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Praefectus™ News and Updates

Stay up to date with the latest news and updates from Praefectus™

COVID-19: A BRAVE NEW WORLD WHERE GOOD GOVERNANCE IS KEY (2020-03-25)

Dear CGF clients, constituents and followers

A brave new world

As the world, and indeed South Africa, now faces the uncertainty of a risk that threatens human life, business operations and social movement as we know it, the Corona virus (Covid-19) has forced the world’s leaders and businesses to rethink  measures aimed at  protecting a nation and its inhabitants to ensure their safety and survival.


DEMYSTIFYING ISO MANAGEMENT SYSTEM STANDARDS AND RELATED GUIDELINES (2019-10-25)

By Stephen Simmonds (Independent Lead Consultant - Integrated Management Systems: CGF Research Institute) and peer reviewed by Terrance M. Booysen (Director: CGF Research Institute)

The number of management systems has risen dramatically in recent years, reflecting the increasing governance demands being placed on more and more organisations and their boards, and especially so in the wake of a myriad of governance scandals and corporate collapses locally and abroad.


COMBINED ASSURANCE: IS YOUR ORGANISATION ADEQUATELY ASSURED? (2019-10-01)

By Glen Talbot(CA)SA, Travers Cape (CA)SA and peer viewed by Jene’ Palmer CA(SA): CGF Lead Independent Consultants

If we have both internal and external auditors, we have combined assurance, right?  Wrong! 

For the board of directors to claim that they have discharged their obligations to implement a Combined Assurance Model requires much more than just the appointment of internal and external auditors.


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

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.


GENERATING EXTRA VALUE AND BUSINESS RESILIENCE THROUGH THE ‘SIX CAPITALS’ (2019-07-24)

By Stephen Simmonds (Director: SynergyGRC) and peer reviewed by Terrance M. Booysen (Director: CGF Research Institute)

In a world where the interconnected and constantly changing relationships between financial, social and environmental issues are becoming more evident, businesses that remain unaware of their impacts and dependencies on their non-financial relationships attract unnecessary risk.  Indeed, these organisations also fail to recognise new opportunities for efficiency, growth, resilience and development.


BOARDS THAT PLAY THE INFINITE GAME (2019-05-27)

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

Visionary leaders do not underestimate the power of the Corporate Governance Framework® in driving organisational culture.  These leaders appreciate the importance of a governance framework in nurturing sustainability by driving values-based decision-making to “play the long game”.


SUSTAINABILITY DEPENDS ON A STRONG GOVERNANCE FRAMEWORK

Article by Terrance M. Booysen

Corporate governance is one of the key elements many investors consider when they reflect upon the organisation’s success, as well as when deciding upon their investment choices. But when the organisation’s governance system shows signs of stress or failure, not only do astute investors understand the unsettling impact it has upon the organsation’s supply chain, they also become wary about its sustainability which may give rise to them re-considering to ‘weather the storm’ or ‘bail out’ so to speak.

Over the years so much has been written about failures of corporate governance within organisations, including the financial, social and political consequences which are typically found in its trail. Yet in spite of numerous regulation to improve the overall conduct of organisations, including the various King Codes of Corporate Governance written in South Africa, even more organisations are becoming affected by poor governance.


BOARDS THAT CREATE VALUE: CORPORATE GOVERNANCE FRAMEWORK®

By Jene’ Palmer and reviewed by Terrance M. Booysen

It has been painful to watch the likes of Lance Armstrong, Mike Tyson and Hansie Cronje sabotage their futures through poor decision-making. Similarly, many organisations and their boards have failed to demonstrate strong and responsible leadership qualities to motivate and drive their organisations to success. Awareness, decisiveness and accountability are some of the business leadership qualities required to achieve remarkable performances.

The ‘buck’ stops with the board of directors and it is the board of directors who are ultimately held accountable for the success of the organisation. However, with the business landscape changing at an accelerating rate, risk management and decisive decision-making are becoming more challenging and business failures more prominent. A recent Harvard Business Review reports the failure rate for mergers and acquisitions to be between 70% and 90%. According to the United States Small Business Administration, only 44% of new businesses are still in existence after four years. Against this backdrop, how does a board create a sustainable organisation in what are clearly turbulent times?


THE COMPANY SECRETARY: FROM COMPANY ADMINISTRATOR TO GOVERNANCE LEADER (2018-06-19)

By Terrance M. Booysen (Director: CGF) and peer reviewed by Lucien Caron (Lead Independent Consultant: CGF)

The role of a company secretary is broad and onerous to say the least and, if this post is not occupied by a competent person who has the appropriate knowledge and skills; the consequences can be the cause of significant organisational friction.  The requirements and reporting lines of the position -- by their very nature -- give rise to potential conflict situations, and it is for this reason in particular, that the person appointed to the position must have the necessary maturity, experience and independence to properly carry out their duties and responsibilities, while being objective, impartial and independent.