Southern African Institute for Business Accountants

Saiba_logo.jpg

The Southern African Institute for Business Accountants (SAIBA) is a professional association providing individuals with a tertiary qualification in accounting or finance with a license to practice and accounting officers and independent reviewers.

The current CEO is Nicolaas van Wyk.

The organization was founded in 1987 under the name "Southern African Institute for Management Accountants".

Management of SAIBA - Board of Directors and Executive Committee

Professor Dovhani Thakhathi (President), Stiaan Klue (Vice President), Martin Lemmer (Board Member), Steven Corrigan (Board Member), and Nicolaas van Wyk (Chief Executive Officer)

Responsibility for the overall management of the organisation

   Approval of the organisation’s long term objectives and strategy
   Approval of the annual operating and capital expenditure budgets and any material changes to them.
   Oversight of the organisation’s operations ensuring:
   Review of performance in the light of the organisation’s strategy, objectives, business plans and budgets and ensuring that any necessary corrective action is taken.
   Extension of the organisation’s activities into new business or geographic areas within Southern Africa

What SAIBA does

SAIBA supports its members by adopting and implementing international standards relating to ethics, quality, education, financial reporting, assurance and other engagements. SAIBA enables the sharing of knowledge and assists members in understanding all areas affecting accountants and financial professionals.

In a practical sense SAIBA offers:

   A range of professional designations
   Practicing licensing for independent review engagements
   Career development
   Quality control and monitoring
   Enforcement of a code of conduct
   Networking
   Publications and events
   Limited technical support
   Member offers and discounts
   An online community

SAIBA strategy

Three key words describe the SAIBA strategy:

Affordable. Attainable. Accessible.

SAIBA believes in an open access model to the accounting profession. This principle is reflected in their logo. The logo includes four circles. The circles indicate their commitment to diversity, openness, being community driven, and being inclusive.

SAIBA membership is therefore open to anybody with an accounting and financial background. However members are actively supported and encouraged to obtain a relevant SAIBA designation.

Membership and Qualification

SAIBA membership is available to anyone who is required to perform an accounting or financial function. Whether you are a manufacturer or distributor, in marketing or sales, running your own accounting practice or employed as a bookkeeper, debtors clerk, creditors clerk, finance controller, accountant, financial manager, management accountant, CFO or MD, you can join SAIBA.

International Involvement

Coming soon

History

SAIBA was officially established on 14 October 1987. SAIBA members were granted accounting officer status on 7 July 1996. Accreditation was also granted to the Institute in terms of the Namibian Close Corporations Act, 1988, on 13 June 2006. SAIBA members may also issue independent review reports for Companies and Close Corporations.

The Institute is registered as a Non Profit Company (NPC) under the South African Companies Act, 71 of 2008. SAIBA members that has obtain the right to use a SAIBA designation have voting rights at the SAIBA Annual General Meeting (AGM) where the Board is elected. Candidates for Board membership are nominated by a Nominations committee.

A small full-time staff under the direction of the Chief Executive is responsible for the day-today administration of SAIBA. SAIBA is a proudly southern African institute and subscribes to the values enshrined in the South African Constitution and Bill of Rights. We are a professional body that serves the needs of all persons living in Southern Africa and recognise and acknowledge that the imbalances of the past need to be corrected.

Designations

Awarding designations enables SAIBA to:

   Establish a strong accountancy profession which is an asset to the business community and to society
   Ensure the competency and quality of SAIBA members
   Enforce a code of conduct and adherence to international standards

Statutory recognition

SAIBA members that has obtained the designation "Business Accountant in Practice" are recognised as accounting officers and/or independent reviewers in terms of the following statutes:

   Close Corporations Act 1984
   Companies Act 2008
   Sectional Titles Act 1986
   South African Schools Act 1996
   Non Profit Organisations Act 1997
   National Credit Act 2005

Ensuring quality

The SAIBA Member Handbook provides for a Constitution, By-laws, and a Code of Conduct to govern the Institute and member behaviour. This includes comprehensive investigation and disciplinary procedures

   SAIBA adopted governance principles of King 3
   SAIBA adopted the IFAC standards on quality, assurance and other engagements, education and others
   SAIBA designations are based on the accreditation of University degrees and the recognition of relevant practical experience
   SAIBA sets mandatory requirements for its members with regards to Continuing Professional Education (CPE)

Representing members

SAIBA represents members in the following ways:

   CIPC Stakeholder Meetings
   Submissions on government policy changes or legislative amendments affecting the profession
   Interaction with SME representative organisations
   Observing Pan African Federation of Accountants deliberations
   Comment papers related to IFAC developments