Tag: accountability

The news that John Lamola will assume the roles of both Executive Chair and CEO of South African Airways (SAA) suggests that the state has not learned the lessons of the past few years regarding the importance of good governance.

As leaders, one of our biggest fears is no longer having a meaningful role to play in our organisations. For many business leaders, the fear of obsoletion can be crippling, especially when it comes to the vital process of succession planning.

The cryptocurrency market has grown exponentially over the past few years as people seek to ‘strike gold’ by investing in the latest virtual ‘coin’. What most don’t know, however, is that this digital currency also has a smart contractual capacity that can bind users to a cause or indicate commitment to work alongside other investors to achieve a common goal.

The primary responsibility of every accountant is to serve the public interest first. But, as asked by the Roman poet Juvenal, 'Who will guard the guards themselves?' Who ensures accountants remain accountable? This is the function of professional accountancy organisations (PAOs), and it is the reason every accountant should be a member of such an association.

The COVID-19 pandemic has had a global impact. The South African government has been applauded by the World Health Organisation for its quick response to curb the spread of the COVID-19 in its early stages, and prepare its health care system to better respond to the pandemic.

The times we are currently living in are unprecedented. Covid-19 has once again highlighted the reasons why governance - good governance - is a critical function in a democratic country.

As data moves to the cloud, data volumes continue to explode and become increasingly fragmented across devices, locations and service providers. This exponential growth of data and information ushers in the increased burden of responsibility on organisations to strictly enforce data policies and governance, that must be adhered to in an environment of escalating global regulation.

The strength of the Rule of Law in a country ranks among the top three considerations when multinationals make decisions about where to locate foreign direct investment – above considerations such as the cost of doing business and access to national and regional markets. 

The recent announcement of President Ramaphosa’s new cabinet provides a good opportunity to reflect on the critical role of ministers in the governance of the public sector. The work we have done in the public sector over the years revealed some common governance challenges.

South African manufacturers face serious challenges. Among them are a flood of cheap imports, a shrinking domestic market, often fractious labour relations and low productivity levels. We do have a weak currency and good technical expertise, but it remains a tough climate for manufacturing.