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GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

PRESENTATION ON GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs) AT THE ANAN RETREAT BY: MR . VICKSON NCUBE CHIEF EXECUTIVE OFFICER - PAFA 28 – 29 October 2013. Main objective

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GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

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  1. PRESENTATIONON GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)ATTHE ANAN RETREATBY:MR. VICKSON NCUBE CHIEF EXECUTIVE OFFICER - PAFA 28 – 29 October 2013

  2. Main objective • To accelerate the development of the accountancy profession in the Africa and strengthen the voice of the accountancy profession within Africa and worldwide. • Vision • To be globally recognised as the influential voice of the accountancy profession from Africa. • Mission • To work in the public interest by leading and developing the accountancy profession in Africa and delivering value to its members. GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

  3. GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs) PAFA MEMBERS BY COUNTRY

  4. GOOD GOVERNANCE • The creation of institutional frameworks that enable an organisation deliver on its objectives, vision and mission. • PILLARS OF GOOD GOVERNANCE • Good enabling Law • Good Constitution • Good By Laws • Well meaning leadership GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

  5. GOOD GOVERNANCE • Well meaning leadership will ensure that it interprets the law, constitution and by laws for the benefit of the organisation GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

  6. BEST PRACTICE • There will be situations that will arise in any PAO that cannot be resolved with reference to the law, constitution or by laws. Such situation will require a leadership that looks at what other similar well run PAOs resolve such situations. This is what BEST PRACTICE is all about. GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

  7. GOOD GOVERNANCE STRUCTURES • General Assembly • Open to all members • Overall policy direction • Open and robust debates on issues • Open, fair and transparent periodic elections GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

  8. GOOD GOVERNANCE STRUCTURES (CONTINUED) • Governing Board/Council • Representative of will of the members • Should include other stakeholders • Responsible for developing strategies to address policies. • Appoint CEO • Delegate authority to CEO GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

  9. GOOD GOVERNANCE STRUCTURES (CONTINUED) • Management • Headed by CEO • CEO must be Chief Executive Officer and not Chief Executing Officer) • Strategy delivery • Periodic reports to Board/Council GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

  10. GOOD GOVERNANCE STRUCTURES (CONTINUED) • Leadership • To provide a viable link between Board and management, the President (or Presidency)and Chief Executive Officer must be the leadership of the organisation. GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

  11. PAO is larger than individuals or and Board or Committee GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

  12. Ladies and gentlemen I thank you. • Vickson Ncube • Chief Executive Officer • PAN AFRICAN FEDERATION • OF ACCOUNTANTS – PAFA • Integritas II • 7 Zulberg Close • Bruma Lake, 2198 • PO Box 59875 • Kengray, 2100 • Johannesburg, South Africa • Email:vicksonn@pafa.org.za • Telephone +27 (011) 479 0602/4 • Website: www.pafa.org.za GOOD GOVERNANCE AND BEST PRACTICE IN MANAGEMENT OF PROFESSIONAL ACCOUNTANCY ORGANISATIONS (PAOs)

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