Thesis (M. Com. (Accountancy))--University of the Witwatersrand, Faculty of Commerce, Law and Management, School of Accountancy, 2015. / ABSTRACT The extractive activities industry includes entities that explore for, discover, develop and extract deposits of minerals, oil and natural gases. Recent research conducted has concluded that accounting for the assets and expenditure together with the disclosure requirements in this industry are not comprehensively addressed by current International Financial Reporting Standards (IFRS). The debate surrounding the accounting and disclosure alternatives in the industry as well as movements to standardise them have been ongoing since the 1890s. The latest movement by the International Accounting Standards Board (IASB) resulted in a project team publishing the Discussion Paper DP/2010/1 – Extractive Activities of April 2010 (Discussion Paper). The Discussion Paper presents disclosures determined to provide the most useful information to the users of the industries financial statements. The IASB have paused this topic and it will not be added to the agenda in the near future, however, this Discussion Paper is likely to form the foundation of a new IFRS. This research report will assess how the reserves and related disclosures currently prepared by entities in the mining or oil and gas industry compare to the proposed disclosure requirements of the Discussion Paper. This research report uses a mixed methodology. Quantitative analysis, through the use of a disclosure checklist, dominates the study which covers two years. The results of this study are then qualitatively and compared per proposed disclosure, against market capitalisation, by listing sector, by external auditor and whether the entity has a single or a dual-listing. Overall the study shows that the current disclosures of the entities do not satisfy the proposed disclosures of the Discussion Paper. Entities in the extractive activities industry would need to invest more into financial reporting in order to achieve compliance with the disclosures should they ever form part of an IFRS. The findings do indicate that the number of disclosures provided is dependent on the size of the entity. The two entities PRG/0500709A i found to have the most disclosures are in the gold mining sector and have an alternative listing on the New York Stock Exchange.

There is a renewed interest in further exploring the significance of culture to the accounting disclosure model in view of a highly competitive global business environment. To date, there is no empirical research to investigate this issue with respect to a specific industry, namely banking. There are three main reasons for focusing only on the banking industry (Hooi 2004). First, it is considered to be the most important industry for the country’s economic and financial stability. Moreover, the IASB has recognised its significance by issuing unique accounting standards i.e. IAS30, IAS32 and IAS39. Second, Saidenberg and Schuermann (2003) argue that with the scope and complexity of Basel II, it provides opportunities for researching issues through Pillar 3. Third, with national banking systems being non-homogenous, it is important to investigate the effects of national culture because prior research has argued that cultural differences have partly explained international differences in disclosure framework of accounting systems. The purpose of this study is to apply and extend Gray’s (1988) theoretical framework of national culture with respect to four research questions. First, to contribute to Gray’s (1988) theory of cultural influence on international banking disclosures. Second, to investigate the possible significance of investor protection to the banking disclosure model. Third, to explore Gray’s (1988) theory on the relationship of national culture to capital market research using banking returns. Fourth, to investigate the value relevance of investor protection and banking disclosures to the returns model. Seventeen developed and developing countries with a representative sample of 37 listed domestic commercial banks were examined in 2004. For the disclosure model, the study finds that national culture is a significant factor in the banking industry. Individualism has been found as the primary cultural dimension for banking disclosures. Moreover, the explanatory power of the model significantly improves with the legal dimensions of common law and anti-director rights. The positive association between common law and banking disclosures is consistent with La Porta et al. (1998) which argue that common law countries with stronger investor protection are more transparent than civil law countries. However, there is a negative association between investor protection variable of anti-director rights with banking disclosures. This may suggest that investor protection does not encourage minority investors to enter the stock market specifically in the global banking industry. This situation may lead to a lack of demand for transparency through a smaller dispersion of ownership across the domestic banks. For the returns model, the study finds that national culture is value relevant in the banking industry. Collectivism and power distance have been found to be the two primary cultural dimensions for banking returns. Moreover, the explanatory power of the model significantly improves with anti-director rights and banking disclosures. These results are (1) consistent with La Porta et al. (2002) which argue that investor protection increases firm valuation with respect to Tobin’s Q and (2) international investors tend to support the Basel Committee’s commitment in providing a more transparent framework by implementing Pillar 3 in the near future, starting with the Basel member countries. Finally, an interesting finding from the study is that firm size has a negative association with banking returns.

