Tag: SAICA

In several major global markets, accounting firms are finding it increasingly difficult to maintain a steady pipeline of qualified professionals. Fewer graduates are entering the profession, and progression to senior levels is taking longer. At the same time, firms face greater technical demands.

The South African Institute of Chartered Accountants (SAICA) is delivering a steady stream of qualified CAs(SA) from previously disadvantaged groups into the financial and accounting sector through its Thuthuka Nation Building project, transforming the profession while building our nation in line with the vision of the National Development Plan (NDP).

SAICA along with strategic partners such as FASSET, Bankseta and the National Skills Fund have undertaken to build capacity with the ultimate goal of accrediting Historically Disadvantaged Institutions (HDIs) accounting programmes so that students at these institutions can study to become chartered accountants (CAs[SA]) without having to leave their provinces.

SAICA's response to the VBS Mutual Bank report released by Advocate Terry Motau SC on 10 October 2018. The South African Institute of Chartered Accountants (SAICA) takes note of The Great Bank Heist, Advocate Terry Motau SC’s forensic report on the alleged fraud that took place at VBS Mutual Bank.

The Draft Taxation Laws Amendment Bill has proposed an amendment in order to address the tax leakage through a double dip in the claiming of the medical scheme fees tax credit.

The South African Institute of Chartered Accountants (SAICA) has launched Figure That!, a book about the story of the Chartered Accountancy profession in South Africa. The launch of Figure That! comes at a time when the profession is under severe scrutiny.

The future Chartered Accountant [CA(SA)] will look a lot different from the CA(SA) of the past, according to Professor Gary Swartz, founder of the Institute of Accounting Science (IAS), but if numbers remain numbers, and formulas remain formulas, what must change for the evolution of the CA(SA)?

Globally, tax is making headlines with an increasing focus on tax avoidance or aggressive tax planning, to increase the revenue collection by governments. While specific anti-avoidance rules are already available, general anti-avoidance rules (GAARs) were adopted in South Africa and elsewhere, coupled with a greater focus on addressing base erosion and profit shifting.

Is the accounting profession experiencing a crisis of credibility? Current events locally and internationally are demanding higher levels of accountability in the accounting and auditing professions. Unethical accounting and auditing practices in South Africa have reverberated globally, with the reputations of large accounting and auditing firms severely damaged by their links to public service corruption and financial misrepresentation by large multinational companies like Steinhoff.

Loshni Naidoo | Project Director: Integrated Reporting | SAICA | loshnin@saica.co.za  | www.saica.co.za | The South African Institute of Chartered Accountants (SAICA) has signed a statement...