Dr Terrence on CNBC Africa
Addressing corporate governance challenges in SA
South Africa previously had a reputation, globally, for high corporate governance standards, yet recent news suggests otherwise, as respected names have been implicated in corrupt dealings. What has gone wrong in these companies?
In the current state of business in South Africa, the levels of corruption and become more and more apparent. Corruption, collusion and a clear loss of ethical leadership, failures of governance and loss of faith and capabilities in auditing firms and their employees, has plans to sell African economy and the stock exchanges into volatile times.
The various contributing factors to corrupt practices, have in the past and are currently directly impacting the cost-of-living in South Africa.
CNBC Africa, interviewed Dr. Terrence Kommal, to seek his insights and inputs, if what he believed were the contributing factors to the increased levels of corruption, the failures of leadership, the loss of morals and ethics, corporate governance failures and the impact of auditing firms and auditors not doing their ethical duties.
Large international firms, and state-owned entities are directly contributing and are impacted by the above detailed failures.
Watch the video now.