Die ouditkomitee binne die kontemporêre korporatiewe milieu
- Authors: Marx, Ben
- Date: 2008-11-03T07:08:58Z
- Subjects: Audit committees , Corporate governance , Corporations - Auditing , Auditing
- Type: Inaugural
- Identifier: uj:14894 , http://hdl.handle.net/10210/1444
- Description: Inaugural lecture--Dept. of Accounting, Rand Afrikaans University, 2 August 1995
- Full Text:
- Authors: Marx, Ben
- Date: 2008-11-03T07:08:58Z
- Subjects: Audit committees , Corporate governance , Corporations - Auditing , Auditing
- Type: Inaugural
- Identifier: uj:14894 , http://hdl.handle.net/10210/1444
- Description: Inaugural lecture--Dept. of Accounting, Rand Afrikaans University, 2 August 1995
- Full Text:
An analysis of the development, status and functioning of audit committees at large listed companies in South Africa
- Authors: Marx, Benjamin
- Date: 2010-04-12T10:24:23Z
- Subjects: Auditing , Audit committees , Business ethics , Corporate governance , Financial statements
- Type: Thesis
- Identifier: uj:6774 , http://hdl.handle.net/10210/3184
- Description: D.Comm. , Accurate, credible and reliable financial reporting is critical for the effective functioning of the world’s capital markets and the protection of the interests of stakeholders, who rely on such information for their decision making. All the well- known corporate collapses of the 21st century have in common fraudulent financial reporting, unscrupulous management practices and the fact that they all had audit committees consisting of well-known and respected people. This state of events highlighted the fact that audit committees should not merely exist as window-dressing, but should be effective in their functioning. Audit committees will thus only be of value if they are properly constituted, are functioning effectively and if their role is clearly understood by all the parties concerned. This study’s research problem was to analyse the effective functioning of audit committees in the modern business environment, and the study aimed to investigate the factors and events that impact on the development, status and effective functioning of audit committees at large listed companies in South Africa. This was done through a comprehensive literature study of the factors impacting on audit committees and the empirical testing thereof at the largest listed companies in South Africa. The study found that audit committees are well established, properly constituted, have the authority and resources to effectively discharge their responsibilities and consist of members who act independently and who have the right mix of appropriate experience, financial literacy and financial expertise amongst their members. The audit committee’s role was found to be generally well understood and supported by the board and the Chief Financial Officers. It was further found that the audit committees are effective in discharging their oversight responsibilities on the board’s behalf, with the only real exception being their effectiveness regarding IT-related aspects. However, audit committee reporting in annual reports was found to be of a poor standard and did not reflect the iii actual workings and effectiveness of the committee. It was also found that the audit committee’s perceived responsibilities are evolving and that audit committee members’ legal liabilities are increasing. The research findings make a valuable contribution to the existing body of knowledge on current audit committee practices and developments. The study also outlines new responsibilities for future audit committees, as well as aspects that should be addressed in future legislation, regulations, corporate governance codes and best practice standards for audit committees.
- Full Text:
- Authors: Marx, Benjamin
- Date: 2010-04-12T10:24:23Z
- Subjects: Auditing , Audit committees , Business ethics , Corporate governance , Financial statements
- Type: Thesis
- Identifier: uj:6774 , http://hdl.handle.net/10210/3184
- Description: D.Comm. , Accurate, credible and reliable financial reporting is critical for the effective functioning of the world’s capital markets and the protection of the interests of stakeholders, who rely on such information for their decision making. All the well- known corporate collapses of the 21st century have in common fraudulent financial reporting, unscrupulous management practices and the fact that they all had audit committees consisting of well-known and respected people. This state of events highlighted the fact that audit committees should not merely exist as window-dressing, but should be effective in their functioning. Audit committees will thus only be of value if they are properly constituted, are functioning effectively and if their role is clearly understood by all the parties concerned. This study’s research problem was to analyse the effective functioning of audit committees in the modern business environment, and the study aimed to investigate the factors and events that impact on the development, status and effective functioning of audit committees at large listed companies in South Africa. This was done through a comprehensive literature study of the factors impacting on audit committees and the empirical testing thereof at the largest listed companies in South Africa. The study found that audit committees are well established, properly constituted, have the authority and resources to effectively discharge their responsibilities and consist of members who act independently and who have the right mix of appropriate experience, financial literacy and financial expertise amongst their members. The audit committee’s role was found to be generally well understood and supported by the board and the Chief Financial Officers. It was further found that the audit committees are effective in discharging their oversight responsibilities on the board’s behalf, with the only real exception being their effectiveness regarding IT-related aspects. However, audit committee reporting in annual reports was found to be of a poor standard and did not reflect the iii actual workings and effectiveness of the committee. It was also found that the audit committee’s perceived responsibilities are evolving and that audit committee members’ legal liabilities are increasing. The research findings make a valuable contribution to the existing body of knowledge on current audit committee practices and developments. The study also outlines new responsibilities for future audit committees, as well as aspects that should be addressed in future legislation, regulations, corporate governance codes and best practice standards for audit committees.
- Full Text:
Corporate governance: the ethical shortfall within the business practice
- Authors: Kotsis, Aristidis
- Date: 2010-10-28T08:57:01Z
- Subjects: Corporate governance , Business ethics
- Type: Thesis
- Identifier: uj:6947 , http://hdl.handle.net/10210/3457
- Description: M.Comm. , Corporate governance has become a heated topic of debate when meetings arise and new legislation is drafted. It is also a means to mould new ways of doing business as more and more businessmen are found to be committing irregularities in their actions. Fraud has become rife with over 30 000-fraud cases reported annually. Where will it end and how to curb this? Within this study, a comparison is drawn between corporate governance and ethics. The interrelationship between the two is noted and compared. The differences are brought forward and similarities discussed. The study tries to define ethics and corporate governance. It then moves on to establish which are the principles of corporate governance. This is followed by an evaluation of ethics and corporate governance. Finally, recommendations are made to make corporate governance more effective. These are hard questions but ones, which need answering. The study concerns itself with the study of corporate governance and ethics. Corporate governance is not merely a theoretical tool but one, which needs to be practiced. The question concerning the fact that ethics is synonymous to corporate governance is questioned and answered. In question are the definitions of ethics and corporate governance. Each is defined but the realisation that there is more than one definition of each, which is widely used, is debated. Each definition brings its own problems but also proves that it is vital to the whole. Definitions are usually one-liners, which instil an author’s point of view. To complement each definition further elaborance is made. Each of these further defining statements are discussed and compared to the definitions. A comparison is sought and the purpose of these elaborances is discussed. The principles of corporate governance are documented and later discussed in detail. Comparisons with ethics are drawn and the principles are later discussed with practical examples to serve as guidelines and examples. The driving principles of corporate governance and the King report are debated and transparency proves to be the driving factor over and above all other principles. Within the study, it becomes apparent that corporate governance is only essential in big business. Small to medium business is left out. Why should this be? Another provocative question reviewed is the question of whether corporate governance is essential or not. Why all this fuss over a theoretical report. However, to discuss corporate governance without ethics is like using only half measures in a teacup. Defining ethics is easy but the real study comes forth when the true essence of what is ethics is debated. Morality is a factor but the inner soul’s consciousness of what is right or wrong is discussed. The laws of human nature serve all. The scales can be tipped either way if the price is perceived high enough. The rights and obligations of ethics are questioned together with the director’s responsibilities in determining the ethical climate in business.
