SAICA released the results of the December 2025 Assessment of Professional Competence (APC) on 27 February 2026, confirming that 2,314 of the 3,801 candidates who sat the exam had successfully demonstrated their professional competence. The overall pass rate of 61% represents a 12 percentage point decline from the 73% achieved in 2024, and candidate numbers fell by 522 compared to the prior sitting.
A note on naming: SAICA labels each APC by the year in which the exam is written. The December 2025 APC results were released in February 2026. Throughout this article, “2025” refers to the exam sitting, while “2026” refers to the year in which results were released and newly qualified CAs enter the market.
For employers and recruiters active in the CA(SA) talent market, these two data points together tell a more significant story than either would alone. A smaller cohort that also passed at a lower rate means the pool of newly qualified CAs entering the market in 2026 is materially smaller than it was twelve months ago. In a market where demand for CA(SA) talent remains strong, that compression matters.
The four-year picture
The 2025 result is best understood in the context of the full four-year trend. The APC has moved significantly across this period, reflecting the compounding effects of COVID-19 disruption on successive candidate cohorts.
| Year | Candidates | Passes | Pass Rate | Change |
|---|---|---|---|---|
| 2022 | 4,671 | 2,711 | 58% | baseline |
| 2023 | 4,348 | 2,266 | 52% | -6pp |
| 2024 | 4,323 | 3,147 | 73% | +21pp |
| 2025 | 3,801 | 2,314 | 61% | -12pp |
Source: SAICA APC media releases 2022 to 2025. “pp” denotes percentage points.
The 2024 result was exceptional. A 21 percentage point improvement in a single sitting was the strongest improvement in recent memory, and it created a larger-than-usual cohort of newly qualified CAs entering the market in 2025. The 2025 result is a correction from that peak, though it remains above the lows of 2022 and 2023.
61%
Overall pass rate in December 2025, down from 73% in 2024
3,801
Candidates sat the 2025 APC, down 522 from the 4,323 who sat in 2024
67% / 45%
First-time vs repeat candidate pass rates in 2025
The COVID cohort context
SAICA has been deliberate in contextualising the 2025 results. The release notes that most candidates who sat the December 2025 APC began their academic journey in 2020, a year defined by unprecedented disruption to schooling, tertiary studies, access to resources, and traditional modes of learning. SAICA frames the 2025 results not as a failure of the qualification system, but as a reflection of the compounding challenges faced by a generation whose foundational years were significantly impacted.
SAICA CEO Patricia Stock CA(SA) stated: “These results reflect not only the dedication of the candidates, but also the collective effort of training offices, academic institutions and mentors who play a vital role in shaping future professionals. SAICA remains focused on continuous improvement within the professional landscape to ensure that prospective CAs(SA) are equipped, adaptable, agile and resilient to remain future-fit and meet the evolving demands of the workplace and serve the public interest.”
This framing is consistent with what SAICA noted in 2022, when the first COVID-affected cohort sat the APC and achieved a 58% pass rate. The 2025 cohort represents a different wave of that same disruption, with candidates who were in their first year of undergraduate study when the pandemic began.
Demographic breakdown: a mixed picture
The 2025 demographic results show a decline across all groups compared to 2024, with the sharpest fall recorded for African candidates. The table below shows the three-year trend by demographic group.
| Demographic | 2023 | 2024 | 2025 | Change (24 to 25) |
|---|---|---|---|---|
| African | 39% | 66% | 49% | -17pp |
| Coloured | 49% | 75% | 69% | -6pp |
| Indian | 60% | 75% | 71% | -4pp |
| White | 76% | 85% | 79% | -6pp |
| Overall | 52% | 73% | 61% | -12pp |
Source: SAICA APC media releases. 2023 Indian figure per SAICA 2023 media release. pp = percentage points.
