BUILDING THE CAs OF TOMORROW: SAICA’s January 2026 IAC results signal a profession in transformation.

The South African Institute of Chartered Accountants (SAICA) has released the results of the January 2026 Initial Assessment of Competence (IAC), and the numbers tell a story that extends well beyond examination halls. A total of 2,055 candidates passed, 1,851 of them on their first attempt, representing a 77% first-time pass rate. Behind each of those numbers is a future chartered accountant stepping into a profession that is rapidly redefining what it means to be a finance professional in the 21st century.

The results arrive at a moment of deliberate institutional evolution. SAICA’s updated CA of the Future Competency Framework has reshaped the assessment landscape, moving decisively beyond the traditional audit-centric model to produce professionals equipped with digital acumen, sustainability literacy, and the kind of integrated thinking that modern economies demand.

A new assessment for a new era

The January 2026 IAC was not merely an examination. It was the first major test of SAICA’s recalibrated vision for the profession. The assessment evaluated candidates against competencies that would have been peripheral a decade ago but are now central, critical thinking, problem-solving, business acumen, digital fluency, and human-centred skills.

SAICA CEO Patricia Stock CA(SA) was unambiguous about the strategic intent behind the shift.

“The revised assessment is designed to align more closely with the future of the profession by embedding critical competencies such as digital acumen and sustainability. The CA of the Future Competency Framework is not solely about examination outcomes; it is about equipping candidates with the skills, judgement and adaptability required to thrive in a rapidly changing world.” Stock said.

This is a significant departure from the conventional understanding of what a chartered accountant does. SAICA is no longer simply producing auditors. It is developing what it describes as “future-fit finance professionals” individuals whose competence spans financial and non-financial reporting, strategy, risk management, governance, and the capacity to demonstrate integrated thinking across all of these disciplines.

Transformation: progress that demands acknowledgment

Perhaps, the most consequential figure in the results is this, 63% of all successful candidates were African, Coloured, or Indian. A total of 1,297 ACI candidates passed, continuing a trajectory that reflects years of intentional, resourced effort by SAICA and its partners.

“We are encouraged by key aspects of the January 2026 IAC outcomes, particularly the number of African, Coloured and Indian candidates who successfully passed. Despite the overall slight decline, this progress speaks to our ongoing efforts to broaden meaningful access to the profession and to support greater transformation, even as we reflect critically on areas where performance can be further strengthened,” Stock said.

The numbers are worth sitting with. In a country where access to quality postgraduate education remains unevenly distributed along racial and socioeconomic lines, a 63% ACI pass composition is not incidental. It is the product of structural intervention, bursary programmes, academic support networks, and institutional commitment that has been sustained over decades, not election cycles.

Thuthuka: the programme that keeps delivering

First time candidates funded through SAICA’s Thuthuka Education Upliftment Fund achieved an 80% pass rate, three percentage points above the national first-time average of 77%. This is a result that merits particular attention.

The Thuthuka programme provides bursaries and wraparound academic support to students from historically disadvantaged backgrounds. That its beneficiaries outperform the general candidate population is not a statistical anomaly. It is evidence that when access is accompanied by sustained, structured support, the talent pipeline responds.

SAICA acknowledged this directly, noting that the result is

“Testament to SAICA’s commitment to transform the profession through the generosity of our Thuthuka donors. The significant work done by candidates and academic programme providers offering the Thuthuka bursary programme through the additional wrap around support offered,” the institute commended.

For policymakers, funders, and educational institutions, the Thuthuka model offers a replicable blueprint: invest in access, invest equally in support, and measure outcomes rigorously. The 80% pass rate is the return on that investment.

Excellence at the top:

The top ten include:

• 1st Gamlath Senarathne

• 2nd Simone Wessels

• 3rd Waldo Pienaar

• 4th Grace Steward

• 5th Zander Jansen van Rensburg

• 6th Rick Nkosi

• 7th Hannah Henry

• 8th joint - Paiton Rowan

• 8th joint - Lily Robinson

• 10th Nabeel Ayob

Gamlath Senarathne claimed the top position, followed by Simone Wessels and Waldo Pienaar. The diversity of the top ten, spanning gender, background, and institution reflects the broadening base from which South Africa’s leading accounting talent is being drawn.

Rick Nkosi’s sixth-place finish and Nabeel Ayob’s tenth-place result underscore that excellence in this profession is no longer the preserve of any single demographic.

An honest reckoning: where improvement is needed

The overall first-time pass rate of 77% represents a decline from the 82% achieved in January 2025. SAICA has not glossed over this. The institute acknowledged that "performance patterns vary between different modes of delivery” and committed to “ongoing monitoring and endorsement of academic programmes” with a focus on “improving students’ performance, progression and throughput.”

This candour is itself noteworthy. A professional body that reports declining pass rates alongside transformation gains without attempting to obscure either demonstrates the kind of institutional maturity that builds long-term credibility.

The 77% pass rate remains strong by any comparative standard, but SAICA’s willingness to interrogate its own data signals that the institute holds itself to standards higher than mere respectability.

The demographic breakdown reveals where further work is required. The African first-time pass rate of 70%, while representing the largest candidate cohort by a significant margin, trails the White first-time pass rate of 90%. Closing that 20-percentage-point gap requires continued investment in academic programme quality, postgraduate readiness, and the kind of sustained support that Thuthuka has demonstrated can produce results.

To those who did not pass: this is not the end

Stock addressed unsuccessful candidates with a message that bears repeating.

“This result does not define your future. Use the experience to reflect, to learn, and to build forward. With persistence, commitment, and the right support structures, success remains within reach.”

In a profession that demands resilience as a core competency, the ability to absorb a setback and return stronger is not a consolation, it is a qualification. Many of South Africa’s most accomplished chartered accountants did not pass their first professional assessment on the first attempt. The IAC is a gateway, not a verdict.

The bigger picture: why this matters for South Africa

South Africa’s economy is crying out for skilled, ethical, and adaptable finance professionals.

The country’s fiscal challenges, governance deficits, and infrastructure demands all require the kind of rigorous financial stewardship that chartered accountants are trained to provide. Every candidate who passed the January 2026 IAC is one step closer to entering that arena.

SAICA’s repositioning of the CA(SA) designation from auditor to integrated finance professional is not merely an academic exercise. It is a strategic response to a world in which sustainability reporting, artificial intelligence, and cross-disciplinary governance are no longer optional competencies.

The January 2026 results suggest that the pipeline is responding to this vision, even as the transition introduces new challenges. Stock framed it clearly:

“We remain steadfast in maintaining the rigour and credibility of our education and assessment processes, ensuring that those who qualify do so with the capabilities expected of CAs(SA).”

To the 2,055 candidates who passed: South Africa needs you. The profession is waiting. And on the evidence of these results, it is in capable hands.