2023 was an exciting and eventful year! As we traverse the dynamic landscape of the accounting profession in 2023, we reflect on a few of the many engaging and insightful events that SAICA hosted, leaving an indelible mark on many of our members during this past year. Through extensive communication and engagement campaigns and activities, SAICA managed to connect successfully with many of our members and stakeholders, and, above all, to make a difference.
If you have missed out this year, be sure to get involved next year!
FLAGSHIP EVENTS
Here are snapshots of some of the events.
Golf Day: a perfect swing of networking and fun
The Central Region Golf Day kicked off the year in style, blending the thrill of the game with unparalleled networking opportunities. Held at the Bloemfontein Golf Club, accounting professionals and industry leaders took to the greens for a day of friendly competition and camaraderie. The event not only showcased the region’s dedication to fostering professional connections but also highlighted the importance of a healthy work/life balance.
Spring Conference: Thriving in the wild
The theme for the 2023 Northern Region Spring Conference – ‘Thriving in the Wild: Navigating the South African Business Landscape’ – was an appropriate summary of the benefits that members derive from any of the activities of the Northern Region. The Northern Region team travelled to the heart of Limpopo in September for the annual Northern Region Spring Conference, the region’s flagship event. Speakers included Justice Malala, Dr Roelof Botha, Mario Fazekas, Nicholas Riemer, Ben Theron and Dr Relebohile Ncha. Members gained insights, shared experiences, and forged lasting connections.
Summer Conference: The flagship extravaganza
The crown jewel of the Central Region’s event calendar, the Summer Conference, unfolded as a spectacular showcase of innovation, knowledge and collaboration, with the theme ADAPT and TRIVE. Held at the prestigious Alpine Heath Resort in the Drakensberg, this flagship event attracted members and associates from far and wide, offering a unique blend of keynote sessions, interactive team-building activities, and networking opportunities with sponsors, colleagues and SAICA staff.
The Summer Conference reaffirmed the Central Region’s commitment to advancing the accounting profession and equipping professionals with the skills to navigate an ever-evolving industry.
Coffee Conversations
The aim of these get-togethers is not only to create and expose members to interesting and impactful topics but also to stimulate meaningful dialogue that can have a true impact on the members attending.
Coffee Conversation-type events are to be held in several of the districts. These generally include presentations on developments in the profession.
The Cape Town office reports that they started these conversations in 2022 and over the past two years, they have hosted the likes of the Mayor of Cape Town, the CEO of Wesgro, the CEO of the Cape Chamber of Commerce and Industry, and Knife Capital’s CEO, catering to our entrepreneurial members. We are looking to expand the scope of these sessions by bringing you our Entrepreneurship Series. The series will offer different discussion topics that are relevant to various aspects of entrepreneurship, connecting top-tier entrepreneurs for evenings of learning, networking, and inspiration and helping our members develop, design, implement and grow their business ideas.
Women in Leadership event: Passion meets purpose
The Women in Leadership event was held at the Indaba Hotel in Fourways with the theme ‘When Passion Meets Purpose, She Makes a Difference’. Attendees raved about the influential speakers, useful information, authentic communication and recognition of shared experiences!
Tax discussion forums
The discussions are hosted both in person and online, tackling intricate tax issues head-on and bringing together experts and practitioners to navigate the complexities of the tax, legislation and compliance landscape.
Tech Talks
SAICA’s monthly event series, including Tech Talk which seeks to address the constant changes in legislation and financial reporting in the public sector and ensure that members are up to date, continued to attract substantial participation, with attendance often exceeding 2 500 members per month. The successful launch of the compliance and practice series in November 2023 and the anticipation of new products in 2024 highlight SAICA’s dedication to offering a well-rounded and accessible suite of support services to its members. These initiatives are designed to provide real-time engagement with presenters and experts, further enriching the learning and professional development experiences of SAICA members.
Insights into Launching a New Business event
A very successful Johannesburg District Association event on ‘Insights into Launching a New Business’ was held at the Wanderers Club. Selected entrepreneurs showcased their products and services and shared their learnings using TED Talk-type presentations. These were followed by a panel discussion with experienced entrepreneurs.
Informal monthly breakfasts
Informal monthly breakfasts were held with members in Pretoria, hosted jointly by the chairperson of the Pretoria District Association and SAICA’s Northern Region Executive. The aim is to have regular conversations with members to obtain business insights for SAICA and to let members know what value SAICA offers them.
Stakeholder engagements
To provide the best possible value for members, we recognise that stakeholder engagement is key to ensuring impactful outcomes. Two such sessions were held: one with a delegation of local SARS officials to directly engage with our tax practitioners and another with our Public Sector constituency. The latter aimed to facilitate discussions on professionalising the public sector, sharing best practices for audit outcomes and clean administration, and fostering support among members and associates for effective service delivery.
Feedback on both these sessions was extremely positive and the engagements made a significant difference for our members!
The Northern Regional Executive conducted a comprehensive outreach with members in the Northern Region, meeting with influential members across industry sectors, professional titles, and levels of experience. Meetings were frequently one-on-one, in person, with valuable insights being shared regarding how best members would like SAICA to provide member value. In addition, the Regional Executive, the Executive: Member Engagement and members of the Independent Regulatory Board for Auditors team met with small and medium-sized practices in the region (and throughout South Africa), some of which were also training offices, listening to concerns and providing SAICA leadership with comprehensive feedback. Significant challenges experienced by members are communicated back to SAICA and IRBA leadership.
