Chartered accountants (CAs) play a critical role in organisations worldwide, often serving as CEOs, directors, senior managers, auditors, and financial controllers. Their responsibilities include managing finances, reporting on funds, and ensuring compliance with tax regulations. In South Africa, however, there’s a stark racial disparity within the field.
As of now, only 8,610 black chartered accountants are registered out of a total 51,152 CAs, making up just 17% of the profession. This figure stands in stark contrast to South Africa’s demographics, where 81% of the population is black.
A History of Inequality
The racial gap in chartered accountancy has deep roots in apartheid, a system that actively excluded black South Africans from professional fields. Black citizens were not allowed to qualify as CAs for most of apartheid’s reign, with the first black man becoming a CA in 1976 and the first black woman in 1987.
While the profession is now accessible to all, the structural inequalities of the past continue to affect black aspirants. From educational inequities to socio-economic barriers, these challenges limit the number of black individuals who can pursue and complete the demanding journey to become a CA.
Challenges for Black Aspirants
Access to Accredited Institutions
Becoming a CA requires an undergraduate degree from an institution accredited by the South African Institute of Chartered Accountants (SAICA). These institutions are mostly located in urban centres like Johannesburg, Cape Town, and Durban, making access difficult for students from rural and township areas.
High Failure Risks and Scholarship Pressures
Merit-based scholarships like the Thuthuka Bursary Fund help talented black students pursue their studies. However, these scholarships often come with strict conditions—failure, regardless of the reason, results in immediate withdrawal of funding.
One student shared how she lost her scholarship after failing a year due to the loss of her father and personal illness. She later funded her studies by working part-time and eventually qualified as a CA, showcasing resilience but also highlighting the rigid funding structures in place.
Educational Gaps
South Africa’s unequal schooling system leaves many black students unprepared for the challenges of tertiary education. Theoretical learning often excludes practical knowledge relevant to South African industries, making it harder for black students to connect with the material.
For instance, an aspirant described how unfamiliar examples in case studies, like those involving the airline industry, disadvantaged black students who lacked exposure to such environments.
Cultural Displacement
Even within universities, black students often feel marginalised. Many experience a lack of cultural representation in classrooms, where white lecturers and students dominate the discussions. This creates an atmosphere where black students feel like spectators rather than active participants.
The Role of Community Support
Despite these challenges, black CAs consistently credit their families and communities for supporting them through tough times. Academic success for many black students is tied closely to their community, yet universities and the accounting profession rarely acknowledge this vital connection.
Bridging the Gap
To address these disparities, systemic changes are needed:
- Inclusive Admissions: Universities should adjust admission requirements to account for the inequities in South Africa’s basic education system.
- Contextualised Curriculum: Course content should use examples that reflect diverse South African contexts to make learning relatable for all students.
- Corporate Collaboration: Universities and firms can partner to expose students to real-world business practices and environments.
- Support Services: Free mental health services and mentorship programmes tailored to the needs of black students could provide essential support.
Moving Forward
While the number of black chartered accountants in South Africa has grown, the racial disparity in the profession remains significant. Bridging this gap requires a multi-faceted approach that addresses both historical and contemporary barriers.
Through inclusive policies, contextualised education, and better support systems, South Africa can work towards a chartered accountancy field that reflects its population’s diversity and potential.
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