Table A1 Timeline of SA CA profession...

Table A1

Timeline of SA CA profession

Year	Milestone and key events
Colonial rule	Pre-1948, South Africa was under British colonial rule. After independence in 1948, the National Party assumed power, instituting the policy of apartheid (Samkin and Wingard, 2020). The development of accounting in the country is linked to the British colonial influence in response to the burgeoning mining economy (Verhoef, 2014). The expansion of the market witnessed a competitive dynamic among immigrant British accountants, who effectively secured market dominance by establishing local professional societies
1948	As the apartheid government emerged, racial segregation became formalised. African Blacks became the main target of the apartheid regime and forbidden from pursuing several professional opportunities including accounting due to laws that relegated them to the periphery of the land, education, healthcare, and employment opportunity (Hammond et al., 2009; Sian, 2007)
1976	By the early 1970s, it became evident that Black accountants were essential for the profession. Consequently, limited opportunities for Black participation in the field began to emerge. In 1976, Professor Wiseman Nkuhlu made history by becoming the first Black South African to qualify as a CA (Hammond et al., 2009; Sadler, 2002)
1980	The South African Institute of Chartered Accountants (SAICA) is established. This development stems from various political and legal movements negotiating the creation of a unified and formally recognised accounting profession Moving into the mid-1980s, a voluntary-quota system was adopted, leading to an increase in the recruitment of Black clerks for traineeships by auditing firms
1987	The first Black female CA, Nonkululeko Gobodo, qualified. She later founded South Africa’s largest black-owned accountancy firm: SizweNtsalubaGobodo^a
1994	The first democratically elected government is established, marking the formal abolition of racial segregation
1996	South African Constitution is finalised, and the Government introduces the Growth, Employment, and Redistribution initiative with Black Economic Empowerment forming a significant component. At this stage, BEE had a narrow focus on diluting ownership in majority white entities (Ntim and Soobaroyen, 2013) Also, the same year saw “Reynold Ngobese” achieved another important feat becoming the first Black male to achieve a place in the top ten of the qualifying examination (Sadler, 2002), further affirming the intellectual prowess of Black individuals to compete and excel in the South African accounting profession
1997	BEE is implemented and complemented by various legislations. However, its effectiveness in practice remains unsatisfactory as it primarily enriched a minority of Blacks (Iheduru, 2004; Ntim and Soobaroyen, 2013; Southall, 2004), leading to the re-envisioning of a broader impact initiative
2002	The Thuthuka Bursary Fund was established to enhance and expand opportunities for Black and Coloured students to pursue a career in the accountancy profession
2003	Broad-Based Black Economic Empowerment (B-BBEE) Strategy was published as a precursor to the B-BBEE Act, No. 53 of 2003
2007	B-BBEE Codes of Good Practice of 2007 were released to establish a framework for the effective implementation of B-BBEE. Additionally, Transformation Sector Charters (i.e. Sector Charters) were introduced, scrutinised, and analysed for compliance, in accordance with the provisions of either Section 9 or 12 of the B-BBEE Act, No. 53 of 2003
2011	The Chartered Accountancy Profession Sector Code is introduced^b
2013	B-BBEE Amendment Act, 2013 promulgated
2019	Latest draft revision of the Chartered Accountancy Sector Code is released for commentary

Year	Milestone and key events
Colonial rule	Pre-1948, South Africa was under British colonial rule. After independence in 1948, the National Party assumed power, instituting the policy of apartheid (Samkin and Wingard, 2020). The development of accounting in the country is linked to the British colonial influence in response to the burgeoning mining economy (Verhoef, 2014). The expansion of the market witnessed a competitive dynamic among immigrant British accountants, who effectively secured market dominance by establishing local professional societies
1948	As the apartheid government emerged, racial segregation became formalised. African Blacks became the main target of the apartheid regime and forbidden from pursuing several professional opportunities including accounting due to laws that relegated them to the periphery of the land, education, healthcare, and employment opportunity (Hammond et al., 2009; Sian, 2007)
1976	By the early 1970s, it became evident that Black accountants were essential for the profession. Consequently, limited opportunities for Black participation in the field began to emerge. In 1976, Professor Wiseman Nkuhlu made history by becoming the first Black South African to qualify as a CA (Hammond et al., 2009; Sadler, 2002)
1980	The South African Institute of Chartered Accountants (SAICA) is established. This development stems from various political and legal movements negotiating the creation of a unified and formally recognised accounting professionMoving into the mid-1980s, a voluntary-quota system was adopted, leading to an increase in the recruitment of Black clerks for traineeships by auditing firms
1987	The first Black female CA, Nonkululeko Gobodo, qualified. She later founded South Africa’s largest black-owned accountancy firm: SizweNtsalubaGobodo^a
1994	The first democratically elected government is established, marking the formal abolition of racial segregation
1996	South African Constitution is finalised, and the Government introduces the Growth, Employment, and Redistribution initiative with Black Economic Empowerment forming a significant component. At this stage, BEE had a narrow focus on diluting ownership in majority white entities (Ntim and Soobaroyen, 2013)Also, the same year saw “Reynold Ngobese” achieved another important feat becoming the first Black male to achieve a place in the top ten of the qualifying examination (Sadler, 2002), further affirming the intellectual prowess of Black individuals to compete and excel in the South African accounting profession
1997	BEE is implemented and complemented by various legislations. However, its effectiveness in practice remains unsatisfactory as it primarily enriched a minority of Blacks (Iheduru, 2004; Ntim and Soobaroyen, 2013; Southall, 2004), leading to the re-envisioning of a broader impact initiative
2002	The Thuthuka Bursary Fund was established to enhance and expand opportunities for Black and Coloured students to pursue a career in the accountancy profession
2003	Broad-Based Black Economic Empowerment (B-BBEE) Strategy was published as a precursor to the B-BBEE Act, No. 53 of 2003
2007	B-BBEE Codes of Good Practice of 2007 were released to establish a framework for the effective implementation of B-BBEE. Additionally, Transformation Sector Charters (i.e. Sector Charters) were introduced, scrutinised, and analysed for compliance, in accordance with the provisions of either Section 9 or 12 of the B-BBEE Act, No. 53 of 2003
2011	The Chartered Accountancy Profession Sector Code is introduced^b
2013	B-BBEE Amendment Act, 2013 promulgated
2019	Latest draft revision of the Chartered Accountancy Sector Code is released for commentary

Note(s): ^ahttps://www.accountancysa.org.za/cover-story-winning-women-nonkululeko-gobodo-casa/

^bThe code introduced per 9 (1) meaning it: (i) Becomes a Sector Code of Good Practice (Sector Code) and hares the same status as the B-BBEE Codes of Good Practice, published by the Minister of Trade, Industry, and Competition, in February 2007; and (ii) Is fully binding between and among businesses operating in the industry

Source(s): Authors’ own creation

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