KWA-ZULU NATAL BRANCH

MINUTES OF THE KWA-ZULU NATAL BRANCH’S 62nd ANNUAL GENERAL MEETING HELD ON WEDNESDAY THE 1 MARCH 2014 AT THE RIVERSIDE HOTEL, 10 NKENNETH KAUNDA ROAD DURBAN NORTH AT 07h30. Attendees: Branch committee members, CIMA members and students as per attendance register taken. Also in attendance: CIMA South Africa Country Manager: Zahra Cassim Apologies: No apologies were noted 1. Opening and welcome The agenda for the AGM was circulated by CIMA South Africa at least three weeks before the AGM by email to all members and students. The chairman, Taher Jhavary opened the meeting by welcoming and thanking everyone present at the meeting for their attendance. He also asked for agenda items that were not covered in the previous minutes, or elsewhere on the agenda. 2. Apologies As stated above 3. Confirmation of minutes of the previous meeting The minutes of the 2013 AGM were taken as read and accepted as an accurate reflection of matters discussed at the meeting. Mover : Alan Townsend Seconded : Karen O’Reilly 4. Matters arising not covered elsewhere on the agenda None were raised.

KZN AGM

12/03/2014

Role of the Local Branch

• To provide a local organisation for persons who are

Members and registered students of the Institute for the

purposes of encouraging the dissemination of knowledge

and the exchange of information and ideas in respect of

matters relating to or connected with Management

Accountancy and with the affairs of the Institute

• To hold conferences, meetings, seminars and discussions

either alone or jointly with other branches or with other

bodies

• To establish and maintain contact with local organisations

such as kindred societies, bodies representing industry,

government agencies etc.

Role of the Local Branch

• To interest Members in the welfare of registered students

and where appropriate, provide a students’ society in

accordance with the Institutes rules.

• To provide a sub-branch or centre, in accordance with the

Institutes rules to meet the needs of Members and registered

students in any outlying districts.

Branch Committee

• Taher Jhavary – Branch Chairman

• Marlin Moorthi – Secretary/Branch Champion

• Musa Shabane - Ex-Officio committee member

• Lushentha Naidoo - Member services officer

• Khaya Mbonyana - Deputy Member services officer

• Graham Smith - Student services and communication officer

• Pravika Sookraj- Deputy Student services and

communication officer

• Thiris Arumugam – CSR officer

• Gabisile Ndwandwe – Projects (Acting Student officer)

Branch Activities/ Events in

2013

• 2 CPD / Members events

Event 1: Work Ethics (June 2013)

– This event was organised by Lushentha Naidoo and Khaya

Mbonyana.

– There were +/- 32 attendees.

Event 2: Legal Knowledge for Business Success (Sep 2013)

– Organised by Lushentha Naidoo and Marlin Moorthi

– This seminar was presented by Eugene Botha, Sirdar Business

Expeditions’ legal associate and was an insightful look into

South Africa’s complex and ever-changing legal landscape.

– There were +/- 30 attendees.

5. Report by the branch president, Taher Jhavary (ACMA, CGMA)

Student Event 1 (Student Tour of Olive Convention Centre)

Sep 2013 : •This event was organised by Pravika Sookraj & Gabisile Ndwandwe

•There were +/- 30 attendees.

CSR event / Year End Event – CIMA Giving Back to the communityKZN year-end and CSR event was held in December, where we donated

R10 000 to the Food Bank, which really made a difference to the them.

www.foodbank.org.za

Branch Activities/ Events in 2013Student Event 2: (My CIMA event at Howard College, UKZN) Oct ‘13

•This event was organised by Gabisile Ndwandwe

•There were +/- 50 attendees.

Comments from attendees :•We received positive response from the audience , such as “ I feel

Motivated”. “Inspired”, “I am not going to give up “. “This has been a Life

changing experience”. Further to this they made notes from insight received,

which they are going to apply in market and in the exam.

CPD / Members Event 1 : Work Ethics by Cynthia Schoeman

(June 2013)•This event was organised by Lushentha Naidoo and Khaya Mbonyana.

•There were +/- 32 attendees.

CPD/ Members Event 2 :Legal Issues for Successful Bus (Sep ‘13)•Organised by Lushentha Naidoo and Marlin Moorthi

• This seminar was presented by Eugene Botha, Sirdar Business

Expeditions’ legal associate and was an insightful look into South Africa’s

complex and ever-changing legal landscape.

•There were +/- 30 attendees.

.

Branch Activities/ Events in

2013

• 2 Student Events

Event 1(Student Tour of Olive Convention Centre) Sep

2013 :

– This event was organised by Pravika Sookraj & Gabisile

Ndwandwe

– There were +/- 30 attendees

Event 2: (My CIMA event at Howard College, UKZN) Oct

2013

– This event was organised by Gabisile Ndwandwe

– There were +/- 50 attendees.

