Fraud and corruption cost South Africa billions of rand yearly. Institutions of higher learning are no less vulnerable to fraud and corruption than other organisations, but are also subject to risks that are unique to academia. The Public Finance Management Act. No.1 of 1999 requires Public entities including the councils (university or college controlling body) of public institutions of higher learning to adopt enterprise risk management, which includes a fraud and corruption risk management policy and procedures. The function of the fraud and corruption policy is to provide an objective strategy to prevent, detect and investigate any possible irregularity in order to prevent further loss in line with Corporate Governance requirements. The anti-fraud and corruption strategy measures include setting the appropriate tone by management of the institution, being proactive (fraud risk assessments), and being reactive (reporting process, investigation and taking appropriate action). The actions include disciplinary action and criminal or civil proceedings in order to recover assets lost. The procedures address the implementation of the policy. This research focused on identifying the relevant issues that could be included in the formulation of fraud and corruption risk management policies and procedures for institutions of higher learning. The research was conducted using a qualitative methodology consisting of a document analysis and interviews. It was found that, out of eleven institutions of higher learning investigated only one institution meets the criteria set out in the framework developed in the research as an assessment tool. The other institutions involved in the research did not have fraud and corruption risk management policies or procedures and therefore did not comply with the Public Finance Management Act.

This study investigates whether stock prices in South Africa are influenced by macroeconomic variables, and furthermore, the effects of financial crises on stock prices. The relationship between stock prices and the macroeconomy is a particularly important issue for investors, since a thorough understanding of such a relationship is likely to yield profitable or risk mitigating opportunities. Using monthly data for the period 1995 to 2010 the study focused at a macro level using the FTSE/JSE All Share Index, and at a micro level using sector indices. These included the construction and materials, financial, food producers’, general retailers, industrial, mining and pharmaceuticals indices. The Johansen and Juselius (1990) multivariate cointegration approach was employed, along with impulse response and variance decomposition tests to address the issue. The results showed that macroeconomic variables do have a significant influence on stock prices in South Africa. Also, the influences of these variables were found to have an inconsistent effect across the sectors under investigation. For example, inflation was found to negatively influence the All Share Index, but impacted the industrial index positively. These inconsistent influences on the various sectors were seen to have important diversification implications for investors. The impact of past financial crises proved to be significant on certain indices, however, indices such as that of the pharmaceuticals sector was found to be largely unaffected by such crises. The findings of the study were discussed through an investor’s perspective, and recommendations on investment decisions were given. The limitations of the study were such that certain results may have been influenced by a mis-specification of variables, particularly the Treasury bill rate.

This Research Report that this research was motivated by the fact that despite thetremendous achievements have been realized from the successful implementation ofgovernment programmes and projects related the construction and refurbishment of medical facilities, educational, bridges and road infrastructure facilities. Trends indicate that only iota of evidence implies that the concept of risk management is fully integrated and embraced as part of a culture for ensuring the successful project implementation by the Modern South African public sector organizations. Empirical research revealed that the common types of risks that have been affecting the successful implementation of government projects and programmes include: riots, fraud, corruption, changes in demographic figures, outsourcing risks, and floods and changes in weather. Most of the participants stated that risks associated with riots do not only arise from the riots within the government departments, but also in the external environment. In terms of the internal riots, they revealed that when the employees go on strike or riots on their own or in solidarity with the other trade unions, leading to the process for the implementation of government projects and programmes being affected. Yet, in certain cases, they noted that internal riots or strikes most occur as preceded by rumours that the riots by a particular union will take place and may significantly affect the ongoing process of implementation of government programmes. Besides risks associated with the internal riots by the employees and the communities, the interview findings also indicated that the other forms of risks arise from the strikes and riots by the private enterprises.

