SAICA's senior executive for professional development Mandi Olivier. PHOTO: Supplied by SAICA

JOHANNESBURG - The South African Institute of Chartered Accountants (SAICA) said on Monday it had added the Eswatini Institute of Accountants (EIA) to the growing list of global organisations with which it has mutual recognition agreements (MRA).

SAICA already has reciprocity agreements with institutes from England and Wales, Australia and New Zealand, Canada, Hong Kong, Ireland, Scotland, Namibia, Zimbabwe, Kenya and India.

These agreements ensure that the South African chartered accountancy CA(SA) qualification is regarded in the same light as a local qualification, should a SAICA member wish to work in another jurisdiction. 

On Monday, SAICA said the addition of Eswatini would make professional mobility for chartered accountants easier.

SAICA's senior executive for professional development Mandi Olivier said strong cross border relations with Eswatini were crucial to ensuring a good working relationship between the two countries as South Africa was its neighbour's major trading partner.

Olivier said advancing the interests of respective members and positively contributing to the development of the accounting profession in Africa was at the heart of the MRA as it provided a mutual co-operation framework between the two organisations.

The agreement will facilitate the reciprocal recognition of the CA(SA) qualification and Eswatini's equivalent, ensuring that members of both institutions attain local recognition of their designation.

EIA executive director Barnabus Mhlongo said the MRA would also increase the mobility of professionals at either end to herald a new dimension for both small and medium businesses in both countries.

- African News Agency (ANA)