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
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:
- Licencing to members
- Career development
- Quality control and monitoring
- Enforcement of a code of
- Publications and events
- People focused
- Representative of member
- Support business growth
- Simplicity works
- Excellence in conduct and
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
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:
According to the SAIBA Constitution the affairs of the
Institute shall be managed by a Board consisting of:
- Directors hold office for a period of two
years and are elected from the various eligible categories of members
- eight (8) members elected from Honorary,
Practicing, Affiliate and Associate members of the Institute, and
- additional two (2) optional non-voting
members with observer status nominated by the:
- Association for the Advancement of Black
Accountants in South Africa
- Minister of Finance or Trade and Industry or
any other accredited institution or
- any person that the Board is of the opinion
that could benefit SAIBA
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,
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:
- Information Technology
- Membership Affairs
- Any other supporting committees.
The Institute shall, subject to the provisions of this
Constitution, apply its funds and income to promote the objectives of the
member / Company Secretary
member / Acting CEO