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January 24, 2013

Demand for CAs among JSE company boards increases

The uptake of high level roles in Johannesburg Stock Exchange (JSE) listedcompanies by Chartered Accountants (CA) has increased, a survey by the SouthAfrican Institute of Chartered Accountants (SAICA) has found.

SAICA said 30% of chief executive and 90% of finance director positions amongthese companies are now filled by CAs. The survey also found that 35% of the 2,215directorships of the 200 largest companies on the JSE were CAs, an increase of 3%since 2010.

The survey also found the proportion of financial directors that are CAs has alsoincreased 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 andthrive have turned to the advanced financial management skills of CAs(SA) to steerthem 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 strategicopportunity," Matlwa explained.

The World Economic Forum 2011/12 Global Competitiveness Index ranked SouthAfrica number one in the world for the strength of its auditing and financial reportingstandards.

Related linkSouth African Institute of Chartered Accountants

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