South Africa: Ownership Challenge
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Business Day (Johannesburg)
COLUMN
6 August 2008
Posted to the web 6 August 2008
Johannesburg
AS CELEBRATIONS for National Women's Day approach, it is enlightening to see that SA's women are making inroads into the nation's chartered accountancy profession.
At the start of the millennium, women numbered no more than 2846 - a scant 20% of the total number of chartered accountants.
In the past eight years, the number of women chartered accountants has soared to 7071 out of a total of 27604 .
Also encouraging is the growing number of black women in the profession.
An empowerment charter was formed last year in a bid to transform the profession.
The 12-member Charter Council identified ownership in accountancy firms as one of the top challenges .
One thing the industry would like to achieve is an increase in the percentage of black people - particularly black women - in the ownership and management of firms.
Black professionals leave audit firms for positions in commerce for better pay. The target recommended for ownership control is 20%.
Firms should develop strategies to ensure more black professionals remain in accounting and auditing.
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The Bottom Line is Edited By Edward West
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