The South African Institute of Professional Accountants (SAIPA), a leading professional accountancy organisation in South Africa, is proud to announce a transformative and groundbreaking initiative aimed at making the accountancy profession more accessible.
For the first time, SAIPA is offering 12 months of complimentary membership to candidates who successfully pass its rigorous Professional Evaluation (PE) assessment.
This move is a significant step toward breaking down financial barriers for new accountancy professionals and fostering their professional growth from the start of their careers. It further highlights the unwavering commitment from SAIPA to nurturing and empowering the next generation of professional accountants in the country.
Stronger results in June 2024
The professional accountancy organisation has seen an increase in the success rates of its Professional Evaluation initiative.
In the June 2024 PE, 328 candidates wrote the assessment, with 229 successfully passing - which translates into a 70% pass rate. This marks a rise in the pass rate for the programme from November 2023 PE, which resulted in a 63% success rate.
Passing the PE assessment is a critical milestone for candidates as it signifies that they meet SAIPA’s high standards of competency, ethics and professional competency.
On passing, these individuals will earn the prestigious Professional Accountant (SA) designation and gain access to SAIPA’s continuing professional development resources and other benefits, including professional indemnity insurance cover.
Project Achiever produces top candidates again
SAIPA’s Project Achiever Programme, funded generously by the Financial and Accounting Service Education and Training Authority (Fasset), has been a key driver behind these strong results and has continued to demonstrate its value in preparing aspiring accountants for the PE.
In June 2024, eight of the top 10 candidates were from Project Achiever, continuing a trend from November 2023 where seven of the top 10 also emerged from this programme.
The programme was originally created to provide previously disadvantaged individuals with greater access to the profession.
Project Achiever has evolved into a cornerstone of SAIPA’s efforts to increase diversity and inclusion in the accountancy field. Its success in consistently producing top-performing candidates underscores its effectiveness in levelling the playing field.
Breaking down barriers
SAIPA has recognised that the accountancy profession is a crucial driver of societal and economic change.
However, the journey to becoming a Professional Accountant (SA) does have its challenges, from early education through higher education and beyond.
The path generally involves obtaining a relevant academic qualification, completing a three-year learnership and passing SAIPA’s Professional Evaluation (PE) Assessment. However, financial constraints have historically limited access for many aspiring accountants.
Tia Van der Sandt, Acting Chief Executive, said: "At SAIPA, we are dedicated to making the accountancy profession more accessible and inclusive. By offering 12 months of complimentary membership to successful Professional Evaluation candidates, we are breaking down barriers that have historically limited opportunities for those from disadvantaged backgrounds.
“This initiative is designed to help new professionals focus on their growth and development during their critical first year, without the stress of financial burdens.”
A diverse accountancy future
As one of South Africa’s leading professional accountancy organisations, SAIPA has spent more than four decades actively helping to shape the country’s accountancy landscape.
The institute has adapted to the changing demands of the accountancy profession by incorporating business advisory services, taxation and technology into its offerings.
Despite the global decline in the number of accountants, SAIPA remains steadfast in its mission to close the gap by equipping its members with the skills necessary to meet today’s financial challenges.
Van der Sandt adds: “Our vision is to drive the necessary change, empowering Professional Accountants (SA) to meet the needs of South Africa and the broader African continent. We are committed to ensuring that these professionals are equipped with the expertise to add value in their roles and successfully navigate the demands of their diverse environments.”
For more information about this new initiative and the Project Achiever programme, visit www.saipa.co.za