CGF ARTICLES, OPINIONS & EDITORIALS
By Junadi Jooste (CGF: Lead Independent Consultant) and peer reviewed by Jené Palmer (CGF: Director)
Corporate failures result from poor governance. There are a multitude of reasons for poor governance, but at the heart lies the composition and effectiveness of the board. Clearly, it is time for the Nominations Committee to take a stronger and more definitive role in ensuring the long-term health of the board and thereby the organisation.
As one of the country’s foremost criminal authorities in the fraud, theft, forgery and corruption arena -- known generally as white-collar crime -- David Loxton (BComm, LLB & MBA, UCT) is renowned for his legal knowledge and experience when it comes to investigating these crimes which are perpetuated by some of the largest criminal syndicates who are often intricately connected both locally and internationally. However, before David became highly sought after as a specialist attorney in white-collar crime, he spent several years ‘cutting his teeth’ as a state prosecutor in Cape Town and Pretoria, where he prosecuted a complete range of “street crimes” including murder, rape, robbery and drug-dealing.
By Terrance M. Booysen (CGF: Director) and peer reviewed by Kerry Gantley (Cowan-Harper Attorneys: Partner)
The media reports are full of such stories; albeit cheating in sports, State capture, wide-scale corruption at governmental, provincial, municipal, parastatal, corporate and the private business sectors, and similar related matters in the cases associated with the Guptas, Mckinsey, Trillian, KPMG (and other auditors), VBS Bank, including Eskom, Steinhoff, SAA and Transnet executives on a personal level.
By Terrance M. Booysen (Director: CGF) and peer reviewed by Hennie Viljoen (CIPC: XBRL Programme Manager)
Standards affect almost every aspect of daily living. They set a certain benchmark level of quality or attainment, and they may be used as a measure, norm or model in comparative evaluations. Standards may also regulate social and societal interactions and they are most often used to manage and guide operations to ensure safety, quality and functionality. In essence standards are as important as they are influential; and the wider the range of their adoption, the easier it is to achieve -- albeit initially -- a common level of quality and comparison.
We are pleased to welcome Junadi Jooste as the newest member to join CGF’s team of Lead Independent Consultants. Junadi has acquired a wealth of business experience over the last 15 years in various industry sectors including Public Entities, the Financial Sector as well as Media Broadcasting. Junadi specialises in a broad range of Company Secretarial functions.
By Terrance M. Booysen and peer reviewed by Michael Judin (Director: Judin Combrinck Inc.)
Most modern, well-governed organisations are acutely aware of the need for their businesses to be run in an ethical and socially-conscious manner and for this ethos to be communicated to their stakeholders. This being the case, it is well documented that the influential set of so-called Millennials -- unlike their older generational ‘Baby Boomers’ and Xennials -- actively support organisations whose tenets are based upon transparency, including the preservation of society and the environment.
By Dr Dicky Els and Jene’ Palmer, and reviewed by Terrance M. Booysen
The Board is responsible for overseeing and monitoring the execution of the organisation’s strategic plan by, inter alia, driving a culture of accountability through appropriate and transparent reporting and disclosure. In today’s increasingly competitive business environment, stakeholders are demanding more information on the social and ethics risks facing the organisation.
By Terrance M. Booysen (CEO: CGF Research Institute) and reviewed by Dr Claudelle von Eck (CEO: Institute of Internal Auditors, South Africa)
New standards, guidelines, codes and laws are being regularly implemented to update and improve the international regulatory environment in which businesses operate. In many instances, these ‘governance instruments’ are implemented in response to the myriad leadership challenges which are being experienced on a global basis.
By Terrance M. Booysen (Director: CGF) & Anton van Wyk (Partner & Risk Assurance Leader: PwC)
Organisations can no longer operate only for the economically-driven rationale of generating a profit for their shareholders and investors. Organisations are an integral part of the societies and the environments in which they operate. As such, they affect -- and are affected by -- both internal and external stakeholders, and are consequently accountable to them.
By Terrance M. Booysen and peer reviewed by Professor Michael Katz (Chairman: ENS Africa)
With the media spotlight on the dismal state of governance in some of South Africa’s public and private organisations, as well as many of its state-owned enterprises, there cannot be enough said about the enormous role and duties expected of the directors of an organisation.