<!DOCTYPE html>
<html>
<head>
<title></title>
</head>
<body style="margin: 0; padding: 0">
<style type="text/css">
a:hover {
text-decoration: none; color: #1abc9c;
}
a:visited {
text-decoration: none; color: #1abc9c;
}
img {
border-color: #fff;
}
</style>
<table style="background: #e5e5e5; border-collapse: collapse; border: none; padding: 0; width: 100%" bgcolor="#E5E5E5">
<tbody>
<tr>
<td></td>
<td style="width: 650px">
<table align="center" bgcolor="#FFFFFF" border="0" cellpadding="0" cellspacing="0" width="650">
<tbody>
<tr>
<td align="center" bgcolor="#E5E5E5" height="30" valign="top">
<table align="right" border="0" cellpadding="0" cellspacing="0" style="background: #e5e5e5; float: right; width: 100%" width="650" bgcolor="#E5E5E5">
<tbody>
<tr>
<td colspan="6" style="height: 20px"></td>
</tr>
<tr>
<td colspan="6" style="height: 20px"></td>
</tr>
</tbody>
</table>
</td>
</tr>
<tr>
<td style="padding-bottom: 10px; padding-top: 25px; text-align: center" align="center"><img alt="" height="55" src="https://cdn21.mailercdn.net/users/assets/2466/images/New_SAICA_Headers/1saica-entity-logo-header-strap.jpg" style=
"border: #fff; height: 55px; width: 600px" width="600"></td>
</tr>
<tr bgcolor="#FFFFFF">
<td colspan="6" style="color: #707070; font-family: Arial, Tahoma, sans-serif; font-size: 11px; font-weight: bold; line-height: 15px; text-align: center" align="center">
<p><span style="font-weight: 400">To help ensure inbox delivery please add <a href="mailto:saicanewsletters@saicanews.co.za" rel="noopener" style="color: #00aeef; text-decoration: none" target="_blank">saicanewsletters@saicanews.co.za</a> to your
safe sender list</span></p>
</td>
</tr>
<tr style="height: 49px">
<td style="height: 49px; padding-top: 20px; text-align: center; width: 702.067px" align="center"><img alt="" height="141" src="https://cdn21.mailercdn.net/users/assets/2466/images/New_SAICA_Headers/new-board-digest-header-banner.jpg" style=
"border: #fff; height: 141px; width: 600px" width="600"></td>
</tr>
<tr>
<td bgcolor="" style="padding-bottom: 10px; padding-top: 10px; text-align: center" align="center"></td>
</tr>
<tr>
<td>
<table align="center" bgcolor="" border="0" cellpadding="7" cellspacing="0" style="color: #6e6e70; font-family: Arial, Helvetica, sans-serif; font-size: 14px" width="600">
<tbody>
<tr>
<td bgcolor=""><strong>Dear&nbsp;Peet</strong></td>
<td bgcolor="" style="text-align: right" align="right"><strong>&nbsp; &nbsp; Membership no</strong>.:&nbsp;03240972</td>
</tr>
<tr>
<td bgcolor="" colspan="2">
<div style="text-align: justify" align="justify">The SAICA Board met on 15 April and 29 April to deal with the following matters:</div>
<ol>
<li style="text-align: justify"><strong>Consider matters for AGM;</strong></li>
<li style="text-align: justify"><strong>Consider matters for Board Approval; and</strong></li>
<li style="text-align: justify"><strong>Consider the CEO Quarterly Report.</strong>​</li>
</ol>
<ol>
<li style="text-align: justify">​<strong>&nbsp;AGM matters</strong><br>
The following matters considered by the Board will be presented to SAICA members and associates for consideration and approval at the Annual General Meeting (AGM), scheduled on 31 May 2024:&nbsp;<br>
​
<ul>
<li><strong>Proposed Amendments to the Reward and Remuneration Policy:</strong><br>
<br>
This proposal seeks to amend paragraphs 3 and 4. The Board considered and approved the recommendation made by HR and RemCo and the proposal will be presented at the AGM. Specifically, the amendments aim to:<br>
&nbsp;
<ul>
<li>Provide for external moderation of the executive team by HR RemCo</li>
<li>Provide the Board with a provision to modify the organisational score after considering any substantial matters impacting the organisational performance.<br>
&nbsp;</li>
<li>Adjust individual and divisional qualifying criteria from a score of a 3 to a 3.5 In Policy Statement 15 and Annexure 3, paragraphs 3 and 4.<br>
&nbsp;</li>
<li>Should the employee be the subject of a disciplinary process for that performance cycle, the STI will be placed on hold pending the outcome of the disciplinary process. The STI will be paid if the employee is found not guilty, but this will be
