scholarly journals To report or not to report

2013 ◽  
Vol 16 (1) ◽  
pp. 13-25 ◽  
Author(s):  
Warren Maroun ◽  
Harvey Wainer
Keyword(s):  
South Africa ◽  
Corporate Governance ◽  
South African ◽  
Regulatory Reform ◽  
External Audit ◽  
Whistle Blowing ◽  
Definition Of ◽  
Governance Processes

Whistle-blowing can play an important role in enhancing the effectiveness of corporate governance processes. In particular, legislation mandating that auditors blow the whistle on their clients’ transgressions can assist in overcoming agency-related costs and improve confidence in external audit. This is, however, only the case if regulatory reform enjoys cohesion. The Companies Act No. 71 of 2008, by introducing a definition of ‘reportable irregularities’ different from that in the Auditing Profession Act No. 26 of 2005 (APA); excluding ‘independent reviews’ from the scope of APA; and effectively exempting the majority of South African companies from the requirement either to be audited or reviewed, may materially undermine whistle-blowing by auditors in South Africa. In turn, this begs the question: for how long will South Africa rank first globally for the quality of its auditing practices? 

scholarly journals THE PROTECTION OF WHISTLE-BLOWERS IN THE FIGHT AGAINST FRAUD AND CORRUPTION: A SOUTH AFRICAN PERSPECTIVE

Obiter ◽  
2021 ◽  
Vol 31 (3) ◽  
Author(s):  
Monray Marsellus Botha
Keyword(s):  
South Africa ◽  
Corporate Governance ◽  
South African ◽  
Economic Stability ◽  
Whistle Blowing ◽  
African Perspective ◽  
Social Damage

Criminal and irregular conduct can endanger the economic stability in South Africa. It also has the potential of causing social damage. Employees as whistle-blowers play an important role in the promotion of corporate governance in organizations and are protected from occupational detriments by the Protected Disclosures Act 26 of 2000. The Companies Act 71 of 2008 also contains provisions regarding whistle-blowing but extends the protection to other categories such as shareholders and directors. This article investigates the protection granted by both these pieces of legislation and if synergy exists between these two Acts. It also explores whether the Protected Disclosures Act really protects employees and the remedies they are entitled to.

As the Postcolonial Moment Deepens: A Response to Green, Sonn, and Matsebula

2007 ◽  
Vol 37 (3) ◽  
pp. 420-424 ◽  
Author(s):  
Melissa Steyn
Keyword(s):  
South Africa ◽  
South African ◽  
State Power ◽  
World Order ◽  
Whiteness Studies ◽  
South Africans ◽  
Racial Privilege

Green, Sonn, and Matsebula's (2007) article is useful in helping to establish and develop whiteness studies in South African academia, and thus to shift the academic gaze from the margins to the centre. The article is published in the wake of three waves of international whiteness studies, which successively described whiteness as a space of taken-for-granted privilege; a series of historically different but related spaces; and, finally, as part of the global, postcolonial world order. Green, Sonn, and Matsebula's (2007) contribution could be extended by more fully capturing the dissimilarity in the texture of the experience of whiteness in Australia and South Africa. In South Africa whiteness has never had the quality of invisibility that is implied in the ‘standard’ whiteness literature, and in post-apartheid South Africa white South Africans cannot assume the same privileges, with such ease, when state power is overtly committed to breaking down racial privilege.

scholarly journals The protection of environmental interests through corporate governance: A South African company law perspective

2015 ◽  
Vol 11 (2) ◽  
pp. 8-20
Author(s):  
Anthony O. Nwafor
Keyword(s):  
South Africa ◽  
Sustainable Development ◽  
Corporate Governance ◽  
South African ◽  
Common Law ◽  
Company Law ◽  
The Common ◽  
Corporate Administrators ◽  
Environmental Interests

The quest to maximize profits by corporate administrators usually leaves behind an unhealthy environment. This trend impacts negatively on long term interests of the company and retards societal sustainable development. While there are in South Africa pieces of legislation which are geared at protecting the environment, the Companies Act which is the principal legislation that regulates the operations of the company is silent on this matter. The paper argues that the common law responsibility of the directors to protect the interests of the company as presently codified by the Companies Act should be developed by the courts in South Africa, in the exercise of their powers under the Constitution, to include the interests of the environment. This would guarantee the enforcement of the environmental interests within the confines of the Companies Act as an issue of corporate governance.

A generic investigation process for South African commercial forensic practitioners

2020 ◽  
Vol 27 (2) ◽  
pp. 587-600 ◽  
Author(s):  
Jacobus Gerhardus J. Nortje ◽  
Daniel P. Bredenkamp
Keyword(s):  
South Africa ◽  
Best Practices ◽  
South African ◽  
Governance Structure ◽  
Primary Data ◽  
Cross Sectional ◽  
Content Type ◽  
Cross Sectional Design ◽  
Investigation Process

Purpose The purpose of this paper is to critically analyse and discuss the identification of a generic investigation process to be followed by the commercial forensic practitioner in South Africa. Design/methodology/approach This paper is a cross-sectional design that commenced with a review of the current available literature, highlighting the different approaches, processes and best practices used in local and international forensic practices. The methodology includes primary data collected with questionnaires from commercial forensic practitioner (N = 75) process users. Findings This paper identifies the following five distinct categories in the forensic investigation process, with sub-processes, namely, initiation, planning, execution, reporting and reflection. Research limitations/implications The study focuses only on the South African members of the Institute of Commercial Forensic Practitioners (ICFP) fraternity in South Africa as the ICFP is a leading body that, through membership, offers a recognised professional qualification in commercial forensics. Practical implications An investigation process for commercial forensic practitioners in South Africa could be used by the ICFP that would provide a governance structure for the ICFP. Originality/value The originality of this paper lies in setting out of an account of forensic accounting processes and best practices nationally and internationally. The missing knowledge is that no such research is known to have been conducted in South Africa. Currently, to the authors’ knowledge, no formalised investigation process exists. The contribution of the study is that by using an investigation process, it may enhance the quality of forensic investigations and contribute to the successful investigation and prosecution of commercial crime in South Africa that will be beneficial to all stakeholders.

scholarly journals Quality of recovery after total hip and knee arthroplasty in South Africa: a national prospective observational cohort study

2020 ◽  
Vol 21 (1) ◽  
Author(s):  
Ulla Plenge ◽  
Romy Parker ◽  
Shamiela Davids ◽  
Gareth L. Davies ◽  
Zahnne Fullerton ◽  
...  
Keyword(s):  
South Africa ◽  
South African ◽  
Knee Arthroplasty ◽  
Patient Characteristics ◽  
Public Hospitals ◽  
Morbidly Obese ◽  
Total Hip ◽  
Quality Of Recovery ◽  
Hip And Knee Arthroplasty

Abstract Background Encouraged by the widespread adoption of enhanced recovery protocols (ERPs) for elective total hip and knee arthroplasty (THA/TKA) in high-income countries, our nationwide multidisciplinary research group first performed a Delphi study to establish the framework for a unified ERP for THA/TKA in South Africa. The objectives of this second phase of changing practice were to document quality of patient recovery, record patient characteristics and audit standard perioperative practice. Methods From May to December 2018, nine South African public hospitals conducted a 10-week prospective observational study of patients undergoing THA/TKA. The primary outcome was ‘days alive and at home up to 30 days after surgery’ (DAH30) as a patient-centred measure of quality of recovery incorporating early death, hospital length of stay (LOS), discharge destination and readmission during the first 30 days after surgery. Preoperative patient characteristics and perioperative care were documented to audit practice. Results Twenty-one (10.1%) out of 207 enrolled patients had their surgery cancelled or postponed resulting in 186 study patients. No fatalities were recorded, median LOS was 4 (inter-quartile-range (IQR), 3–5) days and 30-day readmission rate was 3.8%, leading to a median DAH30 of 26 (25–27) days. Forty patients (21.5%) had pre-existing anaemia and 24 (12.9%) were morbidly obese. In the preoperative period, standard care involved assessment in an optimisation clinic, multidisciplinary education and full-body antiseptic wash for 67 (36.2%), 74 (40.0%) and 55 (30.1%) patients, respectively. On the first postoperative day, out-of-bed mobilisation was achieved by 69 (38.1%) patients while multimodal analgesic regimens (paracetamol and Non-Steroid-Anti-Inflammatory-Drugs) were administered to 29 patients (16.0%). Conclusion Quality of recovery measured by a median DAH30 of 26 days justifies performance of THA/TKA in South African public hospitals. That said, perioperative practice, including optimisation of modifiable risk factors, lacked standardisation suggesting that quality of patient care and postoperative recovery may improve with implementation of ERP principles. Notwithstanding the limited resources available, we anticipate that a change of practice for THA/TKA is feasible if ‘buy-in’ from the involved multidisciplinary units is obtained in the next phase of our nationwide ERP initiative. Trial registration The study was registered with ClinicalTrials.gov (NCT03540667).

scholarly journals A primer on counterparty valuation adjustments in South Africa

2014 ◽  
Vol 17 (5) ◽  
pp. 584-600
Author(s):  
Gary Wayne Van Vuuren ◽  
Ja'nel Esterhuysen
Keyword(s):  
South Africa ◽  
Financial Crisis ◽  
Credit Risk ◽  
South African ◽  
Credit Spreads ◽  
Basel Iii ◽  
Credit Quality ◽  
Counterparty Credit Risk ◽  
Market Variables

Counterparty valuation adjustment (CVA) risk accounts for losses due to the deterioration in credit quality of derivative counterparties with large credit spreads. Of the losses attributed to counterparty credit risk incurred during the financial crisis of 2008-9 were due to CVA risk; the remaining third were due to actual defaults. Regulatory authorities have acknowledged and included this risk in the new Basel III rules. The capital implications of CVA risk in the South African milieu are explored, as well as the sensitivity of CVA risk components to market variables. Proposed methodologies for calculating changes in CVA are found to be unstable and unreliable at high average spread levels.

Does Widespread Lack Undermine the Socially Perceived Necessities Approach to Defining Poverty? Evidence from South Africa

2012 ◽  
Vol 42 (1) ◽  
pp. 147-165 ◽  
Author(s):  
GEMMA WRIGHT ◽  
MICHAEL NOBLE
Keyword(s):  
South Africa ◽  
South African ◽  
Standard Of Living ◽  
Access To Services ◽  
Adaptive Preferences ◽  
Acceptable Standard ◽  
Nationally Representative ◽  
Definition Of ◽  
Consensual Approach

AbstractThe socially perceived necessities or ‘consensual’ approach to defining and measuring poverty is based on an assumption that it is possible to obtain a collective view from society on the necessities for an acceptable standard of living. The enforced lack of the necessities due – typically – to lack of resources can be regarded as poverty. The validity of the approach has been questioned on a number of grounds including the argument that people's socio-economic circumstances may influence what they define as a necessity. Widespread lack of material possessions and access to services could result in these items being regarded as ‘less necessary’, which in turn could artificially deflate the definition of poverty using this approach. Informed by the adaptive preferences literature and drawing on a nationally representative South African Socially Attitudes Survey this paper explores whether there is evidence in South Africa of an association between people's patterns of possession and their definition of items as essential. Notwithstanding the fact that possession of an item is strongly associated with people's preferences, the evidence on balance suggests that widespread lack does not undermine the validity of the approach.

An Opportunity Missed for Male Rape Survivors in South Africa: Masiya v Director of Public Prosecutions and Another

2008 ◽  
Vol 52 (2) ◽  
pp. 284-301 ◽  
Author(s):  
Ntombizozuko Dyani
Keyword(s):  
South Africa ◽  
South African ◽  
Constitutional Court ◽  
Vulnerable Group ◽  
Rape Survivors ◽  
Form Part ◽  
Lower Courts ◽  
The Common ◽  
Definition Of ◽  
Anal Penetration

AbstractThe Constitutional Court of South Africa recently handed down a judgment on the extension of the common law definition of rape to include anal penetration of women, but not of men. The court argued that women form part of the most vulnerable group in society. This article analyses the court's judgment and argues that the court should have included anal penetration of men in the light of South African lower courts' decisions, international law and the fact that there is currently a law before parliament which pertains to the anal penetration of men. The article also argues that the court should have taken into consideration that this case involved a child, who is also from the most vulnerable group in society.

scholarly journals The South African code of corporate governance. The relationship between compliance and financial performance: Evidence from South African publicly listed firms

2015 ◽  
Vol 12 (2) ◽  
pp. 149-169 ◽  
Author(s):  
Jonty Tshipa ◽  
Thabang Mokoaleli-Mokoteli
Keyword(s):  
South Africa ◽  
Corporate Governance ◽  
Firm Performance ◽  
Financial Performance ◽  
South African ◽  
Small Firms ◽  
Large Firms ◽  
Board Size ◽  
Tobin's Q ◽  
Listed Firms

Using both Return On Assets (ROA) and Tobin’s Q as proxies for performance, the study seeks to explore if better governed firms exhibit greater financial performance than poorly governed firms. The paper employs a panel study methodology for a sample of 137 Johannesburg Stock Exchange (JSE) listed firms between 2002 and 2011. The results show that the compliance levels to corporate governance in South Africa (SA) has been improving since 2002 when King II came into force. However, the compliance level in large firms appears to be higher than in small firms. Further, the findings show that the market value of large firms is higher than that of small firms. These results largely support the notion that better governed firms outperforms poorly governed firms in terms of financial performance. Notably, the empirical results indicate that board size, CEO duality and the presence of independent non-executive directors positively impact the performance of a firm, whereas board gender diversity, director share-ownership and frequency of board meetings have no impact on firm performance. This suggests that greater representation of independent non-executive director, a larger board size and the separation of CEO and Chairman should be encouraged to enhance firm performance. Unexpectedly, the presence of internal key board committees, such as remuneration, audit and nomination, negatively impact firm performance. Similar to UK, South Africa has a flexible approach to corporate governance, in which listed firms are required to apply or explain non-conformance to King recommendations. This study has policy implications as it determines whether the flexible corporate governance approach employed by SA improves corporate governance compliance than the mandatory corporate governance approach as employed by countries such as Sri Lanka and US, and whether compliance translates into firm performance. The significant finding of this study is that compliant firms enjoy a higher firm performance as measured by ROA and Tobin’s Q. This implies that compliance to corporate governance code of practice matters, not just as box ticking exercise but as a real step change in the governance of South African listed firms. This paper fulfils an identified need of how compliance to corporate governance influences firm performance in South Africa. The findings have implications to JSE listing rules, policy, investor confidence and academia.

scholarly journals Evaluation of corporate integrated reporting in South Africa post King III release South Africa: An exploratory enquiry

2013 ◽  
Vol 6 (2) ◽  
pp. 421-438 ◽  
Author(s):  
Theophilus S. Makiwane ◽  
Nirupa Padia
Keyword(s):  
South Africa ◽  
Risk Management ◽  
Corporate Governance ◽  
Financial Performance ◽  
South African ◽  
Listed Companies ◽  
Integrated Reporting ◽  
Management Processes ◽  
The Future ◽  
Governance Risk

Following the release of the King III report on Corporate Governance for South Africa, which became effective in March 2010, South African companies are expected to embrace the concept of integrated reporting in terms of which they are required to provide details of their strategies, corporate governance, risk management processes, financial performance and sustainability. More importantly, companies need to show how these components of integrated reporting are linked to one another so that stakeholders can make informed decisions about such companies’ current performance as well as their ability to create and sustain value in the future. The purpose of this study was to determine whether the level of reporting by South African listed companies has improved since the release of the King III report. It was subsequently found that there have been some progress in this regard, but there is still much room for improvement if the objectives of integrated reporting are to be fully met.

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