Author: Bongani Coka, CE, South African Institute of Professional Accountants (SAIPA)
 
This year, SAIPA proudly celebrates 35 years of distinguished achievement. The Institute’s contributions not only to the accounting profession, but to economic growth and social upliftment in South Africa, positions it as a guardian of integrity and a catalyst for change.
 
We are enormously proud of the initiatives we have recently undertaken in this regard:
 
Economic empowerment and education
SAIPA has, from its inception, supported the empowerment of all social groups in the accounting industry. Currently, our campaigns and roadshows actively promote the profession as a career of choice. We’re also passionate about the growth and transformation of the profession and this is one of our strategic objectives.
 
Empowerment is built on education and we pride ourselves on our two programmes, which include our annual National Accounting Olympiad that has been running for more than 10 years and has recently been extended to reach a bigger audience, with the inclusion of Grade 11 learners, as well as Grade 12s. This enables us to uncover more bright young minds in the country.
 
In addition, our Project Achiever initiative - a joint effort by SAIPA and the Finance and Accounting Services Sector Education and Training Authority (FASSET) - brings about transformation in the accounting field by means of assisting black candidates who meet our qualifying criteria by funding their further studies with SAIPA.
 
Whether it’s carrying out missions across the continent to strengthen accounting practices, or improving our Continuous Professional Development (CPD) programmes, SAIPA is driven by an unrelenting energy for growth.
 
Business rescue and contribution to legislation
Late last year, SAIPA became one of two professional bodies accredited to regulate members who practice business rescue. The Companies Act allows for business rescue - the rehabilitation of financially distressed organisations. With this accreditation, we can provide our members with support and guidance to ensure that businesses in crisis can benefit from a reliable service.
 
Further, SAIPA has always taken an active interest in proposed legislation that affects the country’s financial systems, economy and people. Recently, we submitted comments to Parliament on amendments to the tax laws bill, tax administration laws bill and Financial Intelligence Centre Amendment (FICA) bill. The latter relating to the constitutionality of warrantless searches.
 
Humble beginnings
But by the mid-1960s, a shortage of accountants was becoming a major concern. In 1980, a specially-formed commission concluded that a second tier of accounting professional should be created to meet the demands of a rapidly expanding business sector. This new guard focused on the technical aspects of the field, freeing accountants to pursue auditing and other specialised tasks.
 
A regulating body was established that would eventually become SAIPA and its first act was to have its courses approved for presentation at Technikons, with the Minister of Education signing its application almost immediately.
 
At first, acceptance of the new Professional Accountant (SA) designation was slow and the organisation struggled to remain financially viable. But we survived our early years through sheer persistence and what we reaped was a lasting legacy as a driving force in South Africa.
 
Surviving Beyond the Numbers
Our 35th anniversary will also be commemorated at our National Conference, which will be held from 19 to 21 October at the Cape Town International Convention Centre. This year’s theme is “Surviving Beyond the Numbers”, very much appropriate because currently the Professional Accountant (SA) is regarded as a trusted business partner and strategic advisor, rather than a bean counter. Their employers and clients look to them for critical operational and strategic insights.
 
The conference’s programme will include keynote speakers, researchers, practitioners and industry leaders. Among the confirmed speakers are Judge Dennis Davis and Professor Mervyn King.
 
Our history bears witness that SAIPA has played a pivotal role in lifting the profession to its present status of recognition and trust. We’re honoured to bear its banner and thank our members for their support.
 
For more information on the SAIPA National Conference please visit. http://www.saipa.co.za/resources/417143/saipa-national-conference-2017
 
ENDS

MEDIA CONTACT: Idéle Prinsloo, 082 573 9219, idele@thatpoint.co.za, www.atthatpoint.co.za 
 
For more information on SAIPA please visit:
Website: www.saipa.co.za
Twitter: @SAIPAcomms
LinkedIn: South African institute of Professional Accountants Company
Facebook: South African Institute of Professional Accountants

The South African Institute of Professional Accountants (SAIPA) and The School of Government at the University of the Western Cape (UWC) have launched a post-graduate qualification in public sector financial management aimed specifically at senior managers and chief financial officers (CFOs) at municipal and public sector departments in South Africa.
 
The chief motivation for introducing the qualification, according to Professor Rashied Small, SAIPA’s Executive: Education, Training and Membership, is to raise the levels of financial management and control at town council level. “We have found that senior managers and chief financial officers, in many cases are either too focused on their management role, or on their role as accounting officers, without having the skills to combine the two so as to benefit their organisations,” he said.
 
The year-long qualification will instill financial skills and competencies in those working in municipalities who come from a management background, and it will look to give those whose background is in finance, the skills to manage processes and to think strategically.
 
Skills Swop
“Students should have either accounting/finance or public administration degrees as an entry requirement and the curriculum they follow will be shaped by which of the two fields they come from,” Small explains.
 
The course content is based on four pillars: policy development; economics; financial management; and reporting, Small explains. “The course will have a strong practical orientation. The content will be linked to the workplace and the assignments and evaluations will relate to real, on-the-job situations.”
 
The roll out of the qualification has been a national one and the idea is to run week-long blocks of theoretical teaching, followed by three week periods of application on-the-job, with assignments based on real-world issues.
 
“We will be sending the lecturers to the students rather than bringing the students to the Western Cape,” Small explains. “They will gather in central venues around the country for a week of lectures and then return to their municipal offices for three weeks of implementing what was learned.”
 
On completion of the course they will receive a Post-Graduate Diploma in Public Finance, but more importantly, they will qualify to write SAIPA’s professional examination and begin the process of obtaining the institute’s designation of Professional Accountant (SA), with a specialisation in public sector finance.
 
Professional Evaluation
“In 18 months’ time a professional designation will be required for any person to be appointed as a CFO in the public service,” Small said. “This qualification will help those who want to apply for those positions.”
 
The university will be the training provider, with SAIPA’s contribution being the access to its professional evaluation examination at the end. “Our members will also be involved in some of the teaching, and we will act as moderators for the evaluation processes,” Small added.
 
Applicants can contact the School of Government: Mr AD Roman - aroman@uwc.ac.za
 and it has also been marketed at municipalities around the country. Small warns, however, that the first class has been greatly over-subscribed. “We will be taking in 40 graduates in the second semester and we have over 400 applicants,” he said.
 
ENDS

MEDIA CONTACT: Idéle Prinsloo, 082 573 9219, idele@thatpoint.co.za, www.atthatpoint.co.za  
 
For more information on SAIPA please visit:
Website: www.saipa.co.za
Twitter: @SAIPAcomms
LinkedIn: South African institute of Professional Accountants Company
Facebook: South African Institute of Professional Accountants