Die term whistleblowing word universeel aanvaar en daar word ʼn verskeidenheid definisies aangetref. Die eindresultaat van elke definisie bly tog dieselfde en die belangrikste gevolgtrekking wat gemaak kan word is dat ʼn werknemer ʼn beskermde openbaring maak van ongerymdhede in die werkplek en dat hy sodoende beskerm moet word van enige beroepsnadeel. Die doel van ʼn beskermde openbaring lê in die feit dat dit die hoeksteen is waarop individuele verantwoordelikheid van werknemers gebou word. Verder vestig dit ʼn kultuur in die werkplek waar stappe geneem word deur die werkgewer om ongerymdhede te bekamp, deur ʼn beleid en prosedure in plek te stel. Die sukses van die bogenoemde sal dan tot gevolg hê dat werknemers en ook werkgewers ʼn punt daarvan sal maak om op te tree in die openbare belang. Die Wet op Arbeidsverhoudinge 66 van 1995 bepaal dat enige beroepsnadeel wat nie in ooreenstemming met die Wet op Beskermde Openbaarmakings 26 van 2000 is nie, onbillik sal wees. Beide hierdie wette se hoofdoel is om die werknemer te beskerm teen onbillike ontslag, en in die geval van die WBO, spesifiek vir die beskerming van ʼn werknemer wat ʼn beskermde openbaring maak. Die openbaring sal beskermd wees indien die inligting in goeie trou geopenbaar is en as die werknemer ʼn redelike geloof het dat die inhoud waar en korrek is. Die ontslag van ʼn werknemer wat ʼn beskermde openbaring maak, en aan die prosedures soos deur die WBO voorgeskryf voldoen, is egter outomaties onbillik volgens artikel 187(1)(h) van die WAV. Die bewyslas rus op die werknemer om te bewys dat daar ʼn kousale verband bestaan tussen die openbaring wat hy gemaak het en die ontslag of beroepsnadeel wat plaasgevind het. Die openbaarmaker het verskeie remedies tot sy beskikking, maar in die geval van ontslag kan die Arbeidshof ʼn bevel toestaan vir die herindiensneming en/of betaling van kompensasie aan die werknemer. Die doel van hierdie navorsingsvoorstel is om vas te stel wat werknemers se remedies is in die geval waar hulle onderwerp word aan beroepsnadeel as gevolg van die openbaring van inligting binne die werkplek. Hierdie studie sal gedoen word aan die hand van die Wet op Beskermde Openbaarmakings tesame met die Wet op Arbeidsverhoudinge deur die posisie van die werknemer te ontleed vanaf die tydstip toe hy bewus geword het van die inligting, totdat hy sy remedies uitgeoefen het. Daar sal deurlopend na wetgewing en regspraak verwys word om alle opinies en opmerkings te steun. Ten slotte sal daar kortliks vergelykings getref word met internasionale instrumente asook internasionale wetgewing. / Thesis (LLM (Labour Law))--North-West University, Potchefstroom Campus, 2012

