The uptake of high level roles in Johannesburg Stock Exchange (JSE) listed
companies by Chartered Accountants (CA) has increased, a survey by the South
African Institute of Chartered Accountants (SAICA) has found.
SAICA said 30% of chief executive and 90% of finance director positions among
these companies are now filled by CAs. The survey also found that 35% of the 2,215
directorships of the 200 largest companies on the JSE were CAs, an increase of 3%
The survey also found the proportion of financial directors that are CAs has also
increased significantly from 78% in 2010 to its current 89.6%.
More than half of the 108 JSE directorships held by under 40 year olds are CAs(SA),
compared to the next most popular designation, the MBA, which made up 12%.
SAICA chief executive Mastobane Matlwa said "companies trying to survive and
thrive have turned to the advanced financial management skills of CAs(SA) to steer
them through the toughest economic times of our generation".
"Business leadership in troubled times is not just about controls, tax or ratios –
though these are important – it is about a grasping and managing risks and strategic
opportunity," Matlwa explained.
The World Economic Forum 2011/12 Global Competitiveness Index ranked South
Africa number one in the world for the strength of its auditing and financial reporting
South African Institute of Chartered Accountants