Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)
Chartered Accountancy Charter
Section D : Challenges
Assignment of Activities for Meeting the Challenges
16.5 Socio-Economic Responsibility
The aim is to develop initiatives that directly enable natural black persons with a means of generating income for themselves. The fundamental principle is to encourage initiatives that facilitate access to the economy by black people by making both socio-economic developments and industry specific contributions.
The industry specific contributions from the CA sector will focus on the provision of bursaries. SAICA, on its part, will create a platform that will enable small and medium size firms to participate in socio-economic development.
These activities need to be undertaken primarily by the CA sector, supported by SAICA.