needs and aligning service offerings accordingly

RISK RESPONSE

  • Monitoring of initiatives to enhance member value and review of feedback through PHI scores
  • Implementation and monitoring of member services through independent feedback (PHi – member satisfaction) and timely intervention on negative trends

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 1

Diminishing value of all SAICA designations resulting in a decline in membership (members do not perceive value of belonging to a professional body)

OPPORTUNITY

Adding value to members and prospective members by identifying the requisite skills to meet future needs and aligning service offerings accordingly

RISK RESPONSE

  • Monitoring of initiatives to enhance member value and review of feedback through PHI scores
  • Implementation and monitoring of member services through independent feedback (PHi – member satisfaction) and timely intervention on negative trends

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 2

Members and associates losing their accreditation to perform regulatory functions through the repeal of applicable regulation (CA(SA) Designation Act, APA, etc)

OPPORTUNITY

  • Proactive engagement with members to meet their needs and requirements
  • Ongoing collaboration and effective engagement with regulators

RISK RESPONSE

  • Continuous in-depth monitoring of regulator perception through independent feedback and timely intervention on negative trends

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 2

Members and associates losing their accreditation to perform regulatory functions through the repeal of applicable regulation (CA(SA) Designation Act, APA, etc)

OPPORTUNITY

  • Proactive engagement with members to meet their needs and requirements
  • Ongoing collaboration and effective engagement with regulators

RISK RESPONSE

  • Continuous in-depth monitoring of regulator perception through independent feedback and timely intervention on negative trends

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 3

Loss of confidence in members’ professional competencies (including their conduct in terms of the Code of Professional Conduct and competencies required by CA2025) and skills

OPPORTUNITY

Showcasing and elevation of the role and impact of the profession in the economy through thought leadership and value-creation initiatives

RISK RESPONSE

  • Continuous review of SAICA’s competency framework
  • Oversight and implementation of the CA2025 and CPD policy

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 3

Loss of confidence in members’ professional competencies (including their conduct in terms of the Code of Professional Conduct and competencies required by CA2025) and skills

OPPORTUNITY

Showcasing and elevation of the role and impact of the profession in the economy through thought leadership and value-creation initiatives

RISK RESPONSE

  • Continuous review of SAICA’s competency framework
  • Oversight and implementation of the CA2025 and CPD policy

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 4

Loss of confidence in SAICA’s educational programmes, that they will not produce students with the competencies required by training offices and the market resulting in SAICA’s inability to attract new members

OPPORTUNITY

Differentiating marketing, communication and public relations activities as part of the trust campaign both locally and internationally

RISK RESPONSE

  • Continuous review of SAICA’s competency framework and the implementation of the CA2025 outcomes
  • Review of SAICA’s training regulations and effective implementation thereof

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 4

Loss of confidence in SAICA’s educational programmes, that they will not produce students with the competencies required by training offices and the market resulting in SAICA’s inability to attract new members

OPPORTUNITY

Differentiating marketing, communication and public relations activities as part of the trust campaign both locally and internationally

RISK RESPONSE

  • Continuous review of SAICA’s competency framework and the implementation of the CA2025 outcomes
  • Review of SAICA’s training regulations and effective implementation thereof

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 5

Loss of strategic stakeholder (government and funders) confidence and inability to attract funding for growth and transformation initiatives

OPPORTUNITY

Showcase members’ contribution to the SA economy and society, as well as SDGs

RISK RESPONSE

  • Effective stakeholder engagement
  • Marketing and communication of the growth and transformation initiatives

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 5

Loss of strategic stakeholder (government and funders) confidence and inability to attract funding for growth and transformation initiatives

OPPORTUNITY

Showcase members’ contribution to the SA economy and society, as well as SDGs

RISK RESPONSE

  • Effective stakeholder engagement
  • Marketing and communication of the growth and transformation initiatives

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 6

A decline in intake of learners to attract into the profession

OPPORTUNITY

Promotion of the accountancy profession and mathematics within all schools including rural schools

RISK RESPONSE

  • Established relations with Department of Basic Education to ensure a collaborative approach in the promotion of mathematics and the accountancy profession

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 6

A decline in intake of learners to attract into the profession

OPPORTUNITY

Promotion of the accountancy profession and mathematics within all schools including rural schools

RISK RESPONSE

  • Established relations with Department of Basic Education to ensure a collaborative approach in the promotion of mathematics and the accountancy profession

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 7

Unable to serve SAICA members and stakeholders resulting in SAICA Group ceasing to exist

OPPORTUNITY

Increased understanding of members’ and stakeholders’ expectations

RISK RESPONSE

  • Engage members on SAICA’s value proposition
  • Maintain long-term contracts with funders

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y

RISK 7

Unable to serve SAICA members and stakeholders resulting in SAICA Group ceasing to exist

OPPORTUNITY

Increased understanding of members’ and stakeholders’ expectations

RISK RESPONSE

  • Engage members on SAICA’s value proposition
  • Maintain long-term contracts with funders

STRATEGIC PILLARS & MATERIAL MATTERS

ORGANISATIONAL CAPITALS AFFECTED

TREND Y-O-Y