D. Tech (Department of Human Resource Management, Faculty of Management Sciences), Vaal University of Technology. / The expectation by South Africans is that the public sector must contribute positively to the economy. However, the general perception is that the public sector is failing to fulfil its mandate due to systemic problems in the entire public sector. Its supply chain in South Africa is both volatile and imperfect. This is demonstrated by the level of service delivery protests, which emanate from the feeling that the public is not receiving the quantity or quality service that they need. This study aimed to assess the relationship between supply chain risks, supply chain flexibility and supply chain performance in the South African public sector. A conceptual framework was developed, which included six supply chain risk factors, namely, government policies, supply complexity, availability of skills, supplier performance monitoring, information security and process efficiency, which feed into supply chain flexibility, which in turn leads to supply chain performance. Seven hypotheses underlying these relationships were put forward for testing. A quantitative approach using the cross-sectional survey design was adopted in which a questionnaire was distributed to 306 conveniently selected supply chain professionals who were based in Gauteng province. Items used in the survey questionnaire were adapted from previously validated scales. A confirmatory factor analysis was conducted to test the psychometric properties of the measurement instrument. Descriptive statistics were used to analyse the perceptions of respondents towards the factors under consideration in the study. Hypotheses were tested using the structural equation modelling approach. The results of the study show that the threat from supply chain risks in the South African public sector remains high, and that flexibility and performance of the supply chain remains unsatisfactory. Hypotheses tests showed that all six supply chain risks significantly predicted supply chain performance. While the other supply chain risks were positively related to supply chain flexibility, the relationship between the flexibility and supply complexity was negative. Amongst the supply chain risks considered in this study, availability of skills emerged as the strongest predictor of supply chain flexibility. The study further showed that supply chain flexibility significantly and positively predicts supply chain performance. Theoretically, the study provides a specific conceptualization of the relationship between supply chain risks, supply chain flexibility and supply chain performance within the South African public sector, where no such study has been conducted before. Practically, it provides information to supply chain professionals in the South African public sector regarding the improvement of supply chain performance. The study underscores that the performance public supply chain in South Africa can be improved by managing the six risks considered in this study, and their contribution to supply chain flexibility.

Thesis submitted in fulfillment of the requirements for the degree of Master of Management in Finance & Investment In the Faculty of Commerce and Law Management Wits Business School at the University of the Witwatersrand, 2015 / Risk based pricing has been a topic of discussion since the 2008 financial crisis as a result of the on-selling of packaged sub-prime assets. This paper will highlight the importance of correctly assessing risk within the framework of consumer credit provision. We will begin with a brief overview of the South African unsecured lending market, look into the definition of risk based pricing and the impact it has had in the market and conclude the paper by using a model by Robert Phillips to calculate the interest rate to be offered to a customer. / AC2016

Risk management strategy is a broad discipline aimed at identifying, evaluating and handling risks by both physical and financial means. The medical aid industry in South Africa has experienced a disproportionate increase in expenditure relative to the overall economic growth. These cost pressures have placed restraints on their ability to obtain new members, which is vital when subsidizing higher risks with younger healthier members, and has resulted in losses for many schemes. Compounding the problem has been political and regulatory health care reforms as well as technological advances, which have initiated a complete restructure of the industry. This dissertation reviews the risk management strategies implemented by medical insurers in South Africa. An analysis of alternate risk management strategies is taken with the view of recommending a tentative means of making medical aids more efficient in an increasingly difficult market. / Business Management / M. Comm. (Business Management)

Risk management strategy is a broad discipline aimed at identifying, evaluating and handling risks by both physical and financial means. The medical aid industry in South Africa has experienced a disproportionate increase in expenditure relative to the overall economic growth. These cost pressures have placed restraints on their ability to obtain new members, which is vital when subsidizing higher risks with younger healthier members, and has resulted in losses for many schemes. Compounding the problem has been political and regulatory health care reforms as well as technological advances, which have initiated a complete restructure of the industry. This dissertation reviews the risk management strategies implemented by medical insurers in South Africa. An analysis of alternate risk management strategies is taken with the view of recommending a tentative means of making medical aids more efficient in an increasingly difficult market. / Business Management / M. Comm. (Business Management)

Energy