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Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Industry Charters

Chartered Accountancy Charter

Section A: Background

5. Objectives

 

The overall objective of this Sector Code is to promote economic growth and transformation to enable meaningful participation of black people so as to increase equitable income distribution and bring about equal opportunities. In real terms, and given that our profession is that of Chartered Accountancy, this objective should find expression in the achievement of CA membership and sector composition that reflects the demographics of our country. To this end, the Charter has the following objectives:

 

CA profession

• The achievement of a meaningful change in racial and gender composition as well as throughput pass percentages of persons studying towards a CTA or equivalent at accredited higher education institutions, so that ultimately the membership of the CA profession will reflect the demographics of South Africa.
• Bringing about a meaningful change in both the racial and gender composition of persons on accountancy learnerships, so that ultimately the CA membership composition will reflect the demographics of the country.
• Supporting the development and upliftment of rural and local communities through wealth creation, by means of skills development (of school learners and educators as well as black businesses) on the one hand and socio-economic development projects on the other, thereby increasing equitable income distribution and equal opportunities for all.

 

CA sector

• Bringing about a meaningful change in the racial and gender composition of ownership and management structures within the CA sector so as to reflect the demographics of the country.
• Achieving meaningful change in the racial and gender composition of all persons employed in the sector, including the granting of bursaries to black students and learners on learnerships, by means of skills development programmes, so that ultimately the composition of the CA sector will reflect the demographics of South Africa.
• Promoting and using preferential procurement policies that will provide emerging black enterprises, and especially those in the CA sector, with opportunities to expand their output so as to attain sustainable development
• Supporting the development and upliftment of local and rural communities through socioeconomic development projects, thereby increasing equitable income distribution and equal opportunities for all.