Category Archives: Business

Business Rescue Options: Going the Informal Route v the Companies Act Route

The business rescue provisions in the Companies Act are regarded as progressive and world class and there is evidence that it has worked well. Yet a 2016 survey showed that more distressed businesses opted for an informal approach and appear … Continue reading

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Companies: What is an Alternate Director? A Curious Role…

“‘Alternate director’ means a person elected or appointed to serve, as the occasion requires, as a member of the board of a company in substitution for a particular elected or appointed director of that company” (Companies Act) Situations can arise … Continue reading

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How You Can Detect Fraud in Your Business

Few things are as devastating to a business’ reputation as internal fraud – it undermines staff morale and creates a new uncertain relationship with stakeholders such as suppliers, investors and compliance authorities. News bulletins and newspapers all talk of the … Continue reading

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The CIPC Is Taking On Wrongdoing by Directors – A R4.3bn Example

The Companies and Intellectual Property Commission (CIPC) has often been viewed as just an administrator and recorder of decisions made by companies. In February however, the CIPC issued a Compliance Notice to the Public Investment Corporation (PIC) instructing it to … Continue reading

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Companies: Don’t Inadvertently Encourage Unethical Behaviour

“So much of what we call management consists in making it difficult for people to work” (Peter Drucker) In a recent interview of a prosecutor, he expressed surprise that most of the people charged with commercial crime were normal and … Continue reading

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How to Improve Risk Management in Your Business

Risk management has become increasingly popular in the past twenty years. It is also a corner stone of good governance. Despite this increased focus, businesses are still being blindsided by events which result in high costs being incurred. Potential problems … Continue reading

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Does “The Company” Still Have A Role To Play?

Concepts the West has taken for granted are now being openly questioned, such as, is liberalism bad, is capitalism flawed, and does the company deliver what it set out to do? These are valid questions and we should re-evaluate these … Continue reading

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AI and the Changing Face of Jobs: Good News if We React Now

“Artificial Intelligence is a tool, not a threat” (Rodney Brooks, Roboticist) There has been fear that the rise of Artificial Intelligence (AI) and robots will considerably reduce the work force. New research concludes that there will be winners and losers … Continue reading

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Directors: Fighting Corruption via Your Social and Ethics Committee

“South Africa has lost R700 billion to corruption over the last 20 years” (Institute of Internal Auditors) The Companies Act requires a company to set up a Social and Ethics Committee if it is: A listed company A state owned … Continue reading

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Changes Are Coming to The Companies Act – Be Ready for Them

Cabinet has approved the most wide ranging amendments to the Companies Act (the Act) since its launch in 2011. Some of the important issues are briefly highlighted below. They are of course only proposed changes at this stage, published for … Continue reading

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