Tag: risk assessment

Risk management is defined by the identification of events, both internal and external, that can affect the organisation’s ability to achieve specific objectives and to remain compliant within specific regulations. Risk management is carefully outlined in King IV as being inseparable from the company’s strategy and sustainability.

2020 has seen more people speaking of 'resilience' than ever before. While some organisations are well underway on their resilience journeys, others still ponder what resilience really means and how to start building it. Amidst global economic pressures, many organisations do not have the funds, resources and time available to develop and implement comprehensive programmes to enhance resilience.

You’ve heard about the wonders of property as an asset class and you have made a commitment to get into it. The most obvious way to enter the market is to buy property directly – as in when you buy a home, the whole building as well as the garden belongs to you (well, it will do in 20 years’ time when you have paid off the bond).

Employees returning to work from the COVID-19 lockdown will need to show reasonable justification if they halt work on the basis that they are exposed to the virus. Legal provisions allowing employees to withdraw from a hazardous working situation could, in the context of COVID-19, be open to abuse by unprincipled employees or trades unions.

As South Africa prepares to move from level 4 lockdown so more and more companies will be allowed to re-open. As part of this, there are a broad range of legal requirements that organisations now need to comply with. As of the 29th April 2020, government published a set of regulations specifically related to how companies should be managing COVID-19.

On 29 April 2020, the Minister of Cooperative Governance and Traditional Affairs, Dr Nkosazana Dlamini Zuma, published regulations in terms of the National Disaster Management Act which regulate the Alert Level 4 conditions during the COVID-19 national disaster.

In terms of risk versus reward, cybercrime is a highly lucrative industry. Research from Atlas VPN suggests that cyberattacks generate more than $1.5 trillion in revenue each year, and this figure is growing.

The Department of Health has confirmed the first case of the novel coronavirus (COVID-19) in South Africa. There is a strong likelihood that there will be other cases of COVID-19 across the country. Naturally, employers will need to bear in mind various employment and health and safety considerations to manage the risk of COVID-19 in the workplace.

Changes to the International Financial Reporting Standards (IFRS) are aimed at avoiding another global financial crisis. This is in response to the backlash against IFRS 17 Insurance Contracts from critics in the insurance industry.

Given current threat levels, all organisations should assume that they will experience some sort of cyber security incident sooner or later—probably sooner. Plan for the worst and, most important of all, know what to do when an incident occurs.