By Glen Talbot(CA) SA and Terrance Booysen and peer reviewed by Jené Palmer CA(SA)
People who occupy positions of authority include not only executive and non-executive directors of the board, but also managers who have the means of influencing or causing material changes in the organisation. The latter, according to the South African Companies Act of 2008, are known as ‘prescribed officers’ and together with the organisation’s directors and internal auditors, can all be held liable for not ensuring that the interests of the organisation are being adequately served and protected.
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.
By Terrance M. Booysen
Recent local and international headlines have been explosive in their exposure of the involvement of large organisations in the perpetuation of political instability and increased racial tensions in South Africa, as well as the alleged facilitation of so-called ‘state capture’. These headlines have brought into sharp focus the importance of strong, ethical leadership within organisations such that the organisation is not only seen to be, but is operating an ethical business.