Focus on younger members
A further highlight was the roll-out of our New Members Welcome Events and the Young Difference Makers Conferences across the three major cities in the country − Cape Town, Durban and Johannesburg. We paired this with the Top-35-under-35 networking events for two days of leadership development and networking.
The programme was diverse and catered for all young professionals, touching on topics such as Developing your Leadership Potential, Directorships and Personal Mastery, to name but a few. The feedback from delegates was incredible and we are keenly looking at the career paths and impact of young members who attended.
Sense of community gatherings
Part of the Member Engagement Division’s mandate is to create a sense of community and arrange networking opportunities for members. One of the events worth highlighting is the annual Mountain Bike and Trail Run Family Day held in Nelson Mandela Bay. This event, hosted in collaboration with the district committee, has been going from strength to strength − even bad weather leading up to the event and a venue change did not dampen the enthusiasm of the participants.
Our trainees and younger members also came out in their numbers to participate in the Annual Indoor Soccer Day hosted in East London. This year saw over 200 participants and supporters at the event.
Other engagement opportunities included a series of business breakfasts in Gqeberha, George and East London. The Border-Kei Annual Dinner in East London was especially well supported and aided in us establishing valuable relationships with key stakeholders in the district, which we are keen to explore in 2024!
Our Member Lounge based in the Cape Town office is ideal for formal and informal networking and member engagement. By hosting members in our own ‘backyard’ we provide a space in which to cultivate those connections and allow members to connect with SAICA and the CA community.
Dynamic conference hubs
SAICA facilitates member lounges and training rooms. Christiaan Vorster, the Cape Town Regional Executive, said it proved again the ideal setting to host international colleagues as shown by the ISAB’s Emerging Economies Group that held their annual meeting in the facilities. More is to come in the new year, as SAICA is hosting the IFAC PAIB meeting in March 2024!
TECHNICAL ACHIEVEMENTS
One of SAICA’s crowning achievements in 2023 was the successful launch, in collaboration with the JSE, of the first two Sustainability Disclosure Standards in South Africa, on 29 June at the JSE. This was a significant move towards integrating international sustainability practices with local needs. Heralding a new era of reporting and accountability, it provides a common language for businesses to showcase their commitment to sustainable practices for the benefit of everyone.
Undertaken in partnership with the International Sustainability Standards Board (ISSB), with the participation of the Companies Intellectual Properties Commission (CIPC), the launch marked a critical step in bringing globally recognised sustainability frameworks to the South African reporting landscape.
Inaugural public sector forum
August 2023 witnessed another first for SAICA: its inaugural Public Sector Forum, which aims to support the achievement of its strategic objectives of member value and relevance and reputation in the public sector. This event convened a diverse array of speakers, including the chair of the Standing Committee on Finance (SCOF), audit leaders, representatives from the Auditor- General, and other key figures.
The forum was a significant step in encouraging SAICA members to apply their expertise in the public sector, advocating for essential reforms and higher standards of ethics and governance. As Mkhuleko Hlengwa, the chairperson of SCOPA, stated, ‘We cannot leave running South Africa only to politicians.’
This sentiment resonated with SAICA’s objectives to professionalise the public sector and to promote higher ethical standards and governance. The event, which will become an annual occurrence, will track the activities of SAICA’s Public Sector Committee and its initiatives in elevating professional standards within the public sector. This event surpassed the record number of live stream views of the ISSB Standards launch by attracting more than 10 000 views on the live stream. Indeed, the record was surpassed twice by the Standards unit in the same year.
Hosting international boards and facilitating global dialogue
Another highlight of SAICA’s international engagement in 2023 was hosting the International Accounting Standards Board (IASB) representatives in Cape Town and the International Audit and Assurance Standards Board (IAASB) representatives in Johannesburg. These events, particularly the Emerging Economies Group (EEG) meeting of the IASB, delved into the unique challenges and opportunities facing emerging economies in financial reporting requirements and obligations. The sessions provided a unique platform for SAICA members to engage directly with global standard-setters, offering valuable insights and perspectives from a South African viewpoint. This underscores SAICA’s role in shaping global financial practices and our commitment to bringing these discussions to our members.
Extensive member engagement and global recognition
The Standards team at SAICA interacted with over 35 000 members through various events and products throughout the year. This extensive engagement reflects the organisation’s gratitude and appreciation for its members’ unwavering support and active participation.
SAICA’s recent global recognition as the number one trusted professional organisation exemplifies our prestigious standing and commitment to maintaining the highest professional standards.
Influential role in national policy and legislation
SAICA’s impact extended beyond its immediate community, influencing national policy and legislation. The Institute was frequently invited to present to the South African Parliament on various critical issues, including tax and budget submissions, public procurement policies, and suggestions for amendments to legislation like the Companies Act.
This involvement highlights the vital role SAICA and our members play in contributing to the South African economy and shaping the country’s financial landscape. Notably, SAICA was the only accounting institute invited to these sessions, which were not open to the general public, further cementing our status as a key influencer in national affairs.
CONCLUSION
We hope that we assisted our members with navigating the vibrant and diverse landscape of the South African business world. Challenges may seem daunting, but they also present opportunities to grow, innovate, and overcome. We encourage members to embrace the challenges with open arms, knowing that they are the catalysts for innovation and progress.
Thank you for choosing to be a part of this incredible journey. We thoroughly enjoy engaging with all our members. Buckle up, stay inspired, and get ready for an exciting 2024!