Branch Events Planned for 2014

Student Events:

• Thurs, 24th April

• Thurs, 24th July

Member Events:

CPD /Member events (open to students):

• CPD 1 – Early May

• CPD 2 – Thurs, 26 June

• CPD 3 – Thurs, 18 Sep

Branch Events Planned for 2014

Newsletters:

• 3 KZN Newsletters

CSR:

• Thurs,13 November

Year-end dinner:

• Fri, 12 December

• KZN Newsletters - 3 Newsletters have been distributed, 1 every 4 months, by Pravika Sookraj

• ABF (Africa Branch Forum) Meetings

- Attended 3 meetings throughout the year, and KZN was asked to chaired

last ABF meeting.

• MOU with SAICA

- Work in progress

• Olive Convention Centre is the new CIMA exam venue for KZN - Moved from DUT

Branch Activities/ Events in 2013

Regional Report

KwaZulu Natal Branch Zahra CassimHead of South Africa

March 2014

GLOBAL POSITIONING

6. Country Manager’s report by Zahra Cassim

Africa/ 3% Americas/ 3%

Emerging/ 1%

Europe/ 80%

MESANA/ 4%

North Asia/ 1%

SE Asia/ 8%

Global % spread of members YE 2013

African Branch Forum

African Branch Forum

South Africa

E C

ape

Gaute

ng

KZ

N

W C

ape

Southern Africa

Bo

tsw

ana

Zam

bia

Zim

babw

e

East Africa

Ke

nya

Mala

wi

Mauritiu

s

W Africa

Ghana

Global % spread of students YE 2013

Africa/ 14%

Americas/ 1%

Emerging/ 8%

Europe/ 47%

MESANA/ 20%

North Asia/ 4%

SE Asia/ 6%

Governance structure

Council

Global Markets Committee

Africa Regional Board

Branch reps

4 from Africa Branch Forum

Elected

3 elected by membership

Co-opted

Max one third

Ex Officio

Council members, Chair , Past Chair and Reg Director

GOVERNANCE AND STAFFING

Africa region population

6884 71817731

82599078

10163

11939

13937

17614

20868

4752 49875525

60396775

7736

9257

11494

14706

17689

1736 1813 1876 1922 1939 2079 2236 24432908 3179

0

2500

5000

7500

10000

12500

15000

17500

20000

22500

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Total Students Members

South Africa – historical stats

1256

2550

3806

1751

7170

8921

1926

9327

11253

0

2000

4000

6000

8000

10000

12000

Members Students Total

2006 2007 2008 2009 2010 2011 2012 2013

Members

78%

17%

4%

1%

SAICA

SAIPA

CIMA

ACCA

Students

42%

7%

36%

15%SAICA

SAIPA

CIMA

ACCA

Market share

MEMBERSHIP STATISTICS

39%

7%

2%

24%

1%

27%

New students 2013

11%

30%

1%

44%

3%11%

New students 2005

Transformation – South Africa

39%

11%

3%

29%

2%17%

Total Students 2013

Black Indian

Coloured White

Other Unknown

Gauteng – historical stats

783

1791

2661

935

3468

4403

996

5059

6055

1173

6784

7957

0

1000

2000

3000

4000

5000

6000

7000

8000

9000

Member Student Total

2006 2007 2008 2009 2010 2011 2012 2013

Western Cape branch – historical stats

248371

660

321

1064

1385

418

1269

1687

0

200

400

600

800

1000

1200

1400

1600

1800

Member Student Total

2006 2007 2008 2009 2010 2011 2012 2013

KZN branch - historical stats

186

349

548

227

733

960

241

896

1137

0

200

400

600

800

1000

1200

198 294 512

2007 2008 2009 2010 2011 2012 2013

Eastern Cape branch – historical stats

36

94

134

41

190

231

52

216

268

0

50

100

150

200

250

300

Member Student Total

2006 2007 2008 2009 2010 2011 2012 2013

THE YEAR PAST

High satisfaction in Africa

21

Q: Overall, how satisfied are you with CIMA as your membership body? (Base: members 2,210; students 4,867)

Ireland

Members - 80% +2pp

Students – 69% +4pp

UK

Members – 72% -7pp

Students –71% -9pp

Russia

Members – 57%

Students – 79% -2pp

Poland

Members – 81% +4pp

Students –70% -2pp China

Members - 79% +19pp

Students - 75% +16pp

Hong Kong SAR

Members - 79% +7pp

Students - 57% -13pp

India

Members - 69% +2pp

Students - 73% -6pp

Pakistan

Members - 71% -21pp

Students – 70% -7pp

Malaysia

Members - 70% +4pp

Students – 64% -3pp

Sri Lanka

Members - 84% -2pp

Students – 84% -1pp

Australia

Members - 74% -3pp

Students - 71% -5pp

Canada

Members – 85% -6pp

Students – 54% -9pp

United States

Members - 79% -2pp

Students – 60% +4pp

GCC

Members - 72% -7pp

Students - 76% -3pp

South Africa

Members - 88% -3pp

Students – 82% -5pp

Rest of Africa

Members - 85% -4pp

Students – 88% +1pp

Global total = members 78%

= students 76%

2013 Highlights

• 1st African President of CIMA

– Malcolm Furber (June 2013)