Die term whistleblowing word universeel aanvaar en daar word ʼn verskeidenheid definisies aangetref. Die eindresultaat van elke definisie bly tog dieselfde en die belangrikste gevolgtrekking wat gemaak kan word is dat ʼn werknemer ʼn beskermde openbaring maak van ongerymdhede in die werkplek en dat hy sodoende beskerm moet word van enige beroepsnadeel. Die doel van ʼn beskermde openbaring lê in die feit dat dit die hoeksteen is waarop individuele verantwoordelikheid van werknemers gebou word. Verder vestig dit ʼn kultuur in die werkplek waar stappe geneem word deur die werkgewer om ongerymdhede te bekamp, deur ʼn beleid en prosedure in plek te stel. Die sukses van die bogenoemde sal dan tot gevolg hê dat werknemers en ook werkgewers ʼn punt daarvan sal maak om op te tree in die openbare belang. Die Wet op Arbeidsverhoudinge 66 van 1995 bepaal dat enige beroepsnadeel wat nie in ooreenstemming met die Wet op Beskermde Openbaarmakings 26 van 2000 is nie, onbillik sal wees. Beide hierdie wette se hoofdoel is om die werknemer te beskerm teen onbillike ontslag, en in die geval van die WBO, spesifiek vir die beskerming van ʼn werknemer wat ʼn beskermde openbaring maak. Die openbaring sal beskermd wees indien die inligting in goeie trou geopenbaar is en as die werknemer ʼn redelike geloof het dat die inhoud waar en korrek is. Die ontslag van ʼn werknemer wat ʼn beskermde openbaring maak, en aan die prosedures soos deur die WBO voorgeskryf voldoen, is egter outomaties onbillik volgens artikel 187(1)(h) van die WAV. Die bewyslas rus op die werknemer om te bewys dat daar ʼn kousale verband bestaan tussen die openbaring wat hy gemaak het en die ontslag of beroepsnadeel wat plaasgevind het. Die openbaarmaker het verskeie remedies tot sy beskikking, maar in die geval van ontslag kan die Arbeidshof ʼn bevel toestaan vir die herindiensneming en/of betaling van kompensasie aan die werknemer. Die doel van hierdie navorsingsvoorstel is om vas te stel wat werknemers se remedies is in die geval waar hulle onderwerp word aan beroepsnadeel as gevolg van die openbaring van inligting binne die werkplek. Hierdie studie sal gedoen word aan die hand van die Wet op Beskermde Openbaarmakings tesame met die Wet op Arbeidsverhoudinge deur die posisie van die werknemer te ontleed vanaf die tydstip toe hy bewus geword het van die inligting, totdat hy sy remedies uitgeoefen het. Daar sal deurlopend na wetgewing en regspraak verwys word om alle opinies en opmerkings te steun. Ten slotte sal daar kortliks vergelykings getref word met internasionale instrumente asook internasionale wetgewing. / Thesis (LLM (Labour Law))--North-West University, Potchefstroom Campus, 2012

Exploration, production and marketing of oil and gas by listed Nigerian oil and gas companies are fraught with lots of negative social and environmental impacts. Corporate social disclosure is a medium employed by corporations to communicate their impacts and commitments to the society and environment. Therefore, the main aim of this study is to describe and explain social and environmental disclosure practices by listed Nigerian oil and gas companies as gauged with disclosure by listed UK oil and gas companies for the period 2004-2013. The objectives are to determine the nature of disclosures by sampled companies, measure and analyse quantity and quality of the disclosures, analyse trends of the disclosures, find out differences in the disclosures and to explore the effects of corporate characteristics on the disclosures. Content analysis of annual reports and accounts and sustainability reports, scoring quality of disclosures based on Global Reporting Initiative disclosure guidelines, two samples t-tests and Panel Corrected Standard Errors (PCSE) regression analysis were employed to achieve the aim and objectives of the study. Legitimacy debate and vulnerability and exploitability analytical framework were espoused to develop a theoretical framework to underpin the study. Results indicate Nigerian companies making disclosure on fewer social and environmental aspects than UK companies. Quantity and quality of disclosure by Nigerian companies are low compared to UK companies. While quantity of disclosure by both showed increasing trends, quality of disclosure depicted decreasing trends. Sampled companies are found complying with mandatory social disclosure. Corporate size, leverage, efficiency and liquidity are found significant in explaining disclosures by sampled companies. Low quantity and quality of disclosure by listed Nigerian oil and gas companies is indicating low social accountability. This result may be useful to policy makers in the industry to dialogue with managers of the companies on the importance of their social accountability to overall national sustainable development efforts. Likewise, policy makers may put in place regulatory and enforcement mechanisms on social disclosures as mandating disclosure is found effective. Disclosure practices by listed Nigerian oil and gas companies portrayed the significance of colonial relationship between Nigeria and the UK. The use of modified words counts content analysis, and the theoretical framework that underpins the study might be of significance in this study in particular and social disclosure studies in general.

