The 2012 Budget Review lists 43 major infrastructure projects, adding up to R3.2 trillion in infrastructure. “There have been significant cost over-runs with infrastructure projects. There have also been instances where government departments do not spend, under-spend or misspend. Imagine how service delivery would improve if the requisite finance and accounting skills were in place,” Kater challenges.
While ACCA SA is well-positioned to play a leading role in building financial and accounting skills in South Africa, Kater emphasises the fact that there is scope for all accounting professional bodies, to play a role in the South African market. “Shortages of 22 000 accountants have been reported. We need all players in the South African market to rise to the challenge and partner with government, state-owned enterprises, municipalities and firms to build the requisite finance and accounting skills,” she remarks.
Kater dislikes weasel words and management concepts and terminology, which are often the flavour of the month. “While the term ‘human capital’ is often used rather glibly, I truly believe that South Africa’s greatest resource is its people. There is much wisdom in the Chinese proverb, which says: ‘If your vision is for a year, plant wheat. If your vision is for ten years, plant trees. If your vision is for a lifetime, plant people.’ In order to write a new story about South Africa, it is imperative that we develop our people. We need to embrace Minister of Higher Education and Training, Dr Blade Nzimande’s vision of making every workplace a training space. We should, however, expand this vision to include every home and every school,” she contends.
Kater is very proud of the fact that South Africa was invited to join the BRIC group (Brazil, Russia, India and China in December 2010. “While South Africa may be considerably smaller than its partners, and some may say that South Africa is batting out of its league, South Africa’s membership of BRICS is very important. BRICS countries are playing increasingly important roles globally. Examples of this include the fact that the BRICS
recently demanded greater voting powers
in the IMF and they have also recently mooted the establishment of a BRICS- led South to South Development Bank. Perhaps even more important is the fact that there is also a heavy focus within BRICS members on financial co-operation and investment opportunities among themselves. President Zuma recently invited BRICS members to explore investment opportunities in South Africa’s infrastructure development projects. BRICS involvement in these initiatives would attract important FDI and would also help to spur job creation. Another unintended consequence will be an increase in demand for accounting and finance skills. Fortunately, from a finance and accounting perspective, BRICS members are easy to work with: ACCA is playing an ever-expanding role in Latin America, and has offices in Russia, India and China,” she informs.
Balancing the role of professional woman and mother of two is fraught with challenges. Insofar as it is possible, Kater always tries to maintain a good work-life balance, “Sunday is always a day of rest and a family day. During the week, I try to keep fit through aerobics, exercising and running. I also enjoy reading detective stories and thrillers. I believe it is important not to neglect one’s spiritual side, so I make time to read my Bible. I also enjoy reading Joyce Meyer’s books, which I find very inspiring.”
Kater concludes by citing Mandela’s words, “There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.”
May 2012 | Management Today 53
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