forfeited if the employee is found guilty. STI Eligibility Criteria, paragraph 9, page 11.<br>
&nbsp;</li>
<li>Clarification of the STI qualification criteria when SAICA, Divisional and Individual score is at least a 3 but below 3.5. STI Eligibility Criteria, paragraph 10, page 11.<br>
&nbsp;</li>
</ul>
</li>
<li><strong>Proposed Candidates for Board Appointment:</strong><br>
<br>
The Board discussed and considered the proposed candidates for appointment following the expected Board Rotation at the upcoming AGM and approved the following candidates:<br>
&nbsp;
<ul>
<li>For the two vacancies to appoint a CA(SA) Board member: Mr Vincent Motholo, Mr Suleman Badat, Ms Brenda Tsvetu, and Mr Zakariya Hoosain.</li>
<li>For the one vacancy to appoint a non-CA Board member: Ms Babalwa Bekwa, Ms Deshni Subbiah, and Mr Collen Weapond.<br>
&nbsp;</li>
</ul>
</li>
<li><strong>Appointment of External Auditors</strong>:<br>
The Board discussed and considered the reappointment of Mazars for the ensuing year.<br>
<br>
&nbsp;</li>
</ul>
</li>
<li><strong>Board Approvals:</strong><br>
&nbsp;
<ul>
<li>The SAICA Strategy and budget for 2024 to 2028.</li>
<li>The SAICA 2024 Balanced Scorecard aligned with the strategy adopted. &nbsp;</li>
<li>SAICA 2023 Annual Financial Statements&nbsp;</li>
<li>SAICA 2023 Annual Integrated Report (IR)&nbsp;</li>
<li>SAICA Reserves and Investment Policy.</li>
<li>SAICA Employee Salary Increase and Bonus Payments.</li>
<li>Directors and Officers Liability Insurance for 2024.</li>
<li>The Board and Committee Fee at no increase.<br>
&nbsp;</li>
<li><strong>Resolutions previously adopted by the Board</strong><br>
<br>
The following resolutions were confirmed:<br>
&nbsp;
<ul>
<li>The rescheduled Annual General Meeting (AGM) date of 31 May 2024 due to the national elections taking place on the originally scheduled date of 29 May 2024.<br>
&nbsp;</li>
<li>The co-opted Board Members to the Education and Assessment Committee to ensure continuity of the committee with the rotation of the Council President. And the Nomination and Governance Committee, taking into account the Board rotation process
and to mitigate any conflict of interest.<br>
&nbsp;</li>
<li>SAICA’s Objections to the South African Revenue Services Recognised Controlling Bodies (RCB) Criteria Changes.<br>
&nbsp;</li>
</ul>
</li>
</ul>
</li>
<li><strong>CEO Quarterly Report</strong><br>
The CEO extended her gratitude for the support received from the dedicated team across the organisation, as well as from Council and the Board, especially in the formulation and finalisation of the 2024 – 2028 strategy.<br>
<br>
The following matters from the CEO Quarterly report should be noted:<br>
&nbsp;
<ul>
<li><strong>2023 Performance Overview</strong> -&nbsp;SAICA remained committed in delivering value for its members and society by advancing strategic initiatives while ensuring financial sustainability.<br>
&nbsp;</li>
<li>The Member Value strategic pillar PHI score, and the Relevance and Reputation strategic pillar PHI score both improved and the Trust index of CAs(SA) in South Africa increased to 84% (FY22: 83%). This is attributable to the implementation of
SAICA’s integrated communication and reputation management plan. SAICA’s B-BBEE level further improved from a Level 4 to a Level 2, which can be attributed to the continued strong focus on skills development. The employee engagement score, improved
from 78% to 84%, which demonstrates that SAICA employees are well-engaged.<br>
&nbsp;</li>
<li><strong>Membership, Membership Relevance, and Brand Value</strong> -&nbsp;A key highlight was the CA(SA) designation achieving the number one most trusted CA designation in the world according to Edelman DxI research done with Chartered
Accountants Worldwide.<br>
&nbsp;
<ul>
<li>The Member and Associates numbers: CA(SA) members are 52 656, AGA(SA) members are 4 675 and AT(SA) members are 440.<br>
&nbsp;</li>
<li>Delegates and events noted the following:<br>
&nbsp;
<ul>
