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CGF ARTICLES, OPINIONS & EDITORIALS

MEASURING THE ORGANISATION’S GOVERNANCE EFFORTS (2022-04-21)

By Terrance M. Booysen and peer reviewed by Jené Palmer CA(SA)

For many years corporate governance has been a sensitive topic for many boardrooms.  In reality, despite the writing of the various codes of corporate governance, the business and state environments remain littered with examples of failed governance.

Given that the South African business landscape still finds itself in deep trouble, one may argue that the introduction of the latest King IV™ Report on Corporate Governance for South Africa 2016 and its outcomes-based reporting has still not had the desired impact in driving governance change.

USING THE CORPORATE GOVERNANCE FRAMEWORK® IN TIMES OF GREAT UNCERTAINTY (2021-11-17)

By Terrance M. Booysen and peer reviewed by Jené Palmer CA(SA)

Whilst most corporations across the world have had to make drastic changes to their business operations as a result of the Covid19 pandemic, many business leaders believe that the disruptions caused by the pandemic have inadvertently introduced more advantages than disadvantages.  However, are the odds actually stacked against the organisation?

INVIGORATING THE INTERNAL AUDIT PROFESSION THROUGH ROBUST GOVERNANCE AND CONTROLS (2020-08-18)

By Jené Palmer CA(SA) (CGF Lead Independent Consultant) and peer reviewed by Terrance M. Booysen

The recent public censure and financial penalties imposed by the JSE Limited on Tongaat Hulett Ltd and EOH Ltd for non-compliance with the JSE Listing Requirements, again brings the effectiveness of the internal audit profession (and indeed external audit) into question.  Is internal audit adding value?

The question is relevant to both the public and private sector where examples of financial misstatement and the circumvention of internal procurement policies and procedures are increasingly being uncovered.  In these circumstances, questions need to be asked about the future role and stakeholder expectations of internal audit.

INTERNAL AUDIT REQUIRE GREATER REPRESENTATION ON THE BOARD (2019-08-05)

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.

SOUTH AFRICA: INTERNAL AUDITORS KEPT ON TOES WITH AMENDED INTERNATIONAL PROFESSIONAL PRACTICES FRAMEWORK (2018-02-22)

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.

WHY NON-EXECUTIVES SHOULDN’T DO IT FOR THE FEES ALONE (2017-09-15)

By Terrance M. Booysen

While the board attendance fees paid to Non-Executive Directors (‘NEDs’) may be a strong incentive for certain individuals to avail themselves for these boardroom positions, it may be well worth reconsidering the risk and rewards.  The onerous duties and responsibilities which are placed on NEDs -- including the demands made by the organisation’s key stakeholders on the board -- significantly increase the liability factor and make the ‘lure’ of the board attendance fees less appealing.

D&O LIABILITY INSURANCE: AN ESSENTIAL COMPONENT OF AN ORGANISATION’S RISK-MITIGATION TOOLBOX (2017-08-16)

By Terrance M. Booysen and peer reviewed by David Loxton (Partner: Dentons)

Directors and officers of all organisations are facing an increased risk of personal exposure.  Their roles and responsibilities have become progressively more onerous in recent years, mainly as a result of new legislation and regulatory requirements, stakeholder pressure and increased governance and social responsibilities, as well as the complexity of trans-continental and macro-economic trading conditions.

WORKPLACE STRESS: A REAL ORGANISATIONAL RISK (2017-04-12)

By Dr Dicky Els and Terrance M. Booysen

It is imperative that the impact of work-related stress and the negative impact of distress be incorporated into the organisation’s enterprise-wide risk management framework. A Bloomberg study conducted in 2013 revealed that South Africa is the second-most ‘stressed’ country out of a study of 74 countries.

ARE YOU READY FOR REGULATORY ONSLAUGHT AND INTERVENTIONS? (2017-02-02)

By Lucien Caron and reviewed by Terrance M. Booysen

Increasingly, large and small organisations are under mounting pressure to manage regulatory compliance and their associated risks more effectively.  Greater attention thus needs to be given to the organisation’s risk appetite and its risk mitigation, both at the enterprise and service-line levels.

ANTI-HATE SPEECH BILL INTRODUCES NEW BUSINESS RISKS (2016-11-07)

Article by Robert Davies (CGF: Lead Independent Consultant) and reviewed by Terrance M. Booysen

Saying or doing something racist, or performing various deeds which falls within a long list of things the Bill deems to be hate speech -- or a hate crime -- could see you ending up with a criminal record.