South Africa needed more black accountants, President Thabo Mbeki told the South African Institute of Chartered Accountants (Saica) on Wednesday evening.
Speaking at a dinner marking its 25th anniversary, Mbeki said he was pleased that Saica, the Association for the Advancement of Black Accountants of Southern Africa (Abasa) and the Public Accountants and Auditors Board had set up a bursary fund to help the formerly disadvantaged enter the profession.
However, he was disappointed that a separate Abasa fund had only raised R2,3-million from the private sector.
The scheme, called the Nkuhlu Subvention Fund, aims to increase the standard of accountancy in those institutions that attract mainly black students.
”I think we will agree that we should mobilise more resources to support this initiative,” Mbeki said.
”I believe that your initiatives truly reflect the inspiring spirit of the new South Africans who are driven by a new patriotism and are therefore ready to join hands to contribute to the reconstruction and development of our country,” he added.
Mbeki briefly referred to the Auditing Profession Bill, noting the government is currently finalising it as well as a review on corporate law.
”This is an attempt to have a dispensation that enhances the independence of the auditors and seeks further to ensure that auditors are held accountable for their conduct.
”I urge that we should engage in this process, so that we emerge with a legislative framework that embraces all our views,” Mbeki said. — Sapa