- Full Text:
- Authors: Kotsis, Aristidis
- Date: 2010-10-28T08:57:01Z
- Subjects: Corporate governance , Business ethics
- Type: Thesis
- Identifier: uj:6947 , http://hdl.handle.net/10210/3457
- Description: M.Comm. , Corporate governance has become a heated topic of debate when meetings arise and new legislation is drafted. It is also a means to mould new ways of doing business as more and more businessmen are found to be committing irregularities in their actions. Fraud has become rife with over 30 000-fraud cases reported annually. Where will it end and how to curb this? Within this study, a comparison is drawn between corporate governance and ethics. The interrelationship between the two is noted and compared. The differences are brought forward and similarities discussed. The study tries to define ethics and corporate governance. It then moves on to establish which are the principles of corporate governance. This is followed by an evaluation of ethics and corporate governance. Finally, recommendations are made to make corporate governance more effective. These are hard questions but ones, which need answering. The study concerns itself with the study of corporate governance and ethics. Corporate governance is not merely a theoretical tool but one, which needs to be practiced. The question concerning the fact that ethics is synonymous to corporate governance is questioned and answered. In question are the definitions of ethics and corporate governance. Each is defined but the realisation that there is more than one definition of each, which is widely used, is debated. Each definition brings its own problems but also proves that it is vital to the whole. Definitions are usually one-liners, which instil an author’s point of view. To complement each definition further elaborance is made. Each of these further defining statements are discussed and compared to the definitions. A comparison is sought and the purpose of these elaborances is discussed. The principles of corporate governance are documented and later discussed in detail. Comparisons with ethics are drawn and the principles are later discussed with practical examples to serve as guidelines and examples. The driving principles of corporate governance and the King report are debated and transparency proves to be the driving factor over and above all other principles. Within the study, it becomes apparent that corporate governance is only essential in big business. Small to medium business is left out. Why should this be? Another provocative question reviewed is the question of whether corporate governance is essential or not. Why all this fuss over a theoretical report. However, to discuss corporate governance without ethics is like using only half measures in a teacup. Defining ethics is easy but the real study comes forth when the true essence of what is ethics is debated. Morality is a factor but the inner soul’s consciousness of what is right or wrong is discussed. The laws of human nature serve all. The scales can be tipped either way if the price is perceived high enough. The rights and obligations of ethics are questioned together with the director’s responsibilities in determining the ethical climate in business.
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Environmental and social reporting as a tool for dialogue with stakeholders in the Highveld region
- Authors: Mboshane, Makoma Maureen
- Date: 2010-11-09T06:24:19Z
- Subjects: Industrial management , Corporate governance , Business communication , Social responsibility of business
- Type: Mini-Dissertation
- Identifier: http://ujcontent.uj.ac.za8080/10210/369839 , uj:6955 , http://hdl.handle.net/10210/3464
- Description: M.Comm. , Challenges to businesses have become ever more complex and unpredictable in a fast changing and globalised world. Businesses continuously have to find ways to respond to pressing challenges that were not on the agenda in the past two decades. The traditional stakeholder base has broadened and includes diverse groups of interested parties inside and outside the boundaries of business. The business imperative is now the ability to balance the conflicting demands of its various stakeholders. Businesses are anxious to protect their reputation and to comply with legislation, however, growing stakeholder activism signals emerging gaps or barriers between organisational methods and stakeholder expectations. Broader stakeholder engagement and collaboration to find a win-win solution to these concerns, while valuing stakeholder relationships is key to unlocking value in today’s ramified network based economy. Businesses need to establish meaningful collaborative communication with stakeholders. The possibility to enter into dialogue and advocate greater transparency and information disclosure per stakeholder group is highly recommended. It is also recommended that business consider a shift from stakeholder management to stakeholder collaboration practices.
- Full Text:
- Authors: Mboshane, Makoma Maureen
- Date: 2010-11-09T06:24:19Z
- Subjects: Industrial management , Corporate governance , Business communication , Social responsibility of business
- Type: Mini-Dissertation
- Identifier: http://ujcontent.uj.ac.za8080/10210/369839 , uj:6955 , http://hdl.handle.net/10210/3464
- Description: M.Comm. , Challenges to businesses have become ever more complex and unpredictable in a fast changing and globalised world. Businesses continuously have to find ways to respond to pressing challenges that were not on the agenda in the past two decades. The traditional stakeholder base has broadened and includes diverse groups of interested parties inside and outside the boundaries of business. The business imperative is now the ability to balance the conflicting demands of its various stakeholders. Businesses are anxious to protect their reputation and to comply with legislation, however, growing stakeholder activism signals emerging gaps or barriers between organisational methods and stakeholder expectations. Broader stakeholder engagement and collaboration to find a win-win solution to these concerns, while valuing stakeholder relationships is key to unlocking value in today’s ramified network based economy. Businesses need to establish meaningful collaborative communication with stakeholders. The possibility to enter into dialogue and advocate greater transparency and information disclosure per stakeholder group is highly recommended. It is also recommended that business consider a shift from stakeholder management to stakeholder collaboration practices.
- Full Text:
An investigation into the governance of information technology projects in South Africa
- Marnewick, Carl, Labuschagne, Les
- Authors: Marnewick, Carl , Labuschagne, Les
- Date: 2011-08
- Subjects: Information technology projects , Corporate governance
- Type: Article
- Identifier: uj:5771 , http://hdl.handle.net/10210/7778
- Full Text:
- Authors: Marnewick, Carl , Labuschagne, Les
- Date: 2011-08
- Subjects: Information technology projects , Corporate governance
- Type: Article
- Identifier: uj:5771 , http://hdl.handle.net/10210/7778
- Full Text:
Outsourcing the internal audit function
- Authors: Campbell, Errol
- Date: 2012-06-06
- Subjects: Corporate governance , Internal auditing - Contracting out
- Type: Mini-Dissertation
- Identifier: http://ujcontent.uj.ac.za8080/10210/376468 , uj:2500 , http://hdl.handle.net/10210/4953
- Description: M.Comm. , Corporate governance has become an important part of doing business today, especially in the aftermath of the massive corporate failures that have occurred in the recent past. Corporate governance legislation and corporate social responsibilities have placed pressure on companies to implement an internal audit function within their organisations. As such boards of directors (boards) have to decide whether they should incur the cost internally by implementing an in-house internal audit function and thereby employing more resources or pay an outsourced service provider to perform this function. This study looks at the fundamental considerations that should be taken into account in determining whether outsourcing the internal audit (IA) function will adequately and effectively address this obligation. Fundamental considerations that should be taken into account in assessing and evaluating the alternative of outsourcing the IA function were formulated on the basis of the literature review performed. Subsequent to this relevant questions associated with these fundamental considerations were formulated. These questions boards or those charged with corporate governance should be focused on in assessing and evaluating the alternative of outsourcing the IA function. The fundamental considerations and relevant questions were then analysed by means of semi-structured interviews to access the validity and appropriateness of these fundamental considerations and relevant questions. The study concludes that the fundamental considerations formulated and relevant questions are valid and appropriate in assisting organisations in deciding on the most effective and efficient manner in which to staff their internal audit function and thereby comply with corporate governance legislation and corporate social responsibilities.Most interviewees believed that a degree of co-sourcing or partial outsourcing was the most beneficial practice in general. This is dependent, however, on an evaluation of all the pertinent considerations by each organisation.
