Tag: Institute of Directors Southern Africa [IoDSA]
Board independence: King IV recommends a balanced approach
South African boards should be looking carefully at King IV’s guidance on board composition and director independence rather than simply trying to impose a one-size-fits-all rule. An overemphasis on independence can actually rob boards of institutional knowledge and experience.
City of JHB ransomware attack a board wake-up call
The recent ransomware attack suffered by the City of Johannesburg sounds a clarion call for boards to revisit their technology governance strategies and take a more holistic view of technology and the risk it poses.
Delinquency provisions in Companies Act bring errant directors to book
The delinquency provisions in the Companies Act are emerging as a key remedy against misconduct by directors in both the public and private sectors. What we have seen recently is that these delinquency provisions are increasingly being used to hold directors to account for misconduct. Directors must take note of this, because the penalties are extremely severe.
New ministers have a critical governance role to play
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.
SURVEY | Ethical sentiment among professional South Africans drop sharply!
Following a bruising year of corporate scandals, the AEPF Ethical Practices Survey 2018 reveals 1 in 4 believe financial success is more important than doing the right thing - while 25% in public sector say they fear for their lives when reporting wrongdoing.
Gaining the benefits from governance reporting
The first reports and disclosures in line with King IV principles are beginning to appear. King IV is effective in respect of financial years starting on or after 1 April 2017. It would appear that certain organisations still require a deeper understanding of the implications of King IV’s 'apply and explain' approach.
SONA leans heavily on corporate governance
In his much-lauded State of the Nation Address (SONA), President Cyril Ramaphosa devoted considerable attention to the challenge of rooting out corruption in government. The IoDSA has consistently argued that ethical institutions in both the public and private sectors alike are created from the top down, and that an organisation’s directors bear the main responsibility for ensuring that ethics are embedded in its DNA.
