Hence, the institute plays an influential role in the Eastern, Central & Southern African Federation of Accountants (ECSAFA).
ECSAFA coordinates the development of the accountancy profession and promotes internationally recognised standards of professional competence and conduct in Eastern, Central and Southern Africa.
The GAA is intended to promote quality services, share information and collaborate on important international issues.
In July 2023 SAICA launched the ISSB standards[7] in South Africa in order to provide globally consistent, trustworthy, and comparable sustainability reporting.
Although it did not become a regular publication till 1954, the journal was the sole communication vehicle aimed directly at members and indicated a need for unification.
The second major milestone on the road to unification occurred in 1927, when the Chartered Accountants Designation (Private) Act was passed by parliament.
While SAICA established numerous committees to improve its service to members and to set standards, the profession recognised the need to open the doors to more black and female CAs(SA).
In 2002 its name was changed to the Thuthuka Bursary Fund and it was fully incorporated into the institute's transformation and growth strategy.
The Thuthuka project, an initiative by SAICA to promote skills development and transformation in the CA profession, was launched in the Eastern Cape in 2002 and it was expanded to Limpopo and Kwazulu-Natal in 2004.
This programme is providing education support to African learners and students, and seeks to uplift communities while benefiting the CA profession.
Confusion often arises regarding the differing roles and responsibilities of SAICA and the IRBA [previously the Public Accountants and Auditors Board (PAAB)].
SAICA is a non-profit, voluntary body that provides a wide range of services to its members and associates.
Following qualification, chartered accountants entering public practice are required to register with the IRBA, whilst keeping their SAICA membership, and are governed by its regulations.
The mission of the IRBA, on the other hand, is to protect the financial interest of the South African public and international investors in South Africa, through the effective regulation of audits conducted by registered auditors and accountants, and in accordance with internationally recognised standards and processes.
This is achieved by providing the means and the regulatory framework for the education and training of adequate numbers of competent and disciplined accountants and auditors, to serve the needs of South Africa.
[2] In order to ensure that all members, associates and trainees comply with the high professional standards set, SAICA provides technical support, continuing professional development (lifelong learning), disseminates and communicates the latest information on technical developments and business trends to its constituencies.
One of SAICA's major objectives is to ensure that membership of the accountancy profession better reflects the population demographics of South Africa.
The IRBA exercises a monitoring role over the SAICA public practice training and QE I examination processes.
The IRBA conducts practice reviews, investigations and disciplinary processes for registered auditors and accountants.
According to the Constitution and By-laws of SAICA, any alleged misconduct by a person who is a member of both bodies is dealt with by the IRBA, in the first instance.