<li>SMP support: A key focus for the year under review was enhancing SMME support and showcasing Small and Medium Practices (SMPs) expertise to SMMEs. Focused effort also took place within the Practices portfolio to engage directly with SMPs, to
understand their challenges and needs, which will be prioritised during FY2024.<br>
&nbsp;</li>
<li>Public sector: The inaugural Public Sector Summit was another highlight, providing a platform for facilitated discussions, knowledge sharing, and collaborations aimed at fostering transformation within the public sector. Strengthening the
collaboration agreement between SAICA and the Chartered Institute of Government Finance Audit and Risk Officers (CIGFARO) further enhances the profession’s impact in the public sector.<br>
&nbsp;</li>
</ul>
</li>
</ul>
</li>
<li><strong>Environmental, Social and Governance report:</strong><br>
&nbsp;
<ul>
<li>SAICA published its 6th United Nations Sustainable Development Goals Report.&nbsp;<br>
&nbsp;</li>
<li>Thuthuka noted a total of 2 749 Thuthuka beneficiaries passed, funding for 1 143 students raised, 244 Thuthuka students passed their PGDA, 200 Thuthuka PGDA students were allocated to Thuthuka Donor Training Offices for CA(SA) training
contracts, and Thuthuka ITC pass 94% compared to the National ITC pass rate 75%.<br>
&nbsp;</li>
<li>Maths development noted over 200 maths teachers enrolled for the Educator Development Programme, funding from FASSET for maths development came to R8.67m, and SAICA received sponsorship for SA Maths Foundation Olympiad.<br>
&nbsp;</li>
<li>The independent governance review was completed for the year ended 2023, which highlighted areas of improvement. However, the overall outcome of the IoDSA governance review and the Governance Review Task Team phase 2 were satisfactory, although
with some areas of improvement.<br>
&nbsp;</li>
</ul>
</li>
<li><strong>Streamlining of the disciplinary processes:</strong><br>
&nbsp;
<ul>
<li>To improve disciplinary case conclusion rates and enhance cost-effectiveness to boost responsiveness and accountability, SAICA will review the By-laws and the Constitution.<br>
&nbsp;</li>
<li>The disciplinary code was amended to improve case load management and capacitation of the disciplinary unit was implemented. The main challenge regarding the resolution of tax practitioner cases was with tax practitioners expressing
dissatisfaction over the prolonged duration of disciplinary processes.&nbsp;<br>
&nbsp;</li>
</ul>
</li>
<li><strong>SAICA's strategic direction for FY2024 to FY2028 is guided by four interconnected pillars:</strong><br>
&nbsp;
<ul>
<li><strong>Accelerated Member Value</strong> - The strategy centres on providing exceptional value to our members, adapting to their evolving needs. SAICA aims to offer tangible benefits that support career advancement, including continuous
professional development opportunities, access to cutting-edge research, and networking platforms. By investing in digital platforms, we will ensure seamless access to resources, enabling our members to engage with us and each other, anytime and
anywhere.<br>
&nbsp;</li>
<li><strong>Attractiveness and Transformation of the Profession</strong> - To secure the future of the profession, SAICA aims to promote its attractiveness to aspiring accountants and strive to retain existing members. This involves partnerships
with educational institutions, targeted marketing campaigns, and a transformation plan addressing challenges like the low APC pass rate. The strategy includes showcasing the diverse career paths within accountancy and emphasising the significant
role accountants play in business and society. Additionally, the implementation of the transformation plan will follow a "cradle to career" approach, investing in making a difference in both basic and higher education spheres to ensure a robust
pipeline of future professionals. We aim to inspire a new generation to join and ensure that all aspiring Chartered Accountants, regardless of background, can thrive.<br>
&nbsp;</li>
