Tag: South African Institute of Chartered Accountants (SAICA)

Recent commentary has created confusion around professional qualifications, regulatory designations and pathways into the Registered Auditor (RA) profession. As such, we wish to clarify the distinction between the Chartered Accountant (SA) [CA(SA)] designation, the registration of auditors by the Independent Regulatory Board for Auditors (IRBA) and other qualifications with professional bodies.

How much does South Africa really lose each year because our public sector lacks professionalism? It is a question that stirs taxpayers, businesses and ordinary citizens. Yet, despite the urgency, the answer remains elusive. The loss stretches far beyond the numbers in annual budget documents. It also runs deeper than the scandals that capture headlines. This is the price we are paying, not just as a nation but as households and communities.

We welcome the positive changes announced by National Treasury on 23 July 2025. These changes should assist the country in creating a budget and budget process that is efficient and effective. They aim to address the needs of South Africa, its people and the unique challenges and trade-offs we face.

In a world marked by heightened economic uncertainty, geopolitical tensions and shifting regulatory landscapes, the demand for integrity and transparency in business has never been greater. As professionals charged with stewardship over financial information, governance frameworks and assurance practices, chartered accountants are not merely working with numbers.

Parliament tabled the 2025 budgets on 19 February 2025, but they were not approved. The budgets proposed a 2% increase in the Value Added Tax (VAT) rate. The proposal suggested raising the VAT rate from 15% to 17%.

Business confidence in its most basic form is the optimism or pessimism of business in future economic conditions. This in most instances drives their willingness to invest, hire people and expand operations. According to a report by United Nations Trade and Development (UNCTAD), several factors beyond economic determinants are increasingly shaping investment decisions.

Those in the know say building a house can cost anything from R10,000 to R20,000 per square meter. Factors such as location, quality of the material used, and design complexity can significantly raise costs. High-end houses can cost upwards of R25,000 per square meter. It is a hefty price to pay, but one well worth it.

The impact of excessive government regulation and control is the harm to businesses and employees caused by excessive workloads and stress. This reduces productivity, morale and overall efficiency in public services. The state is intended to function in an efficient, economical and effective manner.

The last five years have seen an improvement in the audit profession when it comes to audit failures. Is this evidence that the entire financial ecosystem finally understands the importance of taking responsibility for the audit process or is it because of the increase in legislative mandate and high scrutiny that is currently imposed on the audit profession?

Collaboration between government and business is vital to realising economic growth. Government should set up a conducive environment for businesses to operate while businesses ensure that they help grow the economy and employ citizens. This partnership must ensure that socio-economic goals are also met for the benefit of citizens.