This thesis examines the concept of EU corporate tax abuse in light of the tensions between the protection of EU Fundamental rights and the susceptibility of those rights to abuse. Consideration is given to the major tax abuse practices and arrangements, accompanied by analyses of the responses of a selection of EU member states, and the role and impacts of judicial, state and commercial stakeholder interests. Consequent upon an examination of why past proposals have failed to attain either policy adoption or policy success, it is suggested that the legal concepts of abuse of rights, substance over form and proportionality may be of value in assessing and validating a corporate tax abuse proposal. It will be argued that Member State tax rules and policy initiatives to date have been unsuccessful in eradicating the effects of corporate tax abuse deriving from the exploitation of Fundamental Freedoms and that this failure is attributable to reasons of poor transactional data lineage and disclosure, unresolved political and judicial conflicts between balancing Member State rights with the Internal Market ideal and from a corporate culture that is incentivised to circumvent tax rules with limited recourse. Following an assessment of whether reform should focus on transactional based tax rules or on a broader legal framework to induce taxpayer behavioural changes, it is contended that EU corporate tax abuse can be addressed by rejecting the traditional ideals of tax harmonisation, formulary apportionment, and principles or rule-based tax law approaches as a complete solution. An effective scheme of reform should instead be based on Enhanced Disclosures and Attestation incorporating country-by-country reporting, additional reporting metrics and legal attestations, underpinned by civil and criminal penalties.

abstract: The study explores the differing roles that a top management team (TMT) and a board play in providing a firm the knowledge to improve its absorptive capacity. Building on the distinction between potential and realized absorptive capacity, initially posited by Zahra and George (2002), I argue that a firm's board of directors and its TMT both act to fill the critical role of knowledge gatekeepers identified by Cohen and Levinthal (1990). But, they play different roles in a firm's efforts to acquire, assimilate, transform and exploit novel information. The engagement of board members with environmental planning through personal experiences as well as prior and current ties shapes the ability of the firm to acquire (i.e., identify and obtain) and assimilate (i.e., analyze, understand, and evaluate) valuable external knowledge. However, because they lack the required in-depth knowledge of the firm's internal operations, they are unable to complete the gatekeeping role. The latter stages of that role depend on the abilities of the TMT to transform (i.e., internalize and converse) and exploit (i.e., use and implement) that knowledge, which depends heavily on their engagement with environmental activities through prior experiences. Thus, the board and TMT are only able to fulfill the roles of knowledge gatekeeper collectively. I develop a set of hypotheses from this core proposition, which I test using the participation of U.S. firms in the Carbon Disclosure Project (CDP). Extremely detailed data on 354 firms from 2008 to 2015 allows me to examine multiple sequential processes, including the decision to participate in the CDP performance relative to the core CDP goal, current internal systems, policies as well as plans, and capabilities to breakdown emissions along various production processes to reduce greenhouse gas emissions. / Dissertation/Thesis / Doctoral Dissertation Business Administration 2018

Bakgrund Börsnoterade bolag väljer idag att lämna ut en stor mängdfrivilliga upplysningar trots att dessa kan medföra kostnader samt konkurrensnackdelar. En trolig förklaringsfaktor till detta är enligt tidigare studier ledningens kompetenssignalerande.Tanken är att begåvade företagsledare vill stärka sitt egetpersonliga varumärke och marknadsföra sin egen kompetens viaupplysningarna. Med dessa antaganden i åtanke skulle det vara rimligt att anta att det sker förändringar i mängden frivilligaupplysningar när en ny VD eller CFO tillträder och vill sända signaler samt sätta sin egen personliga prägel på företagets externa kommunikation. Syfte Syftet med denna studie är att förklara hur ett byte av VD eller CFO påverkar företags frivilliga upplysningar under räkenskapsåret efter bytet. Metod Denna kvantitativa studie genomfördes med en deduktiv ansats samt en tvärsnittsdesign. Slutsats Studien visade på att ett CFO-byte resulterade i en ökad mängdfrivilliga upplysningar. Studien visade dessutom även att en externt rekryterad CFO leder till fler frivilliga upplysningar än en internt rekryterad CFO. Därutöver kunde studien också visa på vissa indikationer gällande ett positivt samband mellan VD:s ägarandel i företaget samt en ökning av de frivilliga upplysningarna under kommande räkenskapsår. Motsvarande samband för CFO gick dock inte att identifiera. / Background Listed companies choose to voluntary disclose a lot of information even though it could entail costs and competitive disadvantages. A likely explanatory factor for this in earlier studies has been the managements wish to signal their competence. The thought is that gifted managers wish to improve their own personal trademark and to promote their own competence via the voluntary disclosures. With these assumptions in mind, it would be fair to assume that changes in the amount of voluntary disclosures will occur when a new CEO or CFO steps in and wishes to signal competence and add theirown personal touch on the company’s external communication. Purpose The purpose of this study is to explain how a change of CEO or CFO will affect the corporation’s voluntary disclosures in the following fiscal year. Method This quantitative study was performed with a deductive approach and a cross-sectional design. Conclusion The study showed that a change of CFO resulted in an increased amount of voluntary disclosures by the companies. The study also found that an externally recruited CFO will disclose more than an internally recruited CFO. In addition the study also showed indications of a positive relation regarding a CEO’s share of the company and an increase of the voluntary disclosures int he next fiscal year. The same relation could not be observed to also apply for CFO’s.

