19 March OUR GENERAL APPROACH TO COVID-19 (2020-03-19) March 19, 2020 COVID 19, General COVID-19, pandemic, World Health Organisation, WHO, GRC, coronavirus, SARS-CoV-2 CGF is a Proudly South African company which offers a wide range of corporate governance services for all industry sectors, no matter the size of the organisation. Our Lead Independent Consultants specialise in various areas of governance risk and compliance (GRC), working across South Africa. We are constantly monitoring the Government's prescriptions regarding the COVID-19 pandemic, including all measures to prevent the spread of the virus. Notwithstanding the unknown variables regarding this virus, we have been evaluating the potential impact of the virus on our business. Our priorities are the safety of our employees, consultants and clients, and the continuity of our business operations. Avoiding Business Disruption by Operating Without Interruption We have invested in technology and training that enables our consultants to operate remotely. We are reducing face-to-face meetings and encouraging the use of Microsoft Teams or Zoom for all client engagements as far as possible. Face-to-face meetings and conferences will be limited and our governance training sessions will be conducted online as far as possible. Keeping Our Clients, Lead Independent Consultants and Employees Safe We are approaching COVID-19 outbreak with extreme caution to ensure the health and safety of our clients, consultants and employees. We are also following the guidelines issued by the World Health Organisation (WHO) and relevant SA governmental health organisations. We have implemented the following precautionary hygiene measures: we are reducing face-to-face meetings and encouraging the use of video conferencing; we have temporarily suspended all business travel arrangements and have recommended that our consultants and employees refrain from personal, domestic or international travel; we will abide by the rule of no more than 100 persons being present at any business event. Our functions, meetings and training will be kept to small gatherings of no more than 30 individuals. However, we will continue to monitor developments in respect of the spread of the virus and will make decisions regarding these events with an eye on maximum caution and vigilance; we are working closely with our suppliers and partners (whether in affected areas or otherwise) to ensure that they are also taking the necessary precautions to prevent the spread of the virus and ensure their own sustainability; hand sanitizers have been implemented throughout our offices for both client and employee use. Regular cleaning of hand-touch areas at our offices with disinfectants is also being done; our consultants and employees have been requested to avoid hand-shakes, as hands carry a lot of germs. Appropriate distances and office seating arrangements have also been introduced that avoid close human contact; and ‘social distancing’ is being practised by our consultants and employees and we urge our stakeholders to do the same. We fully support the self-isolation activities advocated by the various authorities. The above steps all help promote a safe environment for our clients, consultants, employees and suppliers. Each of us has a responsibility to act responsibly to avoid the spread of COVID-19. We will advise all our stakeholders of any potential risk of exposure and expect them to do the same. United we can and will make a difference in restricting the spread of this virus. Yours in good governance. The CGF Executive Follow CGF on Twitter: @CGFResearch Related Articles 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. TANGIBLE BENEFITS OF A CORPORATE GOVERNANCE FRAMEWORK® Article by Jene’ Palmer Forward-thinking organisations have realised that corporate governance does not merely fall into the portfolio of the Company Secretary. Indeed, the draft King IV Report on Corporate Governance for South Africa 2016 (‘King IV’), describes corporate governance as “the exercise of ethical and effective leadership by the governing body” of an organisation. Why then is corporate governance still viewed by many organisations as a process which increases bureaucracy and drives a ‘tick box’ exercise? Perhaps the explanation lies in not understanding and appreciating the value which can be unlocked by implementing a purpose-built Corporate Governance Framework® which is tailored to the organisation. Empirical research supports the fact that good corporate governance translates into tangible and sustainable benefits for the organisation. Some of these benefits are set out below. DO YOU REALLY NEED A CORPORATE GOVERNANCE FRAMEWORK®? By Jene’ Palmer and reviewed by Terrance M. Booysen We know that both local and international organisations are continuously having to adapt to operate in uncertain business environments. Locally, the release of the Preferential Procurement Regulations 2017, which places stronger emphasis on ‘radical transformation’, against the backdrop of persisting low economic growth rates are only some of the elements giving rise to further uncertainty. Internationally, the business and regulatory implications of the election of President Donald Trump and the vote in favour of Brexit and how these events will impact on local markets and businesses, is still unfolding. It therefore comes as no surprise that recent governance, risk and compliance (‘GRC’) surveys all indicate an increasing need to improve risk oversight and to balance opportunity management with risk management. The challenge lies in being able to achieve these objectives! 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? COMBINED ASSURANCE: IS YOUR ORGANISATION ADEQUATELY ASSURED? (2019-10-01) 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. GENERATING EXTRA VALUE AND BUSINESS RESILIENCE THROUGH THE ‘SIX CAPITALS’ (2019-07-24) 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. Comments are closed.