Even more black CAs needed for growth

2013-03-04 00:00

WHILE a great deal more needs to be done to transform the accountancy profession, the latest statistics regarding the numbers of black professionals entering the profession are encouraging.

The Association for the Advancement of Black Accountants (Abasa) said 657 new black accounts have started working.

Statistics released by the SA Institute of Chartered Accountants (Saica) and the Independent Regularity Board for Auditors (Irba), showed that a 19% increase in the total number of black candidates who wrote the qualifying exam, compared with a seven percent increase in the previous year.

“Abasa has seen a considerable increase in the number of black candidates who sat for their exams last year.

“While this is a clear indication of the consistent progress in the transformation agenda we must work harder and continue to support the industry by further growing the number of qualified black candidates,” said Andile Khumalo, Abasa president

The results for the Qualifying Examination Part Two Financial Management, showed 98 new black accountants have qualified as Chartered Accountants while the Qualifying Examination Part Two Auditing Exams, produced 566 black Chartered Accountants.

Abasa said an impressive 53% of the newly qualified black Chartered Accountants (CAs) are women. Khumalo said this is a true testament of the potential of women conquering the industry.

Each year, Abasa conducts retrospective surveys to measure the contributions and efforts made in transforming the accounting profession.

In their 2011 Transformation Survey, one of the key findings was that official transformation structures were in place within the organisations, but did not effectively trickle down to business units.

Khumalo said transformation challenges were not only limited to increasing the number of qualified CAs, but in the opening up of CA opportunities within organisations, which he called “true transformation”. He said SA’s participation in the global economy required sound financial analysis, and considerable growth in Black-owned companies with qualified CAs. — WR.

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