The 17 percentage point decline in the African pass rate, from 66% to 49%, is the most significant demographic shift in the 2025 results. SAICA acknowledges this directly, noting that “the outcomes in 2025 highlight that sustainable transformation requires long-term, structured intervention across the academic pipeline.” The organisation is working with the Department of Basic Education, higher education providers, and FASSET to address root causes across the full education and training value chain.
The demographic spread in pass rates has remained broadly consistent across the four-year period, with meaningful differences persisting across all groups despite the strong across-the-board improvement seen in 2024. SAICA is explicit that closing these gaps requires deliberate, long-term intervention across the full education and training pipeline, not year-on-year variation in a single assessment. The 2025 results reinforce that view.
On a positive note, the 2025 Honours Roll included seven exceptional candidates, six of whom are female. Among them is Ofentse Modiba, a beneficiary of SAICA's Thuthuka Education Upliftment Fund (TEUF), SAICA's flagship transformation initiative. Modiba's achievement on the Honours Roll is a concrete demonstration of what sustained investment in mentorship, academic support, and holistic student development can produce.
What this means for the CA(SA) talent pipeline
For employers, the 2025 APC results create a tighter market than 2024. Two dynamics are compressing the available pool simultaneously: fewer candidates sat the exam, and a lower proportion of those who sat it passed. The result is a cohort of newly qualified CAs that is meaningfully smaller than the one that entered the market twelve months ago.
This matters because demand for CA(SA) talent has not contracted at the same rate. Finance functions across South Africa continue to require qualified accountants at every level, from newly qualified CAs in their first commercial roles through to senior finance managers and CFOs. A smaller supply into a stable or growing demand environment means competition for the best candidates intensifies.
The repeat candidate pass rate of 45% is also worth noting. Nearly half of all candidates who sat the 2025 APC were doing so for the second or third time. This is a cohort that has demonstrated persistence, and many will have gained additional practical experience between sittings. Employers who focus exclusively on first-time passers may be overlooking a segment of the cohort that has already demonstrated resilience under pressure.
What employers should do differently in 2026
A smaller cohort requires a more proactive hiring approach. The employers who will secure the strongest newly qualified CAs in 2026 are those who act with speed and intention:
- Move earlier than you think: CA trainees write the APC in December of their final year, with articles closing out around the same time. By Q4, while candidates are still completing their training contracts, the best of them are already receiving and considering offers for positions starting in the new year. Employers who wait for results to be released in February are entering a market where the top candidates have already made their decisions. The hiring window opens in the last quarter of the year, not after results day.
- Broaden the candidate definition: With a smaller cohort, employers who limit their search to first-time passers from a narrow set of training offices will find the market frustrating. Considering repeat passers, candidates from a wider range of training backgrounds, and those with non-traditional routes to qualification will open up the available pool.
- Prioritise candidate experience: In a tighter market, candidates have more leverage. Employers who offer a clear career path, a compelling value proposition, and a fast and respectful recruitment process will consistently outperform those who treat hiring as an administrative exercise.
- Use specialist recruitment: Generalist platforms are poorly suited to the CA(SA) market at this level. Specialist finance recruiters with direct relationships in the newly qualified CA community can identify and engage the right candidates significantly faster than a job posting alone.
The broader context
The 2025 APC results are a reminder that the CA(SA) talent pipeline is not a constant. Pass rates, candidate numbers, and the demographic composition of each cohort shift from year to year, and those shifts have real consequences for employers who rely on newly qualified CAs as a core hiring segment.
The four-year trend from 2022 to 2025 shows a profession navigating the long tail of COVID-19 disruption: a low in 2023, a strong recovery in 2024, and a partial correction in 2025. Whether 2026 represents a further decline or a stabilisation will depend on how well the pipeline of candidates who began their studies in 2021 and 2022 has been supported through the qualification journey.
For employers, the practical implication is consistent regardless of the year: the CA(SA) market rewards preparation, speed, and specialist knowledge. Those who invest in understanding the pipeline, and who move decisively when the cohort enters the market, will build the finance teams they need. Those who wait will find the best candidates already placed.