OVERVIEW
INTRODUCTION AND ABOUT OUR REPORT
Introduction
Our integrated report offers a balanced and accurate reflection of how we create, preserve, and, where applicable, address value erosion through the lens of our strategy, performance, risks, opportunities, and trade-offs. It focuses on material financial, economic, social, and governance matters, demonstrating our impact on the six capitals while providing stakeholders with a transparent and holistic view of our operations and outcomes over the short, medium, and long term.
In this report, we reflect on our journey over the past year, highlighting key aspects of our strategy, performance, opportunities, and future outlook. We remain steadfast in our commitment to value creation and preservation, working to mitigate risks to long-term sustainability while fostering positive contributions to our members, stakeholders, and society.
Guided by integrated thinking, we incorporate environmental, social, and governance (ESG) considerations into our decision-making processes and operational activities. This forward-looking report captures both financial and non-financial performance, offering insights into our strategy, governance, risks, opportunities, and targets.
Our Report Theme
'Reimagine. Renew. ReCAlibrate.'
At SAICA, we embrace the dynamic interplay of reimagining possibilities, renewing our commitments, and recalibrating our trajectory to lead with trust, innovation, and sustainable impact. In a world of constant change, recalibration is our compass — but it’s powered by the courage to reimagine outdated systems and the resolve to renew our purpose.
Reimagine: We challenge conventions, leveraging emerging technologies and fresh perspectives to redefine what’s possible for the profession.
Renew: We revitalise our strategies, processes, and cultural fabric, embedding sustainability and agility into every action.
ReCAlibrate: We continuously fine-tune our goals, operations, and collaborations to stay aligned with our vision and the market’s pulse.
This threefold approach unfolds across four dimensions:
Strategic Recalibration: Reimagine longterm goals and KPIs and Renew our market positioning to lead in a digital-first era.
Operational Recalibration: Reimagine workflows with AI-driven tools and Renew resource allocation to maximise efficiency and ethical impact.
Cultural Recalibration: Reimagine norms to foster inclusivity and Renew behaviours that amplify trust and collective purpose.
Team Recalibration: Reimagine roles for cross-functional agility and Renew collaboration dynamics to unlock innovation.
Like a master musician tuning an instrument while composing a new melody, SAICA harmonises recalibration with bold reimagination and purposeful renewal. This isn’t just adjustment – it is evolution in action. By resetting systems, realigning priorities, and reigniting our mission, we empower members to thrive in complexity, drive sustainable value, and cement SAICA as the benchmark for transformative leadership.
ReCAlibrate. Reimagine. Renew. Together, we will not just keep pace with change – we will rewrite the rhythm of how we engage.
Reporting Boundary
This integrated report provides an overview of SAICA and its controlled entities’ (collectively referred to as the Institute) for the year ended 31 December 2024. It is designed to address the information needs of SAICA members and broader stakeholders.
On 31 December 2024, the SAICA Group comprised SAICA, the Thuthuka Education Upliftment Fund (TEUF) and The Hope Factory Group (THF) (comprising The Hope Factory and its 100%-owned subsidiary, SAICA Enterprise Development).
The reporting boundary includes these entities as well as those risks, opportunities and outcomes associated with entities or key stakeholders outside of the financial reporting structure that have a significant and direct effect on the ability of the SAICA Group to create value.
SAICA has embedded integrated thinking into its strategy, activities, decision-making processes and internal reporting to ensure that its short-, medium- and long-term impacts are considered. Management’s reports to the Board include the effects on and trade-offs between the six capitals the Institute uses or affects. Our business model shows how SAICA creates value for stakeholders, as well as the capital inputs and outcomes arising from this process and the most material trade-offs during the year.
Our Approach to Value Creation, Preservation and Erosion
SAICA’s six capitals − financial, human, manufactured, intellectual, social and relationship, and natural − are central to our ability to create long-term value. This report reflects our structure, activities, and performance in relation to these capitals, illustrating how they evolve over time through strategy execution.
Inputs
The form and availability of each capital act as critical resources that support our strategy and operations.
Value-Adding Activities
These are the actions and strategies we undertake to convert the inputs into value, creating tangible benefits for our stakeholders and society.
Outputs and Outcomes
The results of our activities, which reflect how the use of our capitals impacts both internal performance and external society.
Value Creation
SAICA creates value by fostering a respected, ethical, and connected community of professionals who make a positive societal impact.
Value Preservation
The Board sets the strategic direction and ensures continuous oversight of risks, opportunities, and resource allocation, promoting good governance, a strong organisational culture, and transparent stakeholder engagement.
