In the period leading up to the early 2000s there were a series of large company failures attributed at least in part to audit failures. Consequently, the Sarbanes Oxley Act (SOX) was promulgated in July 2002 to restore confidence in public company financial reporting and the work of auditors. The Public Company Accounting Oversight Board (PCAOB) was established by SOX and appointed as the regulator of the accounting firms that audit the financial statements of public companies. The PCAOB is required to routinely inspect the operations of these accounting firms in an effort to satisfy its mandate to bring about an improvement in the audit quality of these companies. These inspections extend to the non-US auditors of companies that are cross-listed in the US. Despite various mainly US studies on inspections, there is limited evidence that the inspections have resulted in improved audit quality. ... I examine companies whose securities are cross-listed in the US in the periods before and after inspection in order to provide evidence on the benefits of inspections. I find some evidence that inspections improve the audit quality of companies that are cross-listed in the US. This suggests the audit quality of companies from countries that do not permit inspections may be positively affected should inspections be permitted. / by Errol G.G. Stewart. / Thesis (Ph.D.)--Florida Atlantic University, 2012. / Includes bibliography. / Mode of access: World Wide Web. / System requirements: Adobe Reader.

Corporate governance of Thailand has been developed and reformed, particularly after 1997 Asian financial crisis. However, problems regarding director’s responsibilities are still entrenched in company law and corporate practices. The challenges of Thai corporate governance on director’s responsibilities are found in the areas of director’s accountability and minority shareholders protection. Legal provisions on director’s fiduciary duties and director’s duty of care and skill are unable to regulate director’s misbehaviors. Directors are not fully aware of their proper responsibilities to the company. They tend to act for their own interest or interest of their group, the controlling shareholders. In addition, legal enforcement on director’s responsibilities is not effective in practice. Shareholders litigation or other actions against directors who are in breach of their duties is rare, though there is derivative action provided as remedy for minority shareholders. In finding solutions for those problems, all relevant aspects should be brought into consideration. Corporate governance on director’s responsibilities is related to law, business and ethics. Director’s responsibilities are matters concerning human conducts, actions, behaviors as well as practices. They are related to ethics of each company director and ethics of the board members as a whole. In addition to legal and business aspects, ethical aspect should also be considered in the reform of corporate governance on director’s responsibilities of Thailand. This thesis is the study of Thai corporate governance on director’s responsibilities and ethics in order to find appropriate ethical theory where good corporate governance principles will be built on. Among relevant ethical theories i.e. utilitarianism, Kantian ethics, virtue ethics and contractualism, virtue ethics of Aristotle is the most appropriate ethical theory to be applied to corporate governance on director’s responsibilities of Thailand. It is suitable for the nature of corporate governance on director’s responsibilities, the conditions underlying its problems, and the understanding and practices of people in Thai society. Virtues and means of virtue ethics should be applied as complements to fiduciary principles for enhancing director’s accountability. The doctrine of mean of virtue ethics should be applied as complement to derivative action for enforceability and effectiveness of minority shareholders protection. In this regard, some related regulations and codes of best practices will be prescribed by adopting appropriate virtues or means, and the relevant regulators i.e. the Securities and Exchange Commission (the SEC) and the Stock Exchange of Thailand (the SET) will be given authority to interpret and apply such regulations and codes of best practices on a case by case basis. / published_or_final_version / Law / Master / Doctor of Legal Studies

Consumer protection policy measures can enable consumer behaviour shifts in favour of more sustainable choices. Whilst government is responsible for developing consumer protection policy in a particular country, business is central in the implementation of such policy. In South Africa, there is disassociation in consumer protection policy and environmental policy where consumer protection policy is the responsibility of the Department of Trade and Industry, whilst sustainability is located under the Department of Environmental Affairs. As a result, South African consumer protection policy does not holistically incorporate sustainability. A six-step qualitative research process was adopted to develop a framework to implement sustainability into consumer protection policies. First, a theoretical framework for incorporating sustainability into consumer protection policy was developed to structure the qualitative research. Four dimensions for incorporating sustainability into consumer protection were then identified. Qualitative data was collected using an open-ended questionnaire and also content analysis of existing data. Two sets of experts further reviewed and critiqued the proposed framework. The results of the qualitative enquiry, in particular, showed that for all the countries examined, some at least had sustainability consideration elements in their policies, but this was evident to a lesser extent in African countries, particularly those with less-developed economies. On the other hand, policy mechanisms that promoted sustainability were more evident in the policies and laws of developed countries. In the case of most African countries, basic needs were foregrounded as the primary concerns of consumers, ahead of sustainability concerns. Further, poverty limited consumer choices, particularly if more sustainably produced and eco-efficient goods came at a higher price. The research also underscored the importance and centrality of consumer education and stakeholder engagement for achieving sustainability policy intentions. It further confirmed that the basic needs of poor consumers in South Africa, and the impact of poverty on sustainability policy intentions must underpin the proposed framework. Factors that created an enabling environment for the implementation of the framework were identified as policy harmonisation within government policy domains, joined-up government, good corporate governance and shared value that considered the needs of future generations and consumer education. These factors would create an enabling environment for policy implementation. Consumer policy could play a key role in the choices that consumers make and, if well-designed and implemented, could direct consumer spending in support of the goal of sustainability and sustainable consumption. The proposed framework provides a foundation on which to futher refine and develop consumer protection policy that incorporates the well-being of consumers and social justice. Using consumer spending to drive sustainability requires a deliberate intention on the part of policy makers to move away from the more conventional framing of consumer policy, which has tended to focus on the economic interests of consumers, such as price, quality, choice and redress. However, modern business is shifting towards a more holistic conceptualisation of sustainability, as a value that needs to be deliberately and consciously built into the design and essence of a business. Doing so is not only good corporate citizenship, but offers a competitive advantage, which could drive product demand and attract consumers.

