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Praefectus™ News and Updates

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

CALL TO ACTION: DIGITISE THE GOVERNANCE FRAMEWORK ACROSS ALL STATE ORGANISATIONS (2024-11-19)

By Terrance M. Booysen (CGF Research Institute: CEO)

Dear President Ramaphosa

South Africa’s state organisation’s require a modern overhaul that embraces digital solutions to enhance transparency, accountability and efficiency. Digitising the governance frameworks in each State-Owned Entity (SOE) and State Owned Company (SOC) can serve as a catalyst for change, enabling the government to tackle the myriad governance challenges facing these organisations and pave the way for a stronger, more resilient nation.


NO THANKS, NOT FOR US! (2024-10-29)

By Terrance M. Booysen (CGF Research Institute: CEO)

Despite the public outcries about corruption and the demand for increased accountability, in practice, the gravitas of good corporate governance continues to be trivialised. Corporate governance plays a crucial role in shaping the future strategic direction of organisations and guiding their operational conduct.  It is especially important for those holding fiduciary duties or providing advisory services related to corporate governance.


THE LINK BETWEEN YOUR GOVERNANCE FRAMEWORK AND STRATEGIC DEXTERITY (2024-05-07)

By Jené Palmer CA(SA) GCB.D (CGF Research Institute: Director)

Too many board members only view their organisation’s governance framework as a means to assess compliance. The opportunity to leverage the outcomes of governance assessments to drive innovation and strategic change are often missed because organisational leaders do not measure the dexterity of their strategic processes.


FAILED GOVERNANCE IN STATE ORGANISATIONS IS NOT A SIMPLE BAILOUT! (2023-08-10)

By Terrance M. Booysen (CGF Research Institute: Chief Executive Officer)

Given the multiple governance failures seen across South Africa, and mostly within the public sector, there is no doubt that this fragile situation is a national disaster.  The costs of these governance failures are far worse than the actual monetary losses reported to date.  Earlier this year the Reserve Bank estimated that the country’s energy crisis alone is causing losses to the SA economy of approximately $51 million (approximately R942 million) every day.


THE CORPORATE GOVERNANCE FRAMEWORK® - AN ALTERNATIVE TO WHISTLEBLOWING (2023-07-21)

By Jené Palmer (CGF Research Institute: Director)

Whistleblowing can be a courageous act, but it is not always the best option for everyone due to potential risks and consequences.  It is also true that by the time any whistleblowing mechanisms are used, the damage has already been done to the organisation and its stakeholders.  This begs the question then: what is the alternative?


MEASURING THE ORGANISATION’S GOVERNANCE EFFORTS (2022-04-21)

By Terrance M. Booysen and peer reviewed by Jené Palmer CA(SA)

For many years corporate governance has been a sensitive topic for many boardrooms.  In reality, despite the writing of the various codes of corporate governance, the business and state environments remain littered with examples of failed governance.

Given that the South African business landscape still finds itself in deep trouble, one may argue that the introduction of the latest King IV™ Report on Corporate Governance for South Africa 2016 and its outcomes-based reporting has still not had the desired impact in driving governance change.


DIRECTORS’ SENTIMENT INDEX™ REPORT: 5TH EDITION – CGF’S OBSERVATIONS FROM A GOVERNANCE PERSPECTIVE (2020-11-12)

By Glen Talbot (CA)SA and Terrance Booysen and peer reviewed by Jené Palmer CA(SA)

A review of the Institute of Directors in South Africa (‘IoDSA’)’s recently released report for 2020 raises some interesting observations from a governance perspective. It should be noted that the study was concluded prior to the nation-wide lockdown and national state of disaster due to the Corona virus (‘Covid-19’) pandemic. It is likely that the sentiments expressed by respondents may have been significantly more pessimistic had the study been concluded in the second half of 2020.


INTERNAL AUDITORS PLAY AN IMPORTANT ROLE IN STRENGTHENING THE GOVERNANCE OF AN ORGANISATION (2020-08-12)

By Glen Talbot(CA) SA and Terrance Booysen and peer reviewed by Jené Palmer CA(SA)

People who occupy positions of authority include not only executive and non-executive directors of the board, but also managers who have the means of influencing or causing material changes in the organisation.  The latter, according to the South African Companies Act of 2008, are known as ‘prescribed officers’ and together with the organisation’s directors and internal auditors, can all be held liable for not ensuring that the interests of the organisation are being adequately served and protected.


SURVIVING DISRUPTIONS IN BUSINESS CALLS FOR MORE AGILE BOARDS AND A ROBUST GOVERNANCE FRAMEWORK (2020-07-23)

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

Even prior to the Covid-19 pandemic, the ease of doing business in South Africa was already under great pressure.  According to the World Bank’s annual ratings, South Africa’s ranking had deteriorated from 82nd position amongst 190 economies to 84th position in 2019.  The Covid-19 saga has clearly made matters far worse for businesses to survive in South Africa, hence requiring greater board agility to weather and beat the socio-economic tsunami we are now facing.