Business Accountants (SABA) are trusted professionals. They assist and engage people and organisations to shape their future.
The future of business is subject to constant change, both locally and globally. As a voluntary, recognised and national professional body for SABA’s, with more than 1500 members and associates, the Southern African Institute for Business Accountants (SAIBA) will focus on assisting our members with identifying opportunities for growth within a complex business and legal environment.
The training of Business Accountants in Southern Africa dates back to 1961. During 1967, Universities of Technology (previously known as Technikons) initiated the National Diploma in Cost and Management Accounting. Despite all this, Business Accountants in Southern Africa could not find a home in a truly Southern African professional body until 1987.
In August 1985 a group of Business Accountants, Academics and Businessmen met to discuss the possible establishment of a Southern African professional body for Business Accountants. At the meeting a committee was appointed to draw up a draft constitution. The draft constitution was completed during August 1987, and at a meeting held on 14 October 1987 the constitution was accepted and the Southern African Institute for Management Accountants was officially established.
The main consideration of the founders was to establish a truly Southern African professional body for Management Accountants: "OUT OF SOUTHERN AFRICA FOR SOUTHERN AFRICA”. An appropriate academic qualification and relevant practical experience are the only criteria for admission of members.
Since the official establishment of the Southern African Institute of Management Accountants the membership had grown at a steady pace. Members represented the full spectrum of the economy and were not limited to certain sectors of the economy.
In its strive to be dynamic and relevant for the conditions of the regions, the Council of the Institute decided in 1990 to re-assess the appropriateness of the term Management Accountant. Against the background of continuous developments in the accounting field as well as demanding challenges that the accounting profession faced, the Council decided that the term Management Accountant was no longer descriptive of what is required of the profession. On 13 October 1990 the name of the Institute was changed to The South African Institute of Business Accountants (SAIBA). The Institute is registered as an association incorporated under section 21 of the South African Companies Act 1973, with registration number 1990/005364/08.
At the Annual General Meeting in 1990, members requested the Board to apply for accreditation to the applicable authorities allowing members to act as Accounting Officers in terms of the Close Corporation Act, 1984.
After a number of discussions with and presentations made to the applicable authorities, accreditation was granted on 7 July 1996. Accreditation was also granted to the Institute in terms of the Namibian Close Corporations Act, 1988, on 13 June 2006.
With the enactment of the Companies Act, 71 of 2008 SAIBA practicing members may accept the appointment as an independent reviewer and perform independent review engagements,
In 2010 SAIBA signed an MOU with the South
African Institute of Tax Practitioners (SAIT). This allow qualifying SAIBA
members to accept appointments as tax practitioners.
A professional body that supports members in growing the profession and their careers.
We support members by adopting and implementing international standards related to ethics, quality, education, financial reporting, and assurance and other engagements, and by enabling the sharing knowledge and understanding of all areas affecting accountants and financial professionals. In a practical sense we offer:
Our Core Values
SAIBA is a NPC and as a membership organisation, there is no clearly defined ownership structure, SAIBA is technically owned by its active members at any given time. As membership changes on an on-going basis, the ‘ownership’ structure is not a set structure. SAIBA members have voting rights at the SAIBA Annual General Meeting (AGM) where the Board is elected. SAIBA is run by a Board of members elected from the membership at the AGM. According to the SAIBA Articles of Association:
Members wishing to serve on the Board must be proposed and seconded by members on the prescribed form and in the manner decided by the Institute. The Board shall elect from among its members a: President/Chairperson, Vice-president/Vice-Chairperson, Secretary The Board shall meet at least four times per year. A small full-time staff under the direction of the Chief Executive is responsible for the day-to-day administration of SAIBA. The Board shall appoint the following committees:
The Institute shall, subject to the provisions of this Constitution, apply its funds and income to promote the objectives of the Institute.
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