Thesis (LLM.) -- University of Limpopo, 2017. / The introduction of the King reports on corporate governance in South Africa introduced good corporate governance principles to be applied by companies and entities; public, private and state-owned companies. The lxxvpurpose of King I, II, III and draft King IV on corporate governance is to provide and promote a good transitional process in companies in order for them to showcase the principles of accountability, sustainability and transparency; which are the fundamental aspects of which every company has to adhere to in order for it to be a good corporate citizen of the state. Ethics as mostly dealt with in draft King IV being the founding principles of good corporate governance. The trends across the domains show a lack of good corporate governance between the shareholder, board and management with displacement of the controlling and managing abilities between the parties. Despite continued upheavals, repeated disappointment and financial shortcomings the government continues to bail state-owned airlines from a state of insolvency. This study aims to analyze the application of the corporate governance principles in the aviation sector looking closely into state-owned airlines.

Thesis (LLM.) -- University of Limpopo, 2017. / Good corporate governance is essentially about effective, responsible leadership. This is characterized by the ethical values of responsibility, accountability, fairness and transparency, which values underpin good corporate governance. After the promulgation of the Kings Code, amendment of the Companies Act and the promulgation of the Public Financial Management Act, it has been shown that most of the leadership and board of directors in state owned entities have not been following the guidelines and principles provided in these legislations and that’s why most of them are in disarray. It is, therefore, the objective of this research to help restore the integrity and confidence in state owned entities and the need to a draw the line between personal interest and that of the company. An appropriate approach will be to conduct training or a workshop, whereby appointed persons can be reminded of how to discharge their rights and duties before they are instated into a particular post.

Thesis (LLM (Mercantile Law))--University of Stellenbosch, 2005. / Corporate governance is defined as the system by which companies are managed and controlled. The concept came to the fore with the Cadbury Report in England in 1992 and has since been the topic of much academic discussion. The recent collapse of companies like Enron and WorldCom raised serious questions about international corporate governance practices. This has resulted in widespread reform. In the United States large-scale prescriptive measures were implemented through the enactment of the Sarbanes-Oxley Act. The United Kingdom persisted with their principle-based approach of comply or explain, although some amendments were made to the Combined Code through a joint effort by the Co-ordinating Group on Audit and Accounting Issues, the Smith Report and the Higgs Report. In Australia change took the form of the ASX Corporate Governance Principles and CLERP 9. South Africa, influenced by its common law background, followed a similar approach to that of the United Kingdom but has recently adopted a more prescriptive approach similar to that of the US. The King Committee was set up to review corporate governance in South Africa and two reports report were published – one in 1994 and another in 2002. Amendments to the JSE Listings Requirements followed. The Konar Report made recommendations on the reform of the accounting and auditing profession. The Department of Trade and Industry has recently launched a review of South African company law in conjunction with a review of the audit and accounting professions. These recent developments in company law will however not be discussed in depth as it is at a very early stage and is still subject to change. The aim of this study is to evaluate and determine whether or not the reform in South Africa is adequate to address the questions raised by recent corporate scandals in South Africa. The question also has to be asked whether South Africa should follow international trends in reform just for the sake of reforming. This requires an understanding of the principles underlying corporate governance and the reasons for the existence of corporate governance rules. With the increasing separation between ownership and control the accountability of directors has waned considerably. When addressing corporate governance issues, this must be kept in mind constantly. While the focus of recent reform has been on the company, its directors and auditors, the role of shareholders should not be ignored. What is needed to prevent directors and managers from abusing their positions of power are more informed and involved shareholders. The different role players must also cooperate in developing a culture of ethical behaviour and an environment of openness and accountability.

Thesis (LLM. (Development and management law)) -- University of Limpopo, 2012 / This mini-dissertation highlights corporate governance initiatives in South Africa, focusing on the proposed governance reforms. An analysis of the major corporate governance reform is done including, statutory reforms, development of codes of conduct and practice and institutional reforms. The evolution of South Africa’s corporate structure and forces driving corporate governance is examined. It is noted that corporation in South Africa cannot shield themselves from the global movement shaping the standard principle governing corporations. Therefore the global principle corporate governance are examined concerning how they can serve as models for enhancing corporate governance standard in South Africa. The analysis is based on the need to bring South Africa’s corporate governance in line with international accepted standard but considering the best interest of South Africa and its citizen.

Thesis (LLM. (Labour Law)) --University of Limpopo, 2014 / This mini-dissertation discusses the application of the principles of corporate governance in the Musina Local Municipality. It further discusses the legislative framework and the institutions of government which are responsible for the effective implementation of corporate governance in the local government sphere. It further discusses the challenges faced by Musina Local Municipality which are ranging from fraud and corruption and poor financial management and this result in poor service delivery.

Thesis (LLM. (Labour Law)) --University of Limpopo, 2014 / This mini-dissertation discusses the application of the principles of corporate governance in the Musina Local Municipality. It further discusses the legislative framework and the institutions of government which are responsible for the effective implementation of corporate governance in the local government sphere. It further discusses the challenges faced by Musina Local Municipality which are ranging from fraud and corruption and poor financial management and this result in poor service delivery.

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