 Helping to grow the South African economy is the ultimate prize for winners of the annual Accounting Olympiad, a competition for high school learners hosted by the South African Institute of Professional Accountants (SAIPA).
Accounting is a basic need and vital element of every business as it records business growth and suggests future action based on analysis and experience. In order to qualify for a career in accountancy, pupils need to matriculate in maths and not switch to maths literacy. The aim of the National Accounting Olympiad is to make accounting as a subject more accessible to all students, and to introduce the option of professional accountancy as a career opportunity. “Given the scarcity of those who are qualified as a Professional Accountant (SA) and the importance of mathematics and accounting to the greater economy, we actively participate in producing future professional accounting leaders in the numbers required to build the economy and create jobs,” says Cindy Dibete, chairperson of SAIPA. “Learners who participated in the competition took an important decision about their own careers and enabling an economy desperately in need of job creation,” says Dibete. Participants in the competition are Grade 12 learners, who wish to follow a career in accountancy. Once identified for participation by their teachers, the learners compete against each other for eligibility and the top candidates from each school write the regional exam. The winners of each region then participate in a national exam, with six overall winners determined by the exam results. Winners in the public schools category (male): Winner: Jacobus Johannes Schoeman, Vredenburg Hoëskool, Western Cape, 100% Runner-up: Moeketsi Comfort Molale, Forte High School, Gauteng, 98% Tied winners in the public schools category (female): Ayanda Mabunda, E.P.P. Mhinga Secondary School, Limpopo, 100% Uviwe Mbombela, Queenstown Girls’ High School, Eastern Cape, 100% Winners in the private schools category: Winner (male): Roger Song, Reddam House Bedfordview, Gauteng, 94% Winner (female): Raadiyah Mohamed Patel, Maritzburg Muslim School for Girls, Kwa-Zulu Natal, 91% The national winners of the 2015 SAIPA Accounting Olympiad will be awarded their prizes at a gala function in Johannesburg on 1 October 2015. For photos from the award ceremony, please visit http://bit.ly/1JSxjbB ENDS MEDIA CONTACT: Cathlen Fourie, 012 644 2833, cathlen@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 SMEs can only fulfil their potential if they can expand—with expansion comes resilience. A key focus of government should be to find innovative ways of enabling small, medium or new businesses to access capital more easily. Studies have shown repeatedly that the inability to access capital is one of the key challenges facing all new businesses, and a major constraint for smaller businesses wanting to expand.
“Government has rightly identified SMEs as engines of growth and job creation. Resilience is important given the tough economic climate, and the opportunity to generate significant employment,” says Ettiene Retief, chairperson of the National Tax and SARS Stakeholders Committees at the South African Institute of Professional Accountants (SAIPA). “Giants that employ thousands of people, like Pick ‘n Pay, began as family stores—they only grow if they can fund that growth.” Cyril Ramaphosa recently noted that Government is currently investing heavily into the South African economy, and called for ideas from the business community. Retief says that it is very important for government to ensure that any investment is carefully structured to make the most impact on the economy. “Investment is good news, but we need to take a step back and ensure that we understand how to make this investment really work for the economy,” Retief says. “Just doing more of the same is not going to achieve the results the economy needs.” Retief cautions against excessive focus on traditional industries such as manufacturing. Attention must be also given to stimulating growth in the services and skills sectors, as they form an increasingly important part of modern economies. “My final point would be to ask that we also consider how to make these investments play a role in attracting foreign direct investment into South Africa. We need as much of this as possible in order to put the economy back on a growth trajectory. Thus, when we are working out how to make capital more accessible to smaller businesses, and which sectors to target, we should be thinking about supporting companies that will in turn make this country a more attractive prospect for international investors,” Retief concludes. ENDS MEDIA CONTACT: Cathlen Fourie, 012 644 2833, cathlen@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 |
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