• CIMA plaques awarded for meritorious service

– Andrew Chioko (Malawi)

– Shameen Sookia (Mauritius)

• All Africa Webex Sessions with David Harris, for the first time available to all our markets

2013 Highlights

• CIMA recognised by SAQA as a

professional body in terms of Section 13 (1)

of the NQF Act 67 0f 2008

• CIMA designations recognised by SAQA :

– ACMA

– FCMA

2013 Highlights

• Biggest ever regional advertising

campaign

• 25% growth in new students

• First Performance pillar lecturers’

conference hosted in South Africa

• Global Business Challenge Final

– Held in South Africa in August

2013 Highlights

• CIMA awarded provisional accreditation by SARS as a Recognised Controlling Body (RCB) in terms of Section 240 of the Tax Administration Act of 2011

• Establishment of the Tax Practitioners Regulatory Group (TPRG)

• Online registration process developed

• 72 members and students registered in first intake

THE YEAR TO COME

Things to look forward to in 2014

• Introduction of 2015 syllabus and

assessment process

• MA Principles consultation and principles

launch

• Consultation Phase

– 18 March; Riverside Hotel and Spa; 10h00

• Launch of Shared Services Centre

Certificate

Things to look forward to in 2014

• 122 CPD and social events across the region including conferences in

– Zambia

– Zimbabwe

• Participation in first ever homecoming Revolution exhibition in London (www.homecomingrevolution.com)

• CIMA Bronze Medal awarded to MacGeorge Gyimah (Ghana)

31

Change driven by global research

Dublin

LondonWarsaw

DubaiAccra

Johannesburg

Cape TownDurban

BeijingShanghaiDelhi

MumbaiHong Kong

Ho Chi Minh City

Penang

SingaporeKuala Lumpur

Sydney

ChennaiColombo

Seattle

New YorkBethesda

Durham

San FranciscoAtlanta

Houston

External Research confirms the issues

32

• McKinsey report on “Education to Employment” and Economist ( April 2013) issue on youth unemployment

• Massive youth unemployment globally

• Vacancies are not being filled

• Lack of required skills

• Syllabus to align employment skills with training of students

33

Key themes from research

Introducing a competency-based syllabus to bridge the skills gap

Implementing rigorous assessment

Keeping the core accounting topics and enhance to reflect new issues

Ensuring the syllabus is relevant to business today

Generation Y students have new expectations

34

A unique opportunity to refocus

...and directly respond to the needs of employers

and students:

To increase the depth and quality of learning and

increase pass rates

To better utilise technology in the exams

To influence content of accounting and business

programmes to enhance graduate skills

To enhance the relevance of the qualification to

employers

The value of CGMA

35

Broader skills

Greater agility and adaptability

Integrated thinking

Evolving competencies

Background to 2015 syllabus and assessment:

Areas to be strengthened/introduced

•Big data and predictive analytics

•Finance function transformation

•Sustainability and integrated

reporting

•Costing and cost leadership

•Ethics

•Taxation

Link to 2015 syllabus:www.cimaglobal.com/2015

New CIMA report on employability:www.cimaglobal.com/employability

Educating the next generation

Thank you

Zahra Cassim opened the floor for questions: There were a number of questions from the floor

about CIMA’s activities in South Africa and Durban and plans for the future. It was a lively discussion

from a member/student point of view and good interaction from Zahra and Taher who were fielding

questions.

7. Nomination and election of the branch committee

The chairman proposed that the current team serve another team and he asked for nominations to

serve on the reserve list to fill vacancies as they arise on the role based committee.

There were two member nominations:

Rachel Garber and Sihle Mpungose

There were three volunteers to be on the reserve list to serve on the branch KZN committee:

Bekilhemba Hwalima, Thokozani Shabalala and Zama Mkumla.

Mover : Alan Townsend Seconded : Karen O’Reilly

8. Presentation of awards for 2013

The certificates were presented to the students who were there to receive awards and

congratulated all the students who had passed the exams and had done well. It was noted that many

KZN students had done quite well in the last exam.

9. General

The chairman thanked each member and student as well as Zahra for taking the time to attend the

AGM. He noted that the committee was positive and energised about the year ahead and asked for

support from members and students to attend the exciting events which have been planned. He

encouraged anyone with ideas and suggestions for future events to channel them through the

committee or himself.

10. Closing

There being no further matters. Taher Jhavary thanked all present and looked forward to the

challenge.