RegulationAccounting StandardsSAICA charter empowers black accountants

SAICA charter empowers black accountants

South African accounting profession has unveiled a charter to empower black accountants and overcome a skills shortage

The South African accounting profession has released its own charter, the
Broad-Based Black Economic Empowerment (B-BBEE), in an effort to increase the
number of black accountants in its ranks.

Ignatius Sehoole,
South African
Institute of Chartered Accountants
(SAICA) executive president, said that,
since 1976, only 912 Africans had completed the requirements to register as
chartered accountants – a number which compared unfavourably with the total of
26,803 CAs in SA.

He said the charter was ‘to create an environment in which economic growth
may continue while facilitating effective transformation, the skills profile of
our population must move towards reflecting the country’s demographics while
still meeting growth needs and maintaining standards’.

Trevor Brown, Deloitte executive committee member, told SA business
publication Business Today that, over the past few years the firm had
invested more than R70m (?5m) in bursaries and getting people through
university. Eighty-percent of funding was earmarked for black students. Between
4,000 to 4,500 bursars (black and white) were supported over this period.

Further reading:

White students banned from SA accountancy Olympiad

SA needs more black accountants says president

Read
the full story in Business Today

Related Articles

EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

6d Emma Smith, Managing Editor
The great professional services shake-up

Accounting Standards The great professional services shake-up

1m Fergus Payne, Lewis Silkin
What do clients actually want from an accountant?

Accounting Standards What do clients actually want from an accountant?

2m Emma Smith, Managing Editor
IASB overhauls insurance accounting with issuance of IFRS 17

Accounting Standards IASB overhauls insurance accounting with issuance of IFRS 17

5m Alia Shoaib, Reporter
Flag It Up! How accountants can protect themselves from money launderers

Accounting Standards Flag It Up! How accountants can protect themselves from money launderers

7m Emma Smith, Managing Editor
Accountants shouldn’t neglect hybrid mismatch anti-avoidance rules

Accounting Standards Accountants shouldn’t neglect hybrid mismatch anti-avoidance rules

3m Alison Conley
Membership of the accountancy profession on the rise

Accounting Standards Membership of the accountancy profession on the rise

3m Alia Shoaib, Reporter
The real price of mates' rates in the provision of professional services

Accounting Standards The real price of mates' rates in the provision of professional services

4m DAC Beachcroft