A new BEE Charter for the accounting profession is on its way after objections were raised to the CA Charter, which was an attempt to further entrench the monopoly on accounting privileges enjoyed by the SA Institute of Chartered Accountants.

SA Institute of Business Accountants (Saiba) has lodged its objections to the CA Charter, and you can read them here and here.

Other professional bodies lodged objections of their own on grounds largely similar to those of Saiba.

Saiba members will be pleased to learn that at a meeting of the BBBEE Unit and professional bodies that objected to the CA Charter, Saiba was requested to review the CA Charter with a view to formulating a charter that will address the entire professional accountancy sector.

Says Nicolaas van Wyk, CEO of the SA Institute of Business Accountants (Saiba): “Based on what we understood from the meeting the request was to only consider a charter for designated members of the professional bodies at this stage as to allow the work that has been done on the CA Charter to continue but with the inclusion of the designated members of other professional accounting organisations such as the Chartered Institute of Management Accountants (Cima), the Association of Chartered Certified Accountants (Acca) and Saiba. Read more Accounting Weekly.