Bridging the skills gap: Educating chartered secretaries Stephen Sadie CEO Chartered Secretaries Southern Africa 10 September 2009

Outline 1.Skills gap 2.Chartered accountants 3.Corporate governance failures 4.Our education process 5.Where we fit in 6.Our students 7.Our members

SKILLS GAP

Scarce skills in financial sector Accountants, auditors and company secretaries ICT managers HR and training managers Information and organisation professionals Business and systems analysts and programmers Accounting clerks and bookkeepers Fasset (2009: 51)

Financial service professionals by race (%) Van Zyl (2008: 375) African Coloured77784 Indian White Other

Role of professional bodies Professional bodies play a key role in the preparation of new entrants the establishment of educational standards, the development of curricula for the qualifications they award, the provision of training, the accreditation of training institutions, the setting of and administration of examinations, the awarding of qualifications.

Professional bodyAcronymMembership Association of Accounting TechniciansAAT1 017 Association for the Advancement of Black Accountants of SAABASA2 500 Association of Chartered Certified AccountantsACCA1 800 Chartered Institute of Management AccountantsCIMA4 300 Chartered Secretaries Southern AfricaICSA2 600 South African Institute of Professional AccountantsSAIPA7 500 South African Institute of Tax PractitionersSAIT1 500 Institute of Administration and CommerceIAC Institute of Internal Auditors of South AfricaIIA-SA5 000 Institute of Public Finance AccountantsIPFA400 South African Institute of Chartered AccountantsSAICA Fasset (2009; 9)

CHARTERED ACCOUNTANTS

Immigration and emigration of accountants and related professionals Van Zyl (2008: 382)

Racial profile of chartered accountants, 2004 Van Zyl (2008: 380)

Gender profile of people who majored in accounting at university (%) Female Male Total100 Van Zyl (2008: 381)

No of people who majored in accounting Qualification First degree Postgraduate diploma or honour’s degree Master’s degree Doctoral degree4515 Total Van Zyl (2008:376)

CORPORATE GOVERNANCE FAILURES

Corporate governance failures SABCSAATransnet Tannen baum LeisureNet

Company secretaries King III – “The board should be assisted by a competent, suitably qualified company secretary” Companies Act – “knowledgeable or experienced in relevant laws” “Brave new era for company secretaries” - Mervyn King Advise the board Company secretaries should be chartered secretaries

OUR LEARNING PROCESS

Action learning cycle learning action learning action learning action

Lifelong learning Contact vs distance Ethics Accountability Disciplinary process

WHERE WE FIT IN

Accrediting bodies Qualifications Authority Council on Higher Education (CHE) – universities, technikons and private higher education SAQA UMALUSI – schools and further education colleges NATIONAL QUALIFICATIONS FRAMEWORK (NQF) 10 levels (ABET to Doctorate) Quality Council on Trades and Occupations (QCTO) – trades, occupations and professions SETAs FASSET Chartered Secretaries Southern Africa (NQF Level 7)

Fasset model of quality assurance Unique quality assurance model Quality Assurance Partners (QAP) Quality Assurance functions are devolved to professional bodies QAP status granted to Chartered Secretaries Southern Africa in March –Responsible for accrediting training providers offering its qualifications

Status of our qualifications Professional body QAP 6 qualifications Registered on the NQF IBS (NQF3 and 4) CIS (NQF5 (x 2) and 6) Board (NQF7)

OUR STUDENTS

Board students by gender and race

CIS students by gender and race

Board students

CIS students

IBS students

OUR MEMBERS

CPD 2009 Minutes and Resolutions (New Companies Act) Olasesi Martins Induction of Board MembersRisenga Maruma The Duties of Directors (New Companies Act) Bethuel Ngwenya The Compliance FunctionBart Henderson Business Rescue (New Companies Act) Jan van der Walt

CPD 2009 The Company Secretary and King III Carina Wessels The Consumer Protection ActNeville Melville The Role and Functions of CIPRO Rory Voller Get your Money SoonerRoger Knowles Finance for the Non-Financial Manager Grant Vernon Applied Corporate Governance: Governance in Motion Bethuel Ngwenya

CPD 2008 EthicsProf Rossouw Assessor TrainingJacqui Baumgardt Meetings, Minutes and AgendasOlasesi Martins Governance for Non-executive Directors Jonathan Lewis Risk ManagementCraig Rosewarne

CPD 2008 New Companies’ ActCarl Stein Practical Risk ManagementPat Mahony Board Evaluations for Company Secretaries Pat Mahony ExcelProf John Shochot Board and Committee ChartersPat Mahony Company Secretarial Practice and Corporate Laws Joel Wolpert

PPG members by industry type

PPG members by race

CIBM Member by type

References Fasset (2009), Fasset Sector Skills Plan 2005 to August [online] Available (accessed 5 September, 2009) Van Zyl, E (2008), Financial Services Professions. In: Kraak, A. and Press, K. (Eds.) Human Resources Development Review. ( ). Pretoria: HSRC Press.

ANY QUESTIONS? Stephen Sadie CEO (MBA, M. Ed) Chartered Secretaries Southern Africa