Topic 1 – Part 2 The Accounting Areas And Professional Bodies
PowerPoint Presentation · Cadbury King 1 King 2 King 3 King 4 1992 1994 2002 2009 2016. More...
Transcript of PowerPoint Presentation · Cadbury King 1 King 2 King 3 King 4 1992 1994 2002 2009 2016. More...
CSSA Meeting the challenges of
a changing landscape
18 September 2017
Stephen Sadie
(MBA, M. Ed)
Chief Executive Officer
Changing landscape
All of the speakers will be dealing with the changing landscape
Highlight some of the key changes
Show how CSSA is attempting to meet these challenges
Whistleblowing
Karen Mills, company secretary, JRA
Suspended by the JRA after making a protected disclosure
Protected Disclosures Act and King IV regulate whistle-blowing
Companies can’t have it both ways. Either protect whistle-blowers or close down one of the most effective tools used to uncover irregular conduct
Technology
Board and Executives cannot turn a blind eye
Digital is breaking down traditional barriers
Driverless cars
Accounting software
What will company secretaries be doing in 5 years time
Statutory stuff will be taken care of
Company secretaries will need to step up to the plate
Growing interest in corporate governance
Not everyone Not everyone
wants to be
a company
secretary
Legal
advisersCompliance
Risk and
Compliance
managers
Governance Governance
Advisers
Finance
managers
Top 10 risks
Corruption
Unemployment
Infrastructure
Political and social instability
Organised crime
Cyber attacks
Financial mechanisms
Income disparity
Urbanisation
Data fraud
Accountability to professional bodies
Decide on entry into a profession
Integrity – hard to build, easy to lose
Code of ethics
Discipline – process, complaints, investigation committee, disciplinary committee, appeals tribunal
We vouch for you
Ethical practices survey on professional bodies
Professional bodies need to make their members more accountable
Other agencies don’t seem to do anything!
Professionals in the public sector were less convinced about the practice of ethics within their organisations
Poorer ethical leadership in public sector
Strong willingness to report unethical behaviour anonymously
Professional institutes may need to prioritise ethics training
Failure to adhere to ethical principles leads to damaging reputation
Example:
Unemployment statistics
Unemployment rate in South Africa is 27.7%
Youth unemployment is 55.9%
Economic growth is low
South Africa downgraded to sub-investment grade following cabinet reshuffle
Retrenchments are the order of the day
Stiff competition for jobs
Current board subjects
Corporate Secretaryship
Corporate Governance
Corporate Financial Management
Corporate Administration
Chartered Secretary route
Company Secretarial Practice Company Secretarial Practice
(core)
Development of Strategy
(elective)
Chartered Governance Professional route
Public Sector Governance
(elective)
Enterprise Risk Management
(core)
Chartered Governance Professional RouteChartered Secretary Route
Development of Strategy (elective)
Associate/Fellow
Risk and Compliance (core)
Exit pointGraduate
Certificate
Affiliated
member
Entry with degree or equivalent
Corporate Governance (core)
Finance for Decision-making (core)
Corporate Law (core)
Company Secretarial Practice (core)
Enterprise Risk Management (core)
Graduate Diploma
and GradICSA
Public Sector Governance (elective)
Affiliated member
After the 1st three core subjects
Attract younger and aspiring professionals earlier in their careers who may then move on to Chartered membership.
Attract people who have an interest in governance but for whom the full Chartered Qualifying Programmes does not cater for their needs.
Those who are not able to go the whole way.
Why public sector governance module?
Not much else Not much else
State-owned Companies, National and Provincial Depts, Municipalities
State-owned Companies, National and Provincial Depts, Municipalities
Extend our influenceExtend our influence
Not many trained in governanceNot many trained in governance
The need is greatThe need is great
Programmes 1 – 3
Many students cannot access universities
Programme 1: Introduction to Corporate Governance, Introduction to Law, Communication, Introduction to Financial Accounting
Programme 2: Principles of Corporate Governance, Principles of Business Law, Advanced Financial Accounting, Managing Information Systems
Programme 3: Advanced Corporate Governance, Advanced Business Law, Principles of Management
Implementation in January 2019
History of ICSA divisions
1909
1937
1947
1949
1953
1957
1959
1992
2016
Southern Africa
New Zealand
Australia
Singapore
Canada
Malaysia
Zimbabwe
Ukriat
China
Corporate Secretaries International Association
6 Divisions plus
India
USA
Kenya
Indonesia
Bangladesh
We interact and learn from best practice throughout the world
Conclusion
Eskom, SAA, SABC, Transnet, Prasa, Denel Technology CPDs, Webinars, Conference
Growing interest in Governance Chartered Governance Professional
Risk and Compliance Risk and Compliance, Enterprise Risk Management
Specialisation Chartered Governance Professional
Lawyers Chartered Secretaries & Chartered Governance Professionals
King IV CPDs, Webinars, Conference
Professional bodies CSSA
Unemployment Chartered Secretaries Placements