<li><strong>Economic and Social Relevance</strong> - The accountancy profession must remain at the forefront of addressing pressing economic and social issues, from climate change to financial transparency. Our strategy involves advocating for the
profession's role in these areas, engaging in public discourse, and influencing policy development. By equipping our members with the skills and knowledge to tackle these challenges, we not only enhance their value to employers and clients but also
reinforce the profession's relevance in today's world as an ethical profession.&nbsp;<br>
&nbsp;</li>
<li><strong>Winning Organisation</strong> - To achieve our objectives, SAICA commits to being forward-thinking, agile, and resilient. This includes investing in our people, processes, and technology, fostering a culture of continuous improvement,
innovation, and collaboration. SAICA will review and adapt our organisational structure and operational models to ensure they are fit for the opportunities and challenges ahead and set the standard for the profession and provide a solid foundation
for achieving our strategic objectives.</li>
</ul>
</li>
</ul>
</li>
</ol>
</td>
</tr>
<tr>
<td bgcolor="" colspan="2">
<div style="text-align: justify" align="justify">The strategy is designed to navigate the current landscape while laying a strong foundation for the future. By focusing on delivering accelerated member value, enhancing the profession's
attractiveness, ensuring economic and social relevance, and building a winning organisation, we secure the ongoing vitality and impact of the accountancy profession. You can view the strategy&nbsp;<a href=
"https://saica.evlink21.net/servlet/link/55771/593550/116172398/2070008" style=
"color: #1abc9c; text-decoration: none"><strong>here</strong></a>.<br>
<br>
SAICA will continue to follow a stakeholder-inclusive process to socialise the strategy with our various stakeholders. The strategy team, together with the Brand and Marketing division will be driving an exciting plan to bring the strategy to life
in a manner that resonates with all our Difference Makers.<br>
<br>
Members and associates are invited to attend the upcoming AGM scheduled for Friday, 31 May 2024. The AGM will be held virtually and in-person and provides an opportunity for members to engage with the elected Board members and management. Supporting
documents for the AGM can be found on the <strong><a href=
"https://saica.evlink21.net/servlet/link/55771/593550/116172398/2070009" style=
"color: #1abc9c; text-decoration: none">website</a></strong>. We look forward to seeing you there.<br>
<br>
Regards<br>
<br>
Vincent Mohau Motholo<br>
Chairperson: SAICA Board</div>
&nbsp;&nbsp;</td>
</tr>
<tr>
<td bgcolor="" colspan="2">
<hr></td>
</tr>
</tbody>
</table>
</td>
</tr>
<!--start of ending -->
<tr>
<td bgcolor="#FFFFFF" colspan="2" style="text-align: center" align="center">
<table border="0" cellpadding="0" cellspacing="0" style="width: 600px">
<tbody>
<tr>
<td width="200"></td>
<td width="40"></td>
<td width="40"></td>
<td align="center" width="40"></td>
<td align="center" width="40"></td>
<td align="center" width="40"></td>
<td width="200"></td>
</tr>
<tr>
<td width="200"></td>
<td width="40"><a href="https://saica.evlink21.net/servlet/link/55771/593550/116172398/2070010" style=
"color: #1abc9c; text-decoration: none"><img alt="" height="40" src="https://cdn21.mailercdn.net/users/assets/2466/images/SAICA_Social_Media_Icons/facebook.jpg" style="border: #fff; height: 40px; width: 30px" width="30"></a></td>
<td width="40"><a href="https://saica.evlink21.net/servlet/link/55771/593550/116172398/2070011" style=
"color: #1abc9c; text-decoration: none"><img alt="" height="40" src="https://cdn21.mailercdn.net/users/assets/2466/images/SAICA_Social_Media_Icons/twitter.jpg" style="border: #fff; height: 40px; width: 39px" width="39"></a></td>
<td align="center" width="40"><a href="https://saica.evlink21.net/servlet/link/55771/593550/116172398/2070012" style=
"color: #1abc9c; text-decoration: none"><img alt="" height="40" src="https://cdn21.mailercdn.net/users/assets/2466/images/SAICA_Social_Media_Icons/youtube.jpg" style="border: #fff; height: 40px; width: 48px" width="48"></a></td>
