The South African Institute of Chartered Accountants (SAICA) has sought to explain the Thuthuka Bursary Scheme following concerns that whites and Indians are excluded from the scheme.

The scheme seeks to assist black and coloured students to become Chartered Accountants.

SAICA Senior Executive for National Projects Robert Zwane says the criteria is not discriminatory but relates to the fact that the number of membership of Chartered Accountants only registers 14% of black South Africans and only 4% of coloured South Africans.

He says in contrast with the active economic population, these numbers are drastically low.

Zwane says, “We have to exist in the context of challenges experienced by South Africans. The broader transformation agenda is also something that is quite important for us as SAICA, within our CA numbers we still have challenges. Our numbers were not reflective of the demographics of SA or of the economically active members of SA.”

“Membership, we are sitting at 14% Africans, and that’s compared to an active population of 78% and then if you look at coloured we sitting at 4%,  if you look at Indians we are sitting at 12%, you look at white we sitting at 68%.”

SAICA responds to caller concerns with regards to Thuthuka Bursary Scheme:

SAICA accredited as professional body for Business Rescue Practitioners

The Companies and Intellectual Property Commission (CIPC) accredited the SAICA as a professional body for business rescue practitioners in terms of section 138 (1) of the Companies Act of 2008.

CIPC anticipated that there is going to be a huge demand for the services of Business Practitioners as companies grapple with the challenges that have been posed by the national lockdown.

Denga Ramuedzisi speaks on SAICA accreditation: