The South African Institute of Chartered Accountants (SAICA) has appointed its first female CEO, Patricia Stock, effective 1 December 2023.

This transformative appointment comes as a double victory for the institute as it coincides with Women’s Month and propels the institute’s strategic agenda for growth and transformation in the accountancy profession.

A Chartered Accountant by profession, Stock’s qualifications include a master’s degree in international accounting from the University of Johannesburg. She has 14 years of operational, senior management and executive experience.

“I am honoured, humbled and excited to step into the role of CEO at SAICA,” Stock says. “I have always believed that finance and audit professionals have the potential to drive positive change, not only in our organisations but within society at large. With the resolute team at SAICA, I am eager to champion excellence, innovation, and transformation. I genuinely believe that if we work together to empower our people, members, and associates, we can all be the difference-makers that the world needs.”

Vincent Motholo, chairperson of the SAICA Board, comments: “We are delighted to welcome our first Black female CEO, who brings with her a remarkable blend of experience, vision, and transformative leadership to SAICA. Her proven record as a difference-maker in the finance, audit, and broader business landscape, resonates strongly with our vision to develop SAICA into a leading global professional body, and we are confident that Ms Stock is the right leader to drive this agenda forward.

“We believe that her modern-day business acumen, strategic thinking, passion for people and deep understanding and commitment of our profession and its people will further elevate SAICA’s role in shaping the future of the economy. With her at the helm, we are well-positioned for a dynamic era of growth, leadership and positive impact.”

Motholo adds that SAICA extends its deep gratitude and appreciation to the incumbent CEO; Freeman Nomvalo, for his indelible contribution not only to SAICA, but to the profession in its entirety. “He has been a real difference maker and SAICA wishes him all the success in his next chapter.”