<td align="center" width="40"><a href="https://saica.evlink21.net/servlet/link/55771/593550/116172398/2070013" style=
"color: #1abc9c; text-decoration: none"><img alt="" height="40" src="https://cdn21.mailercdn.net/users/assets/2466/images/SAICA_Social_Media_Icons/linkedin.jpg" style="border: #fff; height: 40px; width: 37px" width="37"></a></td>
<td align="center" width="40"><a href="https://saica.evlink21.net/servlet/link/55771/593550/116172398/2070014" style=
"color: #1abc9c; text-decoration: none"><img alt="" height="40" src="https://cdn21.mailercdn.net/users/assets/2466/images/SAICA_Social_Media_Icons/instagram.jpg" style="border: #fff; height: 40px; width: 35px" width="35"></a></td>
<td width="200"></td>
</tr>
<tr>
<td width="200"></td>
<td width="40"></td>
<td width="40"></td>
<td align="center" width="40"></td>
<td align="center" width="40"></td>
<td align="center" width="40"></td>
<td width="200"></td>
</tr>
</tbody>
</table>
</td>
</tr>
<tr>
<td bgcolor="" colspan="2"></td>
</tr>
<!--end of ending --><!--start of banner -->
<tr>
<td colspan="2" style="height: 16px; width: 605.219px">
<table align="center" bgcolor="#E5E5E5" border="0" cellpadding="7" cellspacing="0" style="color: #6e6e70; font-family: Arial, Helvetica, sans-serif; font-size: 12px" width="600">
<tbody>
<tr>
<td colspan="3"></td>
<td colspan="2" style="text-align: right" width="243" align="right"></td>
</tr>
<tr valign="top">
<td colspan="3" rowspan="1">SAICA - The South African Institute of Chartered Accountants<br>
Copyright © <a href="https://saica.evlink21.net/servlet/link/55771/593550/116172398/2070015" style=
"color: #1abc9c; text-decoration: none"><span style="color: #6e6e70">saica.org.za</span></a>. Unauthorized use of the material is prohibited</td>
<td colspan="2" style="text-align: right" width="243" align="right">You are receiving this email because you are a SAICA member/associate</td>
</tr>
<tr bgcolor="#E5E5E5" valign="top">
<td align="center" width="95"><a href="https://saica.evlink21.net/servlet/link/55771/593550/116172398/2070016" style=
"color: #1abc9c; text-decoration: none"><img alt="" height="60" src="https://cdn21.mailercdn.net/users/assets/2466/images/4call.png" style="border: #fff; height: 60px; width: 56px" width="56"></a></td>
<td align="center" width="92"><a href="mailto:saica@saica.co.za" style="color: #1abc9c; text-decoration: none"><img alt="" height="61" src="https://cdn21.mailercdn.net/users/assets/2466/images/15email.png" style=
"border: #fff; height: 61px; width: 59px" width="59"></a></td>
<td align="center" width="114"><a href="https://saica.evlink21.net/servlet/link/55771/593550/116172398/2070017"
style="color: #1abc9c; text-decoration: none"><img alt="" height="57" src="https://cdn21.mailercdn.net/users/assets/2466/images/3member.png" style="border: #fff; height: 57px; width: 78px" width="78"></a></td>
<td colspan="2" style="text-align: right" align="right"></td>
</tr>
<tr bgcolor="#E5E5E5" valign="top">
<td style="text-align: center" align="center"><strong>Call Us</strong></td>
<td style="text-align: center" align="center"><strong>Email Us</strong></td>
<td style="text-align: center" align="center"><strong>Member Portal</strong></td>
<td colspan="2" rowspan="1" style="text-align: right" align="right"><a href="mailto:saica@saica.co.za?subject=Board%20digest" style="color: #1abc9c; text-decoration: none"><span style="color: #00aeef">Unsubscribe</span></a></td>
</tr>
<tr bgcolor="#FFFFFF">
<td style="text-align: center" align="center"></td>
<td style="text-align: center" align="center"></td>
<td style="text-align: center" align="center"></td>
<td colspan="2" style="text-align: right" align="right"></td>
</tr>
</tbody>
</table>
</td>
</tr>
<!--end of banner --></tbody>
</table>
</td>
<td></td>
</tr>
</tbody>
</table>
<img src="https://live21.evread.net/s/r/55771/593550/116172398/21.gif?m=WCPgVmRgbahnHHHh&amp;h=1a0f66e6048929c8ddd0709be26b8ec5" alt="" height="1" width="1" style=
"border: #fff; display: block">
</body>
</html>
