Accountancy roles included in the draft Critical Skills List are general accountant, management accountant, tax professional, accountant in practice, financial accountant, forensic accountant, accounting officer, external auditor and internal auditor.<\/p>\n
Marisa Jacobs, managing director at Xpatweb agrees with the nominated roles. The company runs an annual Critical Skills Survey and was the only private sector organisation invited to present its findings to the various Departments compiling the draft Critical Skills List. \u201c8% of our respondents report difficulty in recruiting skills in the accountancy and finance fields,\u201d she said.<\/p>\n
Asked why there are not enough local accountants, Jacobs says the problem is relative: \u201cThere are definitely many qualified accountants in the country but demand outpaces supply.\u201d<\/p>\n
If this is true, why do many accountancy graduates struggle to find work? \u201cCompanies are unable to risk the integrity of their accountancy function on inexperienced candidates,\u201d said Jacobs.<\/p>\n
The role of professional bodies<\/strong><\/p>\n For foreign professionals to apply for a Critical Skills Visa, the Immigration Act requires that they meet certain requirements.<\/p>\n First, they must obtain a confirmation, in writing, from a professional body, council or board recognised by SAQA, or any relevant government Department confirming the skills or qualifications of the applicant and appropriate post qualification experience.<\/p>\n Second, if required by law, they need proof of application for a certificate of registration with a professional body, council or board recognised by SAQA in terms of the National Qualifications Framework Act.<\/p>\n Third, they must possess proof of evaluation of their foreign qualification by SAQA, which must be translated by a sworn translator into one of the official languages of the Republic.<\/p>\n Ngwenya says that SAIPA strives to ensure these accountants can move as quickly as possible into their new posts for the sake of economic growth. However, she insists that its standards for professional excellence and ethical conduct must be maintained throughout.<\/p>\n The Institute also has agreements with several international professional accountancy bodies to facilitate their members being able to work in South Africa under SAIPA\u2019s oversight.<\/p>\n However, foreign national accountants should never be recruited for the sole purpose of \u2018catching up on work\u2019. \u201cThere must be well-defined programmes to transfer skills and experience to South African professionals in a way that can be measured and verified,\u201d said Ngwenya.<\/p>\n Organisations also need to establish a strong succession process to identify suitable candidates who will assume key roles when the foreign accountants vacate their positions to return home.<\/p>\n Specialist recruitment firm Robert Walters recently published its annual salary survey for 2021, showing what professionals in the finance, banking, and accounting industry can expect to earn.<\/p>\n
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