Value Erosion
Through its risk management process, the Board ensures that risks to value creation are carefully managed within defined parameters, aligning strategic objectives with effective controls and mitigation efforts.
Basis of Preparation
This integrated report is prepared in accordance with the Integrated Reporting Framework (January 2021), the King IV™ Report on Governance, and the Companies Act (2008, as amended). The terms ‘short term’, ‘medium term,’ and ‘long term’ refer to the coming financial year, up to 2026, and from 2027 onwards, respectively.
The report highlights SAICA’s most material matters, providing stakeholders with insight into factors impacting value creation. These matters are informed by:
A review of SAICA’s external and internal environments
(see ‘Operating context’ and ‘Key challenges’)
An assessment of critical issues discussed at Board and executive meetings
(see CEO report and Board committee reports)
A review of risks and opportunities (see ‘Risks and opportunities’)
Consultation with members, the Management Council, and the Board for input
In Summary, our Materiality Determination Process is as Follows:
Identify
Identify matters by scanning the internal and external environment
Prioritise
Prioritise matters and formulate the strategic risks and opportunity register
Define
Define strategic response to leverage opportunities and address associated risks
Forward-Looking Statements and Outlook
This report contains forward-looking statements regarding SAICA’s financial position, results, operations, and strategic direction. These statements, which depend on future events and circumstances, inherently involve risks and uncertainties. Actual results may differ materially from those expressed or implied, due to various factors and developments.
Please note that no forward-looking statements have been reviewed or assured by the Institute’s auditors.
Throughout this report, we provide insights into our outlook, detailing the challenges, opportunities, and disruptive factors that could influence the achievement of our strategic objectives. We also outline our mitigating responses and the opportunities we aim to leverage. These forward-looking considerations offer a comprehensive view of SAICA’s strategic direction and adaptive strategies.
Integrated Reporting Process and Assurance
The preparation and presentation of this report are governed by the Board and led by the Executive Committee, with responsibility delegated to a dedicated team of integrated reporting contributors. The 2024 integrated report incorporates insights from a wide range of sources, including Board meeting minutes, interviews, workshops, and both financial and non-financial reporting.
To enhance the reporting process, a quarterly strategic integrated performance report was introduced during the year. This report evaluates SAICA’s progress against its strategic objectives, offering a detailed view of the strategic pillars, including:
- Progress on strategic initiatives toward achieving objectives
- Challenges encountered, along with SAICA’s mitigation strategies
- Ongoing risks, controls, governance matters, and stakeholder engagements
Report drafts undergo a rigorous review process led by the Executive Committee before being recommended for approval by the Audit and Risk Committee and final sign-off by the Board. The Board ensures the integrity of the integrated report, supported by the Audit and Risk Committee, which oversees assurances provided by the Executive Committee, Internal Audit, External Audit, and independent service providers.
The alignment of this integrated report with the Integrated Reporting Framework was independently reviewed by Forvis Mazars, SAICA’s external auditors, who provided comprehensive assurance on the performance information used to evaluate progress against SAICA’s strategic objectives. Their assurance report, accessible [here], offers detailed insights into the assurance provided, ensuring transparency and accountability.
Integrated Thinking
Integrated thinking broadens our perspective, positioning SAICA as part of a larger ecosystem where the impact of decisions goes beyond immediate financial outcomes.
SAICA embodies integrated thinking through:
- Strong stakeholder relationships and inclusivity in strategic decision-making
- Robust risk mitigation processes and governance structures
- Ongoing communication and a focus on caring for our people and diverse set of stakeholders
This approach enables us to embed sustainable value creation and preservation into our strategy, activities, and decision-making processes. Integrated reporting becomes a natural extension, offering stakeholders a clear, cohesive account of our performance and impact.
The business model illustrates how SAICA creates value for stakeholders, detailing the capital inputs, outcomes, and key trade-offs during the year.
Approval by the Board
The Board acknowledges its responsibility for the integrity of this report and has implemented processes to ensure its credibility. These include:
- Adequate controls and diverse input to ensure accurate and complete information
- Defined responsibilities for data gathering, expert review, assurance, and oversight by committees, guided by the CEO
- Board oversight in approving the preparation process, materiality determination, report boundaries, and final content
The Board is satisfied that this report aligns with the Integrated Reporting Framework and approved it on 23 April 2025.
ReCAlibrate
The Recalibration of force and vision turns a lump of clay into a work of art. This is where precision meets passion.
A pottery wheel calibrates rotational speed to match the artist’s touch, while hands align pressure and angle to shape symmetry. The calibrated spin avoids wobble; while the movements creates form and shape. This kind of calibration controls chaos.