- Full Text:
- Authors: Campbell, Errol
- Date: 2012-06-06
- Subjects: Corporate governance , Internal auditing - Contracting out
- Type: Mini-Dissertation
- Identifier: http://ujcontent.uj.ac.za8080/10210/376468 , uj:2500 , http://hdl.handle.net/10210/4953
- Description: M.Comm. , Corporate governance has become an important part of doing business today, especially in the aftermath of the massive corporate failures that have occurred in the recent past. Corporate governance legislation and corporate social responsibilities have placed pressure on companies to implement an internal audit function within their organisations. As such boards of directors (boards) have to decide whether they should incur the cost internally by implementing an in-house internal audit function and thereby employing more resources or pay an outsourced service provider to perform this function. This study looks at the fundamental considerations that should be taken into account in determining whether outsourcing the internal audit (IA) function will adequately and effectively address this obligation. Fundamental considerations that should be taken into account in assessing and evaluating the alternative of outsourcing the IA function were formulated on the basis of the literature review performed. Subsequent to this relevant questions associated with these fundamental considerations were formulated. These questions boards or those charged with corporate governance should be focused on in assessing and evaluating the alternative of outsourcing the IA function. The fundamental considerations and relevant questions were then analysed by means of semi-structured interviews to access the validity and appropriateness of these fundamental considerations and relevant questions. The study concludes that the fundamental considerations formulated and relevant questions are valid and appropriate in assisting organisations in deciding on the most effective and efficient manner in which to staff their internal audit function and thereby comply with corporate governance legislation and corporate social responsibilities.Most interviewees believed that a degree of co-sourcing or partial outsourcing was the most beneficial practice in general. This is dependent, however, on an evaluation of all the pertinent considerations by each organisation.
- Full Text:
A corporate governance framework for Sector Education and Training Authorities (SETAs)
- Authors: Barclay, Darion Jerome
- Date: 2012-07-19
- Subjects: Corporate governance , Sector Education and Training Authorities , Risk management , Compliance auditing , Occupational training
- Type: Thesis
- Identifier: uj:8842 , http://hdl.handle.net/10210/5254
- Description: D.Litt et Phil. , The establishment of Sector Education and Training Authorities (SETAs) was seen as a way of addressing the continued shortage of skilled professionals in order to ensure a competitive South African economy in the global environment. The SETAs attracted much media attention as a result of poor service delivery primarily attributed to poor corporate governance. Despite the many positive contributions by SETAs, they remain the most criticized entities in post-democratic South Africa. The study entails a description, explanation and assessment of the concepts corporate governance, risk management and compliance in SETAs. The legislative framework that underpins good corporate governance is identified and explained. The roles of the board and its fiduciary duties, and of the audit committee and the roles of executive management are described in order to ensure a clear understanding of each of them and a separation of each from the others. The concepts corporate governance, risk management and compliance are inseparable from the well-being of any organization. The board of an entity is ultimately accountable for the implementation of good corporate governance. Its role can be of value only if it is properly constituted, is functioning effectively and if its role is understood by all parties concerned. The manifestations of poor corporate governance include poor financial management, non-compliance with policies and procedures, lack of capacity building and the lack of a formalized nomination system to identify suitably qualified and experienced board members. By exercising corporate governance in an accountable and transparent manner, the most appropriate developmental policy objectives to sustainably develop a society by mobilizing and applying all available resources in the public and private sectors in the most efficient, efficient and democratic way will be achieved.
- Full Text:
- Authors: Barclay, Darion Jerome
- Date: 2012-07-19
- Subjects: Corporate governance , Sector Education and Training Authorities , Risk management , Compliance auditing , Occupational training
- Type: Thesis
- Identifier: uj:8842 , http://hdl.handle.net/10210/5254
- Description: D.Litt et Phil. , The establishment of Sector Education and Training Authorities (SETAs) was seen as a way of addressing the continued shortage of skilled professionals in order to ensure a competitive South African economy in the global environment. The SETAs attracted much media attention as a result of poor service delivery primarily attributed to poor corporate governance. Despite the many positive contributions by SETAs, they remain the most criticized entities in post-democratic South Africa. The study entails a description, explanation and assessment of the concepts corporate governance, risk management and compliance in SETAs. The legislative framework that underpins good corporate governance is identified and explained. The roles of the board and its fiduciary duties, and of the audit committee and the roles of executive management are described in order to ensure a clear understanding of each of them and a separation of each from the others. The concepts corporate governance, risk management and compliance are inseparable from the well-being of any organization. The board of an entity is ultimately accountable for the implementation of good corporate governance. Its role can be of value only if it is properly constituted, is functioning effectively and if its role is understood by all parties concerned. The manifestations of poor corporate governance include poor financial management, non-compliance with policies and procedures, lack of capacity building and the lack of a formalized nomination system to identify suitably qualified and experienced board members. By exercising corporate governance in an accountable and transparent manner, the most appropriate developmental policy objectives to sustainably develop a society by mobilizing and applying all available resources in the public and private sectors in the most efficient, efficient and democratic way will be achieved.
- Full Text:
Corporate governance within emerging entrepreneurs
- Authors: Ginindza, Lindiwe
- Date: 2012-08-21
- Subjects: Corporate governance , Small business - Management
- Type: Thesis
- Identifier: uj:2903 , http://hdl.handle.net/10210/6333
- Description: M.B.A. , The focus on small and medium sized enterprises in South Africa stems from the recognition throughout the world of the importance of small business to a nation's economy, particularly through their creation of additional employment opportunities. The slow growth in employment in the South African economy has accelerated the need for emerging entrepreneurs to play a stronger role in job creation, income generation and growth. These enterprises accounted for about 60% of total employment in 1997. The adoption of sound corporate governance practises is very significant for the continued success of small and medium enterprises. Enterprises must place a lot of emphasis on corporate governance in order to survive in the economy. Corporate governance is seen as enhancing return on capital through increased accountability. Corporate governance is good to have and also good for the continued success of an enterprise. The benefits to be derived from the adoption of sound corporate practises and conduct more than outweigh the costs of implementation. Good governance leads to competitive advantage in the market place, improved efficiency and effectiveness, increased shareholder value and increased market value. To determine the requirements that emerging entrepreneurs need to comply with in order to improve productivity, efficiency and credibility, a research study was conducted to investigate the perceptions and attitudes of the entrepreneurs towards corporate governance. In addition, the study also focused on the benefits to be derived by emerging entrepreneurs from the introduction of corporate governance and the suitable effectiveness criteria for corporate governance within emerging entrepreneurs. The research was limited to 40 small and medium sized enterprises within the Gauteng area, which is one of the 9 provinces in South Africa. The responses indicated that a majority of the entrepreneurs are ignorant of the subject of corporate governance. The ii few entrepreneurs who are familiar with corporate governance had different views or attitudes on the subject. The majority of the respondents, who responded positively, believe that there are a lot of benefits to be derived from the introduction of corporate governance within their enterprises. It is also interesting to note that some of the entrepreneurs who stated that they were ignorant of the subject of corporate governance have in fact implemented some of the recommendations as set out in the Code of corporate practises and conduct.
