As a critical stakeholder in society, SAICA has undertaken the responsibility of ensuring that there is a consistent flow into the economy of adequately and suitably qualified accounting professionals who are representative of the country’s demographics. This is done via various skills development initiatives at primary, high school and tertiary education level.
To drive this process and ensure its proper governance, SAICA established the Thuthuka Education Upliftment Fund (TEUF) in 2002. Through TEUF, SAICA focuses on two strategic objectives:
- to grow the number of CAs(SA), and - to transform the demographics of the profession to match the country’s demographic profile.
Thuthuka is a Zulu verb meaning ‘to develop,’ and it reflects the action-based perspective with which transformation in the accounting profession is being driven.
The Thuthuka Education Upliftment Fund (TEUF) is a SAICA skills development implementation entity and is registered as a public benefit organisation in terms of section 18(A) of the Income Tax Act with its principal place of business at 17 Fricker Road, Illovo, Johannesburg, South Africa. A board of directors is responsible for the overall running and governance of TEUF.
The Thuthuka Bursary (TBF) operating under TEUF, states that its primary activity is assisting disadvantaged African and Coloured students to become chartered accountants (CAs[SA]).
Thuthuka’s value proposition is to sustain the future of the charteredaccountancy profession and transform its demographics by:
- advancing education; - empowering youth; and - sustaining the future of the CA(SA) profession