Johannesburg, 23 October 2019 – The South African Institute of Chartered Accountants (SAICA) announced a new Board following a rigorous Governance Review of the Institute.
The SAICA Governance Review kicked off in July 2018 with the establishment of a Governance Review Task Team (GRTT) led by Roy Andersen CA(SA). The GRTT mandate included the review of SAICA’s governance structures and defining a more diversified and balanced Board inclusive of independent persons from outside the membership of SAICA, with the necessary skills and experience to provide strategic guidance.
Following the GRTT’s research into how similar bodies around the world are structured and consultations with SAICA members and stakeholders, the GRTT submitted their recommendation for a revised SAICA Constitution to the Board, which was subsequently approved by members at the Annual General Meeting held on 26 June 2019.
The revised Constitution requires that the SAICA Board comprises executive and non-executive members which will include non-Chartered Accountants. It also requires the Board to be representative, diverse and balanced with the necessary skills and experience to help provide strategic guidance.
SAICA therefore invited Chartered Accountants(SA) and non-Chartered Accountants to apply, or for individuals to nominate suitably qualified candidates, to serve on the SAICA Board as non-executive members.
Following a rigorous interview process as well as a member voting process at a Special General Meeting held on 23 October 2019, the following people were voted to be SAICA Board members with immediate effect:
- Mr Johan du Toit SC, LLM, Advocate of the High Court of South Africa, Acting Judge of the High Court of South Africa
- Ms Babalwa Bekwa, BCom Informatics, Head of Strategic and Systems Programme Office at Discovery Health Systems
- Ms Yasmin Forbes, MBA, Chartered Director [CD(SA)], Information Technology Executive and Business Consultant
- Ms Ilse Lubbe CA(SA), Associate Professor, College of Accounting, University of Cape Town, South Africa
- Mr Bonolo Ramokhele CA(SA), Partner in Charge at Differentia Chartered Accountants (Pty) Ltd
- Prof. Monica Singer CA(SA), CONSENSYS AG-South Africa Lead for Consensys
- Ms Tsakani Maluleke CA(SA), Deputy Auditor-General at the Auditor-General of South Africa
- Ms Patricia Stock CA(SA) and Registered Auditor, CEO at AKA Africa Group
- Ms Refilwe Matenche CA(SA), Founder and President of African Women’s Movement (AWM)
“There will be a transitional period where the current Board will provide handover support to the new Board to ensure continuity. The new Board Chairperson, the lead independent Board member, the chairpersons of committees as well as committee members will be determined by the Board at a later date. The member constituencies of SAICA will still enjoy a strong voice in the governance of the Institute through the Chairman of the Council also joining the newly appointed Board. We thank the outgoing Board for their significant effort and hard work over the past months and wish them well in their future endeavours. We trust the new Board will take their mandate to heart and will lead SAICA to new heights,” said Freeman Nomvalo, SAICA’s Chief Executive Officer.
The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The Institute provides a wide range of support services to more than 46 000 members and associates who are chartered accountants [CAs(SA)], as well as associate general accountants (AGAs(SA)) and accounting technicians (ATs(SA)), who hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in every sphere of commerce and industry, and who play a significant role in the nation’s highly dynamic business sector and economic development.
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