- Full Text:
- Authors: Ginindza, Lindiwe
- Date: 2012-08-21
- Subjects: Corporate governance , Small business - Management
- Type: Thesis
- Identifier: uj:2903 , http://hdl.handle.net/10210/6333
- Description: M.B.A. , The focus on small and medium sized enterprises in South Africa stems from the recognition throughout the world of the importance of small business to a nation's economy, particularly through their creation of additional employment opportunities. The slow growth in employment in the South African economy has accelerated the need for emerging entrepreneurs to play a stronger role in job creation, income generation and growth. These enterprises accounted for about 60% of total employment in 1997. The adoption of sound corporate governance practises is very significant for the continued success of small and medium enterprises. Enterprises must place a lot of emphasis on corporate governance in order to survive in the economy. Corporate governance is seen as enhancing return on capital through increased accountability. Corporate governance is good to have and also good for the continued success of an enterprise. The benefits to be derived from the adoption of sound corporate practises and conduct more than outweigh the costs of implementation. Good governance leads to competitive advantage in the market place, improved efficiency and effectiveness, increased shareholder value and increased market value. To determine the requirements that emerging entrepreneurs need to comply with in order to improve productivity, efficiency and credibility, a research study was conducted to investigate the perceptions and attitudes of the entrepreneurs towards corporate governance. In addition, the study also focused on the benefits to be derived by emerging entrepreneurs from the introduction of corporate governance and the suitable effectiveness criteria for corporate governance within emerging entrepreneurs. The research was limited to 40 small and medium sized enterprises within the Gauteng area, which is one of the 9 provinces in South Africa. The responses indicated that a majority of the entrepreneurs are ignorant of the subject of corporate governance. The ii few entrepreneurs who are familiar with corporate governance had different views or attitudes on the subject. The majority of the respondents, who responded positively, believe that there are a lot of benefits to be derived from the introduction of corporate governance within their enterprises. It is also interesting to note that some of the entrepreneurs who stated that they were ignorant of the subject of corporate governance have in fact implemented some of the recommendations as set out in the Code of corporate practises and conduct.
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The importance of effective strategic leadership in organisations
- Authors: Van Eeden, Cornelia Maria
- Date: 2012-09-06
- Subjects: Leadership , Human capital , Corporate culture , Strategic planning , Business ethics , Corporate governance
- Type: Mini-Dissertation
- Identifier: uj:9666 , http://hdl.handle.net/10210/7081
- Description: M.Comm. , This research is intended to describe the elements that underline and compromise strategic leadership. Having strategic leaders with substantive expertise in the firm's core functions and businesses is important to the effectiveness of a management team. A heterogenic management team is associated positively with innovation and strategic change and may force them to "think outside of the box" (Hitt et al.,2001:493). Key elements of strategic leadership is used to identify weaknesses and strengths within the organisation and explored. The type of effective strategic leadership that results in the successful implementation of strategies is exemplified by developing human capital through training to establish a strategic direction, fostering an effective culture, exploiting core competencies, using effective organisational control systems and establish ethical practices (Hitt et al., 2001: 509).
- Full Text:
- Authors: Van Eeden, Cornelia Maria
- Date: 2012-09-06
- Subjects: Leadership , Human capital , Corporate culture , Strategic planning , Business ethics , Corporate governance
- Type: Mini-Dissertation
- Identifier: uj:9666 , http://hdl.handle.net/10210/7081
- Description: M.Comm. , This research is intended to describe the elements that underline and compromise strategic leadership. Having strategic leaders with substantive expertise in the firm's core functions and businesses is important to the effectiveness of a management team. A heterogenic management team is associated positively with innovation and strategic change and may force them to "think outside of the box" (Hitt et al.,2001:493). Key elements of strategic leadership is used to identify weaknesses and strengths within the organisation and explored. The type of effective strategic leadership that results in the successful implementation of strategies is exemplified by developing human capital through training to establish a strategic direction, fostering an effective culture, exploiting core competencies, using effective organisational control systems and establish ethical practices (Hitt et al., 2001: 509).
- Full Text:
A holistic approach to information technology project management auditing
- Authors: Mukendi, John Nyabadi
- Date: 2012-10-25
- Subjects: Project management , Information technology projects - Management , Corporate governance
- Type: Thesis
- Identifier: uj:10446 , http://hdl.handle.net/10210/7911
- Description: M.Tech. (Information Technology) , Increasingly, more now than before, the corporate world has been paying more attention to the prominent topic of “governance”. The absence of governance in an organisation or ineffective governance has become synonymous with all that is wrong. It is regarded to be the root cause of all evils – not only in the corporate environment, but also in society. Following corporate scandals of recent years that have exposed corporate malpractices and mismanagement, corporate governance is increasingly being recognised worldwide as a best practice and an effective mechanism that not only promotes corporate efficiency, competitiveness and sustainability, but is also a tool for combating corporate corruption. The audit function is considered one of the main supporting pillars of corporate governance, as it plays an important role in helping management attain its business goals and strategic objectives. This is realised through a systematic and disciplined approach to evaluating and improving the effectiveness of the organisation’s system of internal control, risk management and governance processes. The failure of the audit function is said to have been one of the critical contributors to recent global corporate scandals. Robust auditing is believed to be the cornerstone of modern corporate governance. The use of auditing in project management processes increases the probability of project success. Using corporate governance as a best practice and audit as one of its sub-sets, this research study deals with the topical issue of failures in Information Technology (IT) projects. The study strives to address this problem by adopting a holistic approach to IT project management auditing that includes corporate governance principles over and above the traditional principles and processes for auditing IT projects. Over the past 15 to 20 years, the rate of failure of IT projects has changed little in continual surveys, showing that more than half of all IT projects overrun their schedules and budgets. This situation has continued in spite of new technologies, innovative methods, tools and different management methods. Although most organisations heavily rely on IT-enabled projects for competitive advantage, it is estimated that worldwide over $6.2 trillion is being wasted annually on IT project failures. One of the reasons for this situation has allegedly been the failure of project governance. Thus, the importance and added value of this research study lies in adopting a holistic approach to IT project management auditing. The study involves corporations and not government agencies or other institutions. The study adopts a qualitative research approach and uses semi-structured face-to-face interviews as the primary method for data collection. It is intended that this study fills a gap in the research literature on the topic.
- Full Text:
- Authors: Mukendi, John Nyabadi
- Date: 2012-10-25
- Subjects: Project management , Information technology projects - Management , Corporate governance
- Type: Thesis
- Identifier: uj:10446 , http://hdl.handle.net/10210/7911
- Description: M.Tech. (Information Technology) , Increasingly, more now than before, the corporate world has been paying more attention to the prominent topic of “governance”. The absence of governance in an organisation or ineffective governance has become synonymous with all that is wrong. It is regarded to be the root cause of all evils – not only in the corporate environment, but also in society. Following corporate scandals of recent years that have exposed corporate malpractices and mismanagement, corporate governance is increasingly being recognised worldwide as a best practice and an effective mechanism that not only promotes corporate efficiency, competitiveness and sustainability, but is also a tool for combating corporate corruption. The audit function is considered one of the main supporting pillars of corporate governance, as it plays an important role in helping management attain its business goals and strategic objectives. This is realised through a systematic and disciplined approach to evaluating and improving the effectiveness of the organisation’s system of internal control, risk management and governance processes. The failure of the audit function is said to have been one of the critical contributors to recent global corporate scandals. Robust auditing is believed to be the cornerstone of modern corporate governance. The use of auditing in project management processes increases the probability of project success. Using corporate governance as a best practice and audit as one of its sub-sets, this research study deals with the topical issue of failures in Information Technology (IT) projects. The study strives to address this problem by adopting a holistic approach to IT project management auditing that includes corporate governance principles over and above the traditional principles and processes for auditing IT projects. Over the past 15 to 20 years, the rate of failure of IT projects has changed little in continual surveys, showing that more than half of all IT projects overrun their schedules and budgets. This situation has continued in spite of new technologies, innovative methods, tools and different management methods. Although most organisations heavily rely on IT-enabled projects for competitive advantage, it is estimated that worldwide over $6.2 trillion is being wasted annually on IT project failures. One of the reasons for this situation has allegedly been the failure of project governance. Thus, the importance and added value of this research study lies in adopting a holistic approach to IT project management auditing. The study involves corporations and not government agencies or other institutions. The study adopts a qualitative research approach and uses semi-structured face-to-face interviews as the primary method for data collection. It is intended that this study fills a gap in the research literature on the topic.