The main focus of this dissertation is to examine the operation of whistleblowing within an organisation. Whistleblowing constitutes an act by an employee to expose perceived unlawful activity by an employer or employee, within an organisation or company, to an authority in the position to redeem the situation. It is based on the presumption that any kind of business or organisation has to be governed by laws in order to protect society from fraudulent and corrupt practices. In South Africa, the Protected Disclosures Act of 2000 (PDA) sets out a clear and simple framework to promote responsible whistleblowing by reassuring workers that to remain quiet about perceived malpractice is not the only safe option and is aimed at safeguarding the employee who raises concerns. Thus, from a legal perspective, an employee making a disclosure under certain circumstances and prerequisites enjoys full protection of the law. Whistleblowing is thus not just about anonymously informing, but rather about raising a concern. However, whistleblowers, even if they act in good faith often risk recrimination, victimisation and sometimes dismissal. Therefore, in order to determine whether the PDA is applicable, certain criteria have to be met, pertaining to the definition of disclosures and of occupational detriment. A number of consequences may follow from the contravention of the PDA. The Act provides mechanisms for the employee to disclose sensitive information regarding alleged improper conduct by the employer. In order to enjoy the protection of the act the employee must have trusted the disclosed information to be true. However, not all disclosures constitute protected disclosures, and for the purposes of the PDA certain requirements have to be met. When it comes to automatically unfair dismissals, the most difficult issue remains that of causation. It is a courageous effort to blow the whistle on perceived corrupt or illegal practices by an employer of any kind, and such an action is often met with harsh retaliation. Therefore employees often remain reluctant to speak out about practices that might threaten the higher echelons of their organisational hierarchy. On a personal level, blowing the whistle may have severe consequences for the individual; dismissal being but one of them. Internationally there is growing recognition that the act of whistleblowing is healthy and necessary for organisations in order to control corruption and illegal practices. The international community has also implemented a variety of whistleblowing laws and procedures for protecting and encouraging those who speak out. / Dissertation (LLM)--University of Pretoria, 2011. / Mercantile Law / unrestricted

Background and Problem: Sustainability reporting is a growing trend in the society. One of the most exposed industries to environmental matters is the oil and gas industry, which commit to sustainability reporting in order to deal with the industry’s destructive operations. The Global Reporting Initiative (GRI) provides voluntary guidelines in sustainability reporting, which increase transparency for the company’s stakeholders. However, it is controversial that the oil and gas industry put a great effort into sustainability reporting even though the industry is environmentally destructive. This gap is interesting to investigate and will contribute to the academic discussion. Therefore, this thesis will focus on the sustainability reporting in the oil and gas industry and to what extent the industry actually discloses material environmental information about their operations. Purpose: The purpose of this thesis is to examine how the sustainability reporting has changed in the oil and gas industry in Europe. This is performed from a stakeholder perspective. Further, it aims to investigate how oil and gas companies have followed the GRI guidelines and how the reporting has changed over time. Method: A quantitative method is used in order to answer the research questions. The data sample is based on oil and gas companies reporting according to the GRI framework during year 2012 to year 2014. The empirical data is gathered from the studied companies’ environmental category in their sustainability reports. Further, a content analysis technique, with a coding scheme, was set up to interpret and analyse the information. To enable an easy overview of the findings, the relevant data is presented in tables and diagrams. Empirical Findings and Conclusion: The majority of the studied companies have increased their level of compliance in the environmental category. Although, the majority of the companies have increased their reporting, the compliance level differs between the companies. The most reported sectors are the; “Water”, “Biodiversity”, “Emissions”, “Effluents and Waste”, “Compliance”, and “Overall”. Further, the empirical findings show that there is an overall increase in the amount of disclosed information per indicator. The conclusion of this thesis is that the environmental disclosures have increased in the oil and gas industry from year 2012 to 2014.