The aims for enterprise development in the CA sector, is firstly to focus on development of black-owned firms where the desired outcome would be an increase in the number of candidates that are trained in the smaller black firms, the number and size of audits that are conducted jointly and an increase in the number of black-owned firms.
The aim is secondly to increase black-owned enterprises that provide products and services to the sector and to increase the non-monetary support to small and medium enterprises as well as aspirant entrepreneurs.
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Current situation / challenges
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Recommended activities
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Black-owned firms
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Hampered by a lack of funding as well as time pressures |
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Lack of skills for expansion among some black-owned businesses |
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Smaller black firms experience significant challenges in attracting and retaining talent (both black and white) on the trainee and qualified professional levels, primarily due to perceived inadequate client base and resources for training |
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Insufficient medium size black firms, exacerbated by a lack of opportunities for smaller firms that would allow them to grow bigger |
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Rewards do not always pass proportionately to input where alliances are formed |
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To form a comprehensive, coordinated strategy for wealth creation and skills upgrading of black enterprises by the CA sector |
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To involve larger firms in the assistance with training needs of smaller firms so as to increase the level of skills in the profession and support smaller firms to train even greater numbers of CAs. |
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To develop a proportionate plan to businesses to facilitate and encourage the appointment of joint auditors |
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Black-owned enterprises that provide product and services to the sector
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Inadequate financial skills to effectively manage businesses |
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Lack of skills, money or knowledge to start a small business |
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To provide support (training, development and implementing financial systems) to existing black-owned SMMEs that provide products and services to the sector, so as to enhance their operational efficiencies and financial stability |
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To provide support (training, developing and implementing financial systems) to black entrepreneurs seeking to establish businesses that provide products and services to the sector |
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Medicines and Related Substances Act, 1965
