3 minute read
CEO's Note
by kwedamedia
In 1993, Leeser brothers, Christian and Achim, bought the nearly bankrupt FRABA (Fabrik elect. Apparate GmbH), a medium-sized, family-owned German company that specialises in industrial automation.
In their efforts to turn around FRABA, the brothers introduced a “total information, dynamic development and fair sharing” leadership model. This phenomenal story teaches us that leadership may mean many things to many people, but leadership is about people.
It is about vision, achievements, growth, development, sacrifices and making tough decisions. In fact, leadership is about creating a movement that is courageous enough to attract others and show them how to join the movement.
Thirty-five years ago, during the month of July, a group of professionals came together and established a movement, that movement was called the Southern African Institute of Government Auditors. It was a professional association within the office of the Auditor-General, and many then were courageous enough to follow the mission and pursue the idea at the time.
SAIGA! As we celebrate 35 years of this Institute’s existence, we need to highlight the role that visionary leadership has played in the establishment of the institution. It was great leadership that saw FRABA transformed to be a great firm with operations on three continents.
The founders of SAIGA had the vision to develop accountancy professionals who would specialise in public-sector auditing and finance. In this issue, we look back at the history of SAIGA through the perspective of two of its founding leaders, Prof Dieter Gloeck and Prof Herman de Jager.
As we celebrate our 35th anniversary, the two professors chronicle the events that shaped SAIGA into the professional body it is today, sharing their personal experiences, including the renaissance of SAIGA.
Our president, Phillip Rakgwale, talks about his journey with the Institute, and his achievements in the last four years and shares his vision as he begins his second term at the helm, following his re-election.
In the articles, we learn about talent management in the audit profession, the revised quality control element ISA 220, and about transparency and accountability through citizen-centric.
There is also a fascinating perspective on the mandatory audit firm rotation, in light of the court overturning a provision by SA's audit industry group requiring listed and public interest entities to rotate their auditors.
On the political front, we learn about the looming spectre of a coalition government and what that means for South Africa’s governance, as explained by former Sunday Times editor and columnist Peter Bruce.
The bumper edition also includes articles about the Public Finance Audit Performance, the perspectives on Reserve Bank monetary policy as well as how the developing world continues to be excluded from decision-making, from the Department of International Relations and Cooperation perspective.
You don’t want to miss out on the view of ASB about improving disclosures on going concern, and lastly why councillors must be held personally accountable for the cholera health crisis.
It was great leadership that brought SAIGA into our world, and it will be equally outstanding leadership that will carry the Institute over the next 35 years and beyond.
Enjoy reading this issue.
