The history and development of accounting can be traced back for thousands of years to ancient civilisation, although I do not wish to go back that far.

The story of this constantly evolving profession begins in the late 1800’s.

Following the gold-rush to Witwatersrand, members of the British Society of Accountants and Auditors and the Institute of Chartered Accountants in England and Wales established the first organised body of accountants in South Africa. It was launched in Johannesburg, consisting of 65 members, under the name: Institute of Accountants and Auditors in the South African Republic.

Following the outbreak of the South African War, the Institute kept on developing and expanding with 34 members joining the body, initiation of the first articles of clerkship and the CA(SA) denomination being put into use. Despite this, the officials of the Second World War did not regard the designation as a profession; and as a result, some of the members had to serve in the army, navy and air force while twenty five clerks were captured as prisoners of war. The Society arranged to send accounting books to all the incarcerated clerks in order for them to continue with their studies.

1939 marked the beginning of RSM South Africa (as we know it today) when founding members Reginald Garth (RG) Betty and John (Jack) Dickson brainstormed and incorporated Betty & Dickson on the 1st of April 1939.

At the conclusion of World War II, talks had already started on forming a body which would concern itself with professional matters at a national level, speak and act for the profession in South Africa as a whole. In 1945 these ideals were fulfilled when the Joint Council of the Societies of Chartered Accountants (SA) was formed. They played a crucial role in the drafting of the Public Accountants and Auditors Act of 1951. This act established the right to use the CA(SA) designation and CTA or equivalent became the requirement to enter the final qualifying examination set by the PAAB.

With the passing of the Companies Act in 1973, the Accounting Practices Board also set out on the journey to set down and explain GAAP to the practising professionals. This also marked the year that Brian Eaton joined the firm. He went on to become Managing Partner in 1995 and still serves in this position today.

Unfortunately we had to bid farewell to founding members Jack Dickson in 1968, and RG Betty on the 3rd of November 1981 as they passed away. They respectively served 29 and 42 years and contributed greatly to what we now call RSM South Africa.

In 1985 the Association of Black Accountants of Southern Africa was established to promote interests of black men and women engaging in the accounting profession. As a joint effort by SAICA, PAAB and ABASA, Eden Trust was formed in 1987 as a way of showing commitment to the association. Betty and Dickson also played a role in this trust with Dave Betty becoming the Chairman in 1988. Sixteen years later, the trust’s name was changed to what it is now known as: Thuthuka Bursary Fund.

Elizabeth Kruger was the first woman to join the society in 1917 and by 1964 there were 27 female members nationwide. As at March 2008, SAICA had over 28 000 members: 4000 being black, coloured and Indian and 6800 being women.

In 2002, Betty & Dickson joined the global network called RSM International and added the RSM prefix to become RSM Betty & Dickson.

January 2005 was the start of the implementation of IFRS and ISA. The transition to international standards was due to the need for assisting dual listed companies by removing the need to prepare financial statements in different frameworks. It was also a move towards attracting foreign investments and thereby providing credibility to the financial statements of South African companies in the global market. The JSE also revised their listing requirements to accompany this transition.

South Africa, as one of the first countries to implement these international standards, still serves as a benchmark for countries entering this playing field at a later stage. It also led to the international merger and consolidation of large accountancy firms. Governance had to be internationalised to harmonise with accounting standards and thus, the King code was written. Unfortunately, despite all these efforts taken, 2002 was marked with international accounting scandals. In reaction, societies and institutions have taken steps towards the improvement of the transparency and effectiveness of SAICA’s disciplinary process.

In 2013, RSM Betty & Dickson branched out to form RSM Betty & Dickson Advisory Services to better represent the multi-disciplinary nature of the business. In 2015, the RSM network underwent a full global re-brand, adopting a single name across all firms. RSM Betty & Dickson now became RSM South Africa.

Just like the profession, RSM and our accounting and auditing standards keep on developing. Thousands of prospective Chartered Accountants graduate annually, starting a new generation of CA(SA)’s. Let us carry the legacy forward with pride!

Martha Hamming

Trainee Accountant, Johannesburg