- Full Text:
The governance of ethics in the profession of industrial psychology in South Africa : the roles of regulatory bodies and professional associations
- Baloyi, Patricia Gaongalelwe
- Authors: Baloyi, Patricia Gaongalelwe
- Date: 2012-10-25
- Subjects: Corporate governance , Industrial psychology , Industrial psychologists - Professional ethics , Professional ethics , Trade associations
- Type: Mini-Dissertation
- Identifier: uj:10445 , http://hdl.handle.net/10210/7910
- Description: M.Phil. , Governance comprises different interrelated functions and activities which are to be clearly defined and allocated towards a responsible person / entity. The aim of the study was to explore the perceptions of the Professional Board for Psychology of the Health Professions Council of South Africa and the two professional associations (Psychological Society of South Africa and Society for Industrial and Organisational Psychology of South Africa) on how they define their different roles in governing ethics in the profession of industrial psychology. Qualitative content analysis was used to analyse data collected through semi-structured interviews from nine participants with three members from each of these organisations who were considered to be experts in the area of ethics governance. The outcome of this study suggests that the regulatory body which is the Professional Board for Psychology, the two professional associations together with other identified role players have a role to play in governing ethics of industrial psychologists. The results also highlighted the need for these parties to collaborate in advancing their roles in striving towards higher levels of ethics within the profession of industrial psychology.
- Full Text:
- Authors: Baloyi, Patricia Gaongalelwe
- Date: 2012-10-25
- Subjects: Corporate governance , Industrial psychology , Industrial psychologists - Professional ethics , Professional ethics , Trade associations
- Type: Mini-Dissertation
- Identifier: uj:10445 , http://hdl.handle.net/10210/7910
- Description: M.Phil. , Governance comprises different interrelated functions and activities which are to be clearly defined and allocated towards a responsible person / entity. The aim of the study was to explore the perceptions of the Professional Board for Psychology of the Health Professions Council of South Africa and the two professional associations (Psychological Society of South Africa and Society for Industrial and Organisational Psychology of South Africa) on how they define their different roles in governing ethics in the profession of industrial psychology. Qualitative content analysis was used to analyse data collected through semi-structured interviews from nine participants with three members from each of these organisations who were considered to be experts in the area of ethics governance. The outcome of this study suggests that the regulatory body which is the Professional Board for Psychology, the two professional associations together with other identified role players have a role to play in governing ethics of industrial psychologists. The results also highlighted the need for these parties to collaborate in advancing their roles in striving towards higher levels of ethics within the profession of industrial psychology.
- Full Text:
Adherence to the spirit of corporate governance : the ethics of executive remuneration
- Authors: Gevers, Elke
- Date: 2013-07-11
- Subjects: Executives - Professional ethics , Corporate governance , Executives - Salaries, etc.
- Type: Thesis
- Identifier: uj:7611 , http://hdl.handle.net/10210/8477
- Description: M.Comm. (Industrial Psychology) , With the implementation of King III in 2010 and the promulgation of the new Companies Act in 2011, the corporate governance landscape in South Africa was irrevocably changed. Simultaneously, there was an increase in the protestations against the perceived excesses of executive1 remuneration packages. The question posed in this research study was what does adherence to the spirit of corporate governance with regard to executive remuneration entail? The literature study explores the perceived separation between ownership and control, as well as attempts at controlling this separation via structured executive remuneration packages. It further provides an overview of the relative efficacy of voluntary codes and compulsory codes. Various methods of determining executive remuneration are investigated and the possible shortcomings of each are identified. Sixteen semi-structured, in-depth interviews, equally divided amongst four interest groups in the field of executive remuneration, were conducted. A content analysis of the qualitative data that emerged from the interviews resulted in 39 first-order themes that were then iterated to 11 second-order themes. These second-order themes were categorised into two sets, namely five that are indicative of behaviour in support of adherence to the spirit of corporate governance with regard to executive remuneration, and six that are indicative of behaviour that undermines the spirit of corporate governance in this regard. The five themes indicative of behaviour in support of adherence to the spirit of corporate governance were: problem recognition, sustainable development, embracing governance, remuneration management competence, and ethical intent. The six themes found to indicate behaviour that undermines adherence to the spirit of corporate governance with regard to executive remuneration were: shareholder appeasement, misrepresentation, elitism, justification, arrogance, and intentional amorality. It emanated from the findings that greater social debate should be stimulated on how ethics can be brought into the domain of executive remuneration. A potentially important facilitator of such debate could be tertiary education institutions responsible for management education integrating the ethics of executive remuneration in curricula. It is further recommended boards, who are tasked with the governance of their organisations, be made aware of the behavioural manifestations that support or undermine adherence to the spirit of governance as it relates to executive remuneration. Remuneration consultants could also benefit from these findings, and could assist organisations to design fair and responsible systems of remuneration for executives and senior employees.
- Full Text:
- Authors: Gevers, Elke
- Date: 2013-07-11
- Subjects: Executives - Professional ethics , Corporate governance , Executives - Salaries, etc.
- Type: Thesis
- Identifier: uj:7611 , http://hdl.handle.net/10210/8477
- Description: M.Comm. (Industrial Psychology) , With the implementation of King III in 2010 and the promulgation of the new Companies Act in 2011, the corporate governance landscape in South Africa was irrevocably changed. Simultaneously, there was an increase in the protestations against the perceived excesses of executive1 remuneration packages. The question posed in this research study was what does adherence to the spirit of corporate governance with regard to executive remuneration entail? The literature study explores the perceived separation between ownership and control, as well as attempts at controlling this separation via structured executive remuneration packages. It further provides an overview of the relative efficacy of voluntary codes and compulsory codes. Various methods of determining executive remuneration are investigated and the possible shortcomings of each are identified. Sixteen semi-structured, in-depth interviews, equally divided amongst four interest groups in the field of executive remuneration, were conducted. A content analysis of the qualitative data that emerged from the interviews resulted in 39 first-order themes that were then iterated to 11 second-order themes. These second-order themes were categorised into two sets, namely five that are indicative of behaviour in support of adherence to the spirit of corporate governance with regard to executive remuneration, and six that are indicative of behaviour that undermines the spirit of corporate governance in this regard. The five themes indicative of behaviour in support of adherence to the spirit of corporate governance were: problem recognition, sustainable development, embracing governance, remuneration management competence, and ethical intent. The six themes found to indicate behaviour that undermines adherence to the spirit of corporate governance with regard to executive remuneration were: shareholder appeasement, misrepresentation, elitism, justification, arrogance, and intentional amorality. It emanated from the findings that greater social debate should be stimulated on how ethics can be brought into the domain of executive remuneration. A potentially important facilitator of such debate could be tertiary education institutions responsible for management education integrating the ethics of executive remuneration in curricula. It is further recommended boards, who are tasked with the governance of their organisations, be made aware of the behavioural manifestations that support or undermine adherence to the spirit of governance as it relates to executive remuneration. Remuneration consultants could also benefit from these findings, and could assist organisations to design fair and responsible systems of remuneration for executives and senior employees.
