Abstract
The purpose of this paper is to conduct an analysis of the chartered accountancy profession sector charter with other sector charters. This is to ascertain if the chartered accountancy profession charter is a workable strategy to address economic transformation within the accountancy profession in South Africa. Desktop research method was used for this paper. Content analysis was used to analyze the chartered accountancy profession’s charters with the aim to ascertain if it is a workable strategy when compared with other sector charters to address the limitation of growth of black people in the chartered accountancy profession. The analysis of the selected sector charters shows that the chartered accountancy sector is committed to economic empowerment in South Africa. This sector has, however, set aggressive targets on employment equity and skills development when compared with the financial and construction sectors. This analysis and comparison is useful in guiding the stakeholders within the accountancy profession in their vision to accelerate the transformation process within the profession. Furthermore, it is hoped that this paper will stimulate substantive discussions around economic transformation strategy designed by government and business to redress economic inequality in South Africa. Keywords: broad-based black economic empowerment, charters, chartered accountancy, sectors, South Africa. JEL Classification: J24, J71
Highlights
Since the new political order in 1994, South Africa has experienced political change, and transformation within the economic and, the business arena
When the BroadBased Black Economic Empowerment (BEE) came into effect in 2003, a number of sectors had already started working on drafting their industry charters
This paper reported on research that aimed to determine whether the chartered accountancy profession charter is capable of driving the transformation process, thereby empowering Black people in South Africa
Summary
Since the new political order in 1994, South Africa has experienced political change, and transformation within the economic and, the business arena. Some of these notable changes within the business sector include affirmative action and altered ownership structure of businesses. There is currently the Broad-Based Black Economic Empowerment Amendment Act of 2013. This Act includes policy interventions such as employment preference, skills development, ownership, management, socio-
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