n TFM Magazine - Good governance - on the radar - of transforming interest

Volume 2 Number 14
  • ISSN : 2308-0639
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For all businesses in South Africa, before investing in any business transaction, whether it is valued at R10,000.00 or R50 million, the credibility of the transaction is always investigated. Ascertaining such credibility could be in the form of the supplier application process or direct due diligence questions. Therefore, whether you are the investor or the investee, it is vital that your organisation aligns itself with ‘Good Corporate Governance’ and has the evidence on-hand to prove that your organisation is in fact a ‘Good Corporate Citizen’.

Running a business has become increasingly complex and challenging for appointed Directors of organisations. Today they have to manage stakeholder relations, deal with the persistent presence of social media and the effects thereof, as well as the escalating dependence on third-party software for the storing, processing and distributing of information. This is, in addition to the day-to-day running of a business in line with good governance expectations.

Questions often posed to Directors; “Is your corporate governance in place?” or “Did you act within your fiduciary duty?” Such questions extend beyond the King Code to the expectations of the Amended Codes, both of which obligate organisations to be ‘Good Corporate Citizens’.

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