CGF ARTICLES, OPINIONS & EDITORIALS
By Glen Talbot(CA)SA, Travers Cape (CA)SA and peer viewed by Jené Palmer CA(SA): CGF Lead Independent Consultants
If we have both internal and external auditors, we have combined assurance, right? Wrong!
For the board of directors to claim that they have discharged their obligations to implement a Combined Assurance Model requires much more than just the appointment of internal and external auditors.
By Terrance M. Booysen and peer reviewed by Jene’ Palmer CA(SA) (CGF Lead Independent Consultant)
A plethora of corporate governance codes has been written across the world, and in spite of their recommendations which inter alia seek to protect stakeholder interests and shareholder value, many governance failures and organisational collapses continue seemingly unabated.
By Stephen Simmonds (Director: SynergyGRC) and peer reviewed by Terrance M. Booysen (Director: CGF Research Institute)
In a world where the interconnected and constantly changing relationships between financial, social and environmental issues are becoming more evident, businesses that remain unaware of their impacts and dependencies on their non-financial relationships attract unnecessary risk. Indeed, these organisations also fail to recognise new opportunities for efficiency, growth, resilience and development.
CGF is delighted to welcome Travers Cape as a Lead Independent Consultant to our company. Travers has acquired a wealth of experience in senior financial management positions and fulfilled various strategic roles within multinational and local businesses. Being adept at analysing facts, figures and similar detail, Travers will support our clients in the application and verification of their combined assurance processes, including the associated functions that are linked in their annual integrated reports.
We are pleased to welcome Glen Talbot as the newest member to join CGF’s team of Lead Independent Consultants. Glen has acquired a wealth of internal audit experience over the last 24 years in various industry sectors including the Financial Services Sector, Public Entities, Media Broadcasting and the Motor Industry. Glen has a keen interest in performing governance assessments with reference to the Corporate Governance Framework®, more especially in the areas of internal audit and combined assurance.
By Terrance M. Booysen and peer reviewed by Jené Palmer CA(SA) (CGF Lead Independent Consultant)
The recent resignations of the CEOs of Eskom and South African Airways have again focussed the spotlight on board performance and effectiveness. Inevitably, the critical question arises: why are these CEOs really leaving? In considering the answer to this question one must include a review of the board’s composition and the extent to which the overall ‘health’ of the board may have influenced any decision to leave or not leave the organisation.
By Jené Palmer CA(SA) (CGF Lead Independent Consultant) and peer reviewed by Terrance M. Booysen
Visionary leaders do not underestimate the power of the Corporate Governance Framework® in driving organisational culture. These leaders appreciate the importance of a governance framework in nurturing sustainability by driving values-based decision-making to “play the long game”.
By Lucien Caron (CGF Lead Independent Consultant) and peer reviewed by Terrance M. Booysen
An experienced board member will fully appreciate the various mechanisms contained within the organisation’s Memorandum of Incorporation (‘MOI’) that can be altered to best suit the environment within which the company operates. More often than not, the MOI is trivialized as simply a ‘founding document’ of the company and once approved, it is filed and gathers dust. However, over-looking the importance of the MOI -- which contains information about the core elements of the organisation’s governance -- amounts to an injustice to the nature and intent of this document, not least also the company and its stakeholders.
By Terrance M. Booysen and peer reviewed by Kerry Gantley (Partner: Cowan-Harper-Madikizela Attorneys)
We all know that hate speech and free speech are entirely different concepts, yet in South Africa what you can and cannot say as a responsible citizen or public figure remains a divisive issue.
Vicki Momberg, Adam Catzevelos, Penny Sparrow, Kessie Nair, Velaphi Kumalo, Julius Malema, Edward Zuma and Andile Mngxitama are all recent examples of people from different ethnic backgrounds, whether as ordinary citizens or public figures, who have either fallen foul of or perceived to have fallen foul of hate speech laws.
By Terrance M. Booysen and peer reviewed by At van Rooy (KISCH IP: Director and Patent Attorney)
When boards of directors gather to discuss the top risks of an organisation, it may entail matters such as structurally high unemployment, labour unrest, exchange rate volatility, political uncertainty, unmanageable fraud and corruption, threats of new market entrants or even product stagnation.