VALUE CREATION

OUR STRATEGY, PERFORMANCE AND IMPACT

Stakeholder Engagement and Value Creation

Stakeholder engagement is integral to SAICA’s activities, supporting both our advocacy efforts and the partnerships critical to delivering projects and strategic initiatives. Our objective is to maintain strong relationships with key stakeholders to create a collaborative, value-driven environment.

Engaging with a broad range of stakeholders enables SAICA to understand their needs and interests, ensuring appropriate responses that support community transformation, upliftment, and sustainable societal development. Effective stakeholder engagement translates these needs into organisational goals, laying a foundation for successful strategy execution. SAICA’s stakeholders are categorised into strategic dependencies − those essential for implementing our strategy − and strategic benefactors, who benefit from its success. Stakeholder needs and interests are also vital inputs into the materiality determination process, as well as the identification of risks and opportunities.

Key stakeholders are determined based on SAICA’s material matters, relevance both locally and internationally, technical competence, reputation, financial sustainability, and service to the public interest, alongside how well expectations have been met. In 2024, over 2 000 stakeholders participated in a survey to evaluate their overall satisfaction with SAICA’s participation, contribution, and influence. The stakeholder satisfaction score remained steady at 72%, consistent with 2023 results. Notable score declines were observed among specific stakeholder groups. SAICA is investigating the root causes and will implement targeted initiatives to address these challenges.

Stakeholders, Interests and Engagement Channels

Refer to the SAICA webpage for details on all of our stakeholders where we demonstrate our commitment, engagement and the quality of our relationships with key stakeholders through the value we have delivered.

Stakeholder Engagement Governance and Oversight

SAICA’s stakeholder engagement strategy, plan and stakeholder management policy guide interactions with stakeholders. Significant engagements are captured in an organisational stakeholder engagement tracking document and reported quarterly to the CEO and SETCO. A stakeholder management policy is in place and approved by SETCO and the SAICA Board.

Stakeholder Engagements in 2024

Key themes that were topics of discussion for engagements during 2024 include:

Consultation on SAICA strategy 2024−2028

Concerns on SARS regulation of tax profession

ISSB sustainability reporting

Fraud and corruption prevention

Audit reform and audit quality

Reputation management and disciplinary updates

Capacitating and professionalising the public sector

Engagements with partner organisations and potential partners

Ethics

The state of the economy and current challenges in South Africa

Economic development initiatives to grow the South African economy

Establishment of the Centre for Audit Quality (CAQ)

Suitability of the ISA for LCE standard in South Africa

AI and digital competencies

Mental health

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Local and International Forums and Bodies