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Rating corporate governance: the delicate balance between disclosure, compliance and performance

Rating corporate governance: the delicate balance between disclosure, compliance and performance. Daniel Malan Head: Unit for Corporate Governance in Africa KPMG Special Advisor: Ethics and Governance. Unit for Corporate Governance in Africa. Our mission

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Rating corporate governance: the delicate balance between disclosure, compliance and performance

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  1. Rating corporate governance: the delicate balance between disclosure, compliance and performance Daniel Malan Head: Unit for Corporate Governance in Africa KPMG Special Advisor: Ethics and Governance

  2. Unit for Corporate Governance in Africa • Our mission • To develop both the compliance and the performance aspects of directors’ attitudes, knowledge and skills, as well as the link between corporate governance, business ethics and total organisational performance • From our manifesto • Effective corporate governance is the key to building stable and healthy institutions in a nation. These institutions include listed and unlisted companies, central government departments and agencies, state-owned enterprises, regional and local government organisations, family businesses, charities and non-profit organisations

  3. PIC Corporate Governance Rating Matrix • Joint venture: PIC & Unit for Corporate Governance in Africa • Developmental tool, aimed at assisting companies to improve their corporate governance performance and reporting • Will have an impact on PIC investment decisions • 2009 – Pilot Version • Top 40 companies • No public disclosure of results

  4. The Team PIC Deon Botha Issue specific input Stephen Davies (Yale) Paul Lee (Hermes EOS) Jako Volschenk (USB) Statistical validation Martin Kidd (Centre for Statistical Consultation, Department of Statistics and Actuarial Sciences, University of Stellenbosch) • Experts • Bob Garratt • Philip Sutherland • Tom Wixley • Kwanele Gumbi • Unit • Thina Siwendu • Daniel Malan • Glen Davison • Matseko Mohlaba • Anna Yortt • Adrian Bertrandt

  5. The Model

  6. The Matrix

  7. The Way Forward • 2010 • Top 40 companies • Changes based on experiences during pilot • Changes based on King III • Possibly public disclosure of results • 2011 and beyond • Public disclosure • Top 100 companies • Comparative information

  8. The learning board basic framework Accountability Policy formulation External Business Brain Board performance Board conformance Supervising management Strategic Thinking Internal Short term Long term Source: Bob Garratt (Thin on Top)

  9. The learning board basic framework & King III Accountability Policy formulation External Ethical leadership and Corporate citizenship Audit committee Integrated reporting Compliance Boards and Directors Board performance Board conformance Risk IT Internal audit Stakeholder management Supervising management Strategic Thinking Internal Short term Long term

  10. daniel.malan@usb.ac.za 083 5611292 www.governance.usb.ac.za

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