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The relation between sustainability performance and the structure and composition of the board of directors in the JSE top companies
- Authors: Fourie, Saretha Sara
- Date: 2013-12-09
- Subjects: Corporate governance , JSE Securities Exchange South Africa , Quality control
- Type: Thesis
- Identifier: uj:7832 , http://hdl.handle.net/10210/8725
- Description: M.Comm. (Financial Management) , Our planet is getting smaller and older because the population is growing by the second and our resources and means of sustaining life are getting depleted. Companies need to rethink their strategy and business models to do no harm to the environment and society. The board of directors, as custodians of corporate governance, are responsible to direct their corporations towards sustainability performance. This has implications for the manner in which the board act and organise themselves. This study explores whether the board characteristics of sustainability performing companies differs from non-performing companies in terms of the gender; ethnicity; age; affiliation and the background of the directors at specified points in time namely 2004, 2007 and 2010 and how these board characteristics evolved over the specified period. The results should contribute to obtaining an understanding of how boards in South Africa are organising themselves in practice to enhance the sustainability performance of their companies. A comparative analysis using cross sectional data found that companies embracing sustainability performance have significantly more directors with non-traditional backgrounds on their board. A trend analysis using longitudinal data found that sustainability performing as well as nonperforming companies is becoming more diverse. Findings from this study provides practical guidance to companies wishing to integrate sustainability into their governance structures in that companies should consider recruiting directors with non-traditional backgrounds.
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- Authors: Fourie, Saretha Sara
- Date: 2013-12-09
- Subjects: Corporate governance , JSE Securities Exchange South Africa , Quality control
- Type: Thesis
- Identifier: uj:7832 , http://hdl.handle.net/10210/8725
- Description: M.Comm. (Financial Management) , Our planet is getting smaller and older because the population is growing by the second and our resources and means of sustaining life are getting depleted. Companies need to rethink their strategy and business models to do no harm to the environment and society. The board of directors, as custodians of corporate governance, are responsible to direct their corporations towards sustainability performance. This has implications for the manner in which the board act and organise themselves. This study explores whether the board characteristics of sustainability performing companies differs from non-performing companies in terms of the gender; ethnicity; age; affiliation and the background of the directors at specified points in time namely 2004, 2007 and 2010 and how these board characteristics evolved over the specified period. The results should contribute to obtaining an understanding of how boards in South Africa are organising themselves in practice to enhance the sustainability performance of their companies. A comparative analysis using cross sectional data found that companies embracing sustainability performance have significantly more directors with non-traditional backgrounds on their board. A trend analysis using longitudinal data found that sustainability performing as well as nonperforming companies is becoming more diverse. Findings from this study provides practical guidance to companies wishing to integrate sustainability into their governance structures in that companies should consider recruiting directors with non-traditional backgrounds.
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Media-reported corporate governance transgressions in broad-based black economic empowerment deals in the South African mining sector
- Authors: Thomas, Adèle
- Date: 2014
- Subjects: Corporate governance , Business ethics , Mining sector - South Africa , Black economic empowerment - South Africa , Mining industry - Corrupt practices - South Africa
- Type: Article
- Identifier: uj:5501 , ISSN 09763600 , http://hdl.handle.net/10210/13665
- Description: The study explored the nature of publically identified corporate governance transgressions relating to deals designed to promote black economic empowerment (BEE) at 22 South African mining companies. A review of South African English language newspaper articles was undertaken for the period 1 January 2010 to 31 December 2011. Reported transgressions were assessed against a framework developed from relevant codes and legislation. Political interference/nepotism/fronting was the most-cited category of behaviour promoting governance transgressions, followed by fraud/ structuring of controversial BEE deals, and mismanagement/negligence. Public concern about governance of BEE deals in the mining sector and, accordingly, about the contribution of BEE to the broad socio-economic upliftment of historically disadvantaged South Africans, is highlighted.
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- Authors: Thomas, Adèle
- Date: 2014
- Subjects: Corporate governance , Business ethics , Mining sector - South Africa , Black economic empowerment - South Africa , Mining industry - Corrupt practices - South Africa
- Type: Article
- Identifier: uj:5501 , ISSN 09763600 , http://hdl.handle.net/10210/13665
- Description: The study explored the nature of publically identified corporate governance transgressions relating to deals designed to promote black economic empowerment (BEE) at 22 South African mining companies. A review of South African English language newspaper articles was undertaken for the period 1 January 2010 to 31 December 2011. Reported transgressions were assessed against a framework developed from relevant codes and legislation. Political interference/nepotism/fronting was the most-cited category of behaviour promoting governance transgressions, followed by fraud/ structuring of controversial BEE deals, and mismanagement/negligence. Public concern about governance of BEE deals in the mining sector and, accordingly, about the contribution of BEE to the broad socio-economic upliftment of historically disadvantaged South Africans, is highlighted.
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A critical analysis of the capacity of South African non-executive directors : a model for best practice in South Africa
- Authors: Vandiar, Theroshen
- Date: 2015
- Subjects: Auditing , Corporate governance , Business ethics
- Language: English
- Type: Doctoral (Thesis)
- Identifier: http://hdl.handle.net/10210/54643 , uj:16243
- Description: Abstract: Over the last century, significant events have occurred in commerce that shaped the way in which business is conducted and companies managed. The well-known global scandals of the 21st century reopened the debate about mechanisms of responsibility, accountability and governance in business. Specifically, focus shifted to non-executive directors with an expectation for them to represent the best interest of the stakeholders. Research emphasised that the shareholders and individuals, who are potential investors, look to non-executive directors to restore confidence in a troubled market environment. This is also applicable in the South African context, specifically since the country is in a unique era after introducing majority rule democracy in 1994. South Africa needs strong economic growth to address the imbalance in wealth distribution and alleviate poverty. Economic growth is a prerequisite for political and social stability. A prerequisite for economic growth is improved performance of a strong, healthy and sound business sector. Good business is premised on optimal governance performance of the boards of directors of companies. This study therefore investigates the profile of non-executive directors in South Africa, since the majority of the board of directors is constituted by them. It takes into account the added dimension of BEE policies and the requirements of the King III report on corporate governance. The objective of the study is to develop a model of an ideal non-executive director in South Africa. This was done through a comprehensive literature study of directors and empirical testing at large listed companies in South Africa. The outcome of this study is a model that identifies and quantifies the importance of attributes constituting the ideal non-executive director in South Africa. It also makes recommendations relating to best practice non-executive directorships in South Africa. The findings make a valuable contribution to the existing body of knowledge, since it is the first dedicated analysis of the requirements and attributes of South African non-executive directors. This will allow for a means upon which companies can assess potential candidates for non-executive directorships and identify potential shortcomings of existing non-executive directors, which could be addressed by means of training/orientation programs. , D.Phil. (Auditing)
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- Authors: Vandiar, Theroshen
- Date: 2015
- Subjects: Auditing , Corporate governance , Business ethics
- Language: English
- Type: Doctoral (Thesis)
- Identifier: http://hdl.handle.net/10210/54643 , uj:16243
- Description: Abstract: Over the last century, significant events have occurred in commerce that shaped the way in which business is conducted and companies managed. The well-known global scandals of the 21st century reopened the debate about mechanisms of responsibility, accountability and governance in business. Specifically, focus shifted to non-executive directors with an expectation for them to represent the best interest of the stakeholders. Research emphasised that the shareholders and individuals, who are potential investors, look to non-executive directors to restore confidence in a troubled market environment. This is also applicable in the South African context, specifically since the country is in a unique era after introducing majority rule democracy in 1994. South Africa needs strong economic growth to address the imbalance in wealth distribution and alleviate poverty. Economic growth is a prerequisite for political and social stability. A prerequisite for economic growth is improved performance of a strong, healthy and sound business sector. Good business is premised on optimal governance performance of the boards of directors of companies. This study therefore investigates the profile of non-executive directors in South Africa, since the majority of the board of directors is constituted by them. It takes into account the added dimension of BEE policies and the requirements of the King III report on corporate governance. The objective of the study is to develop a model of an ideal non-executive director in South Africa. This was done through a comprehensive literature study of directors and empirical testing at large listed companies in South Africa. The outcome of this study is a model that identifies and quantifies the importance of attributes constituting the ideal non-executive director in South Africa. It also makes recommendations relating to best practice non-executive directorships in South Africa. The findings make a valuable contribution to the existing body of knowledge, since it is the first dedicated analysis of the requirements and attributes of South African non-executive directors. This will allow for a means upon which companies can assess potential candidates for non-executive directorships and identify potential shortcomings of existing non-executive directors, which could be addressed by means of training/orientation programs. , D.Phil. (Auditing)
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The relationship between firm size and performance
- Mazhinduka, Tinodiwanashe Adrian
- Authors: Mazhinduka, Tinodiwanashe Adrian
- Date: 2015
- Subjects: Business enterprises - Size , Performance - Management , Risk , Financial leverage , Corporate governance
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/54656 , uj:16244
- Description: Abstract: The impact of firm size on performance of a firm has been widely debated. There is the view that large firms are able to outperform smaller competitors because of economies of scale. Harsh economic conditions have, however, led to a number of large firms collapsing. Advocates of small firms have noted that the knowledge of niche markets and unique offerings have allowed small firms to remain competitive. This study investigates whether there exists a relationship between firm size and return on assets. To supplement the size variable, the study also considered control variables associated with firm size to determine how they influence the relationship between firm size and return on assets. The study considered a sample of firms in the Industrial Goods and Services sector listed on the JSE to examine the nature of the relationship between firm size and performance, during the period 2004 to 2013. Market capitalisation was used as measure for firm size and return on assets as a measure of firm performance. The study data was analysed by means of a comparative analysis applying descriptive statistics, correlation analysis and a regression analysis. The findings from the correlation and regression analyses indicate that firm size has no influence on firm performance when the combined sample was investigated. However, the results indicate that for small listed firms, firm size has a moderate positive influence on firm performance. For large firms, firm size has no influence on firm performance. The results of the study will be useful for management to focus their efforts on significant variables that influence return on assets. , M.Com. (Financial Management)
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- Authors: Mazhinduka, Tinodiwanashe Adrian
- Date: 2015
- Subjects: Business enterprises - Size , Performance - Management , Risk , Financial leverage , Corporate governance
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/54656 , uj:16244
- Description: Abstract: The impact of firm size on performance of a firm has been widely debated. There is the view that large firms are able to outperform smaller competitors because of economies of scale. Harsh economic conditions have, however, led to a number of large firms collapsing. Advocates of small firms have noted that the knowledge of niche markets and unique offerings have allowed small firms to remain competitive. This study investigates whether there exists a relationship between firm size and return on assets. To supplement the size variable, the study also considered control variables associated with firm size to determine how they influence the relationship between firm size and return on assets. The study considered a sample of firms in the Industrial Goods and Services sector listed on the JSE to examine the nature of the relationship between firm size and performance, during the period 2004 to 2013. Market capitalisation was used as measure for firm size and return on assets as a measure of firm performance. The study data was analysed by means of a comparative analysis applying descriptive statistics, correlation analysis and a regression analysis. The findings from the correlation and regression analyses indicate that firm size has no influence on firm performance when the combined sample was investigated. However, the results indicate that for small listed firms, firm size has a moderate positive influence on firm performance. For large firms, firm size has no influence on firm performance. The results of the study will be useful for management to focus their efforts on significant variables that influence return on assets. , M.Com. (Financial Management)
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Die integrering van die finansiële bestuursfunksie in 'n groot maatskappy
- Authors: Van der Merwe, S.R.
- Date: 2015-09-28
- Subjects: Corporations - Finance , Corporate governance
- Type: Thesis
- Identifier: uj:14205 , http://hdl.handle.net/10210/14651
- Description: M.Com. , Please refer to full text to view abstract
- Full Text:
- Authors: Van der Merwe, S.R.
- Date: 2015-09-28
- Subjects: Corporations - Finance , Corporate governance
- Type: Thesis
- Identifier: uj:14205 , http://hdl.handle.net/10210/14651
- Description: M.Com. , Please refer to full text to view abstract
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Risk management best practices in the Department of Trade and Industry
- Authors: Joel, Carmen
- Date: 2016
- Subjects: Risk management , Corporate governance
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/225695 , uj:22801
- Description: M.A. , Abstract: This study focused on best practice risk management frameworks (RMFs) for the sustainable implementation of risk management in the public sector, with specific reference to the role of the Department of Trade and Industry (dti). Risk management entails resources, planning, arranging, and controlling to reduce the impact of possible risks to a manageable level. The main research question addressed by this study is: What is the nature of the risk management process and which practical actions can be taken to improve risk management in the dti in order to ensure sustainable service delivery? The goal of this best practice approach to risk management as a higher-order management function is to create an industry that will reflect on how events may influence organisational objectives through the process of identifying, assessing reducing, eliminating or mitigating and monitoring the impact and likelihood of actual or prospective risks through implementing new or improved assessment practices and internal controls. As organisations increasingly focus on establishing or maturing their risk management applications, risk managers experience a range of challenges – from the start of the risk management process to ensure that the right decisions and processes are carried out, to managing the complex involvement of many different functional stakeholders to fulfil an organisation’s mission, achieve its objectives, and to add value. Many of the problems encountered while establishing or maturing a risk management approach can be prevented by using a sound risk management methodology and by compliance with the regulatory and policy frameworks. This study focused on the improvement of risk management in general and the dti in particular, and made proposals for best practice methodologies and mechanisms for effective and efficient risk management systems to develop resilience against unforeseen risks. The proposed best practice mechanisms can be applied as good governance mechanisms to mitigate risk. A qualitative research methodology was followed, whereby conceptual and documentary content analyses and benchmarking were applied as research techniques. It was based on primary and secondary sources of information which covered a wide spectrum of themes, including core regulatory and policy frameworks, concepts, theories, approaches, and the variables which influence risk management in both international and South African contexts...
- Full Text:
- Authors: Joel, Carmen
- Date: 2016
- Subjects: Risk management , Corporate governance
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/225695 , uj:22801
- Description: M.A. , Abstract: This study focused on best practice risk management frameworks (RMFs) for the sustainable implementation of risk management in the public sector, with specific reference to the role of the Department of Trade and Industry (dti). Risk management entails resources, planning, arranging, and controlling to reduce the impact of possible risks to a manageable level. The main research question addressed by this study is: What is the nature of the risk management process and which practical actions can be taken to improve risk management in the dti in order to ensure sustainable service delivery? The goal of this best practice approach to risk management as a higher-order management function is to create an industry that will reflect on how events may influence organisational objectives through the process of identifying, assessing reducing, eliminating or mitigating and monitoring the impact and likelihood of actual or prospective risks through implementing new or improved assessment practices and internal controls. As organisations increasingly focus on establishing or maturing their risk management applications, risk managers experience a range of challenges – from the start of the risk management process to ensure that the right decisions and processes are carried out, to managing the complex involvement of many different functional stakeholders to fulfil an organisation’s mission, achieve its objectives, and to add value. Many of the problems encountered while establishing or maturing a risk management approach can be prevented by using a sound risk management methodology and by compliance with the regulatory and policy frameworks. This study focused on the improvement of risk management in general and the dti in particular, and made proposals for best practice methodologies and mechanisms for effective and efficient risk management systems to develop resilience against unforeseen risks. The proposed best practice mechanisms can be applied as good governance mechanisms to mitigate risk. A qualitative research methodology was followed, whereby conceptual and documentary content analyses and benchmarking were applied as research techniques. It was based on primary and secondary sources of information which covered a wide spectrum of themes, including core regulatory and policy frameworks, concepts, theories, approaches, and the variables which influence risk management in both international and South African contexts...
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Integrated reporting practices of state-owned entitites
- Authors: Morake, Kabelo Modise
- Date: 2017
- Subjects: Financial statements , Corporate governance , Corporation reports
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/245905 , uj:25479
- Description: M.Com. , Abstract: The publication of the King III report on Corporate Governance for South Africa (King III) in March 2010 and the release of the Integrated Reporting Framework (IR Framework ) in 2013, played a very important role and exerted a significant influence in sanctioning for South African entities to incorporate and champion the idea of integrated reporting (IR) whereby they must report on the strategies, corporate governance, risk management functions, financial sustainability and performance as well as the ability of the entity to create value and sustain it over time. Many significant decisions are made by the stakeholders or users of the current annual reports insofar as they help them to understand an entity’s potential to create value and operate sustainably in the foreseeable future. As a result, the information that is published in these reports is important in enabling users to make informed decisions. However, the same stakeholders also question the relevance and reliability of such reports in imparting adequate information to make sound investment decisions. These corporate reporting challenges, amongst many others, have highlighted the need for a significantly more comprehensive and more integrated corporate reporting model which would merge both financial and non-financial information in a meaningful manner. With the advent of democracy in South Africa in 1994, regulatory reforms such as the Public Finance Management Act (PFMA, 1999), the new Companies Act No 71 of 2008 and King III were instituted in order to improve decision-making processes and corporate governance requirements for all entities, including state-owned entities (SOEs). SOEs primarily assist the state to fulfil the mandate of growing the economy by providing efficient, reliable and affordable services in critical sectors, such as electricity supply, water, health services, transport infrastructure and school facilities. They also make infrastructure improvements that are economically and socially critical to the welfare of the nation. Against this background, and considering the impact that SOEs have on the South African economy, there is a strategic need for an integrated way of reporting the performance and results of SOEs to meet the information requirements of all stakeholders in order to make them understand what drives...
- Full Text:
- Authors: Morake, Kabelo Modise
- Date: 2017
- Subjects: Financial statements , Corporate governance , Corporation reports
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/245905 , uj:25479
- Description: M.Com. , Abstract: The publication of the King III report on Corporate Governance for South Africa (King III) in March 2010 and the release of the Integrated Reporting Framework (IR Framework ) in 2013, played a very important role and exerted a significant influence in sanctioning for South African entities to incorporate and champion the idea of integrated reporting (IR) whereby they must report on the strategies, corporate governance, risk management functions, financial sustainability and performance as well as the ability of the entity to create value and sustain it over time. Many significant decisions are made by the stakeholders or users of the current annual reports insofar as they help them to understand an entity’s potential to create value and operate sustainably in the foreseeable future. As a result, the information that is published in these reports is important in enabling users to make informed decisions. However, the same stakeholders also question the relevance and reliability of such reports in imparting adequate information to make sound investment decisions. These corporate reporting challenges, amongst many others, have highlighted the need for a significantly more comprehensive and more integrated corporate reporting model which would merge both financial and non-financial information in a meaningful manner. With the advent of democracy in South Africa in 1994, regulatory reforms such as the Public Finance Management Act (PFMA, 1999), the new Companies Act No 71 of 2008 and King III were instituted in order to improve decision-making processes and corporate governance requirements for all entities, including state-owned entities (SOEs). SOEs primarily assist the state to fulfil the mandate of growing the economy by providing efficient, reliable and affordable services in critical sectors, such as electricity supply, water, health services, transport infrastructure and school facilities. They also make infrastructure improvements that are economically and socially critical to the welfare of the nation. Against this background, and considering the impact that SOEs have on the South African economy, there is a strategic need for an integrated way of reporting the performance and results of SOEs to meet the information requirements of all stakeholders in order to make them understand what drives...
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An analysis and assessment of integrated reporting disclosure : a millennials’ perspective
- Authors: Dama, Aziza
- Date: 2018
- Subjects: Corporation reports , Sustainable development reports , Social responsibility of business , Corporate governance , Employees - Reporting to , Disclosure of information , Disclosure in accounting
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/295793 , uj:32218
- Description: Abstract: The general public, and in particular, the millennial generation a new generation of stakeholders is becoming more aware of environmental and social issues and are demanding greater social responsibility from companies. Millennials are interested in sustainability, environmental and social responsibility and corporate governance issues and they expect companies ‘to improve society’. Although there has been a recent shift to better sustainability and integrated reporting, it appears that the current reporting practices of companies may not meet the expectations of the millennial generation, seeing that millennials still have negative perceptions about companies. While sustainability and integrated reporting have been studied widely, very little assessment has been made of whether companies are providing sufficient disclosure that is relevant to millennials. The objective of this research is to analyse disclosures of sustainability, environmental and social responsibility practices and goals and corporate governance practices and the manner in which these disclosures were presented in order to assess whether adequate disclosure, relevant to millennials’ expectations of companies, has been provided. A qualitative research strategy was followed. A systematic, empirical review was conducted by means of a content analysis using a basic checklist. The most recent financial years’ integrated reports of the companies in the sample were examined, as well as their websites and social media accounts. The results indicate that there are areas for improvement in all the disclosure categories examined and that companies’ use of their websites and social media is inadequate to cater for millennials’ information requirements. Only approximately one third of the companies studied are expected to attract millennials as investors, consumers, or potential employees (i.e. both shareholders and stakeholders) and therefore integrated reporting disclosure needs to be improved in order to make companies more appealing to them. This study offers a new perspective on current integrated reporting practices and provides guidance on integrated reporting and the preparation of integrated reports going forward. , M.Com. (International Accounting)
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- Authors: Dama, Aziza
- Date: 2018
- Subjects: Corporation reports , Sustainable development reports , Social responsibility of business , Corporate governance , Employees - Reporting to , Disclosure of information , Disclosure in accounting
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/295793 , uj:32218
- Description: Abstract: The general public, and in particular, the millennial generation a new generation of stakeholders is becoming more aware of environmental and social issues and are demanding greater social responsibility from companies. Millennials are interested in sustainability, environmental and social responsibility and corporate governance issues and they expect companies ‘to improve society’. Although there has been a recent shift to better sustainability and integrated reporting, it appears that the current reporting practices of companies may not meet the expectations of the millennial generation, seeing that millennials still have negative perceptions about companies. While sustainability and integrated reporting have been studied widely, very little assessment has been made of whether companies are providing sufficient disclosure that is relevant to millennials. The objective of this research is to analyse disclosures of sustainability, environmental and social responsibility practices and goals and corporate governance practices and the manner in which these disclosures were presented in order to assess whether adequate disclosure, relevant to millennials’ expectations of companies, has been provided. A qualitative research strategy was followed. A systematic, empirical review was conducted by means of a content analysis using a basic checklist. The most recent financial years’ integrated reports of the companies in the sample were examined, as well as their websites and social media accounts. The results indicate that there are areas for improvement in all the disclosure categories examined and that companies’ use of their websites and social media is inadequate to cater for millennials’ information requirements. Only approximately one third of the companies studied are expected to attract millennials as investors, consumers, or potential employees (i.e. both shareholders and stakeholders) and therefore integrated reporting disclosure needs to be improved in order to make companies more appealing to them. This study offers a new perspective on current integrated reporting practices and provides guidance on integrated reporting and the preparation of integrated reports going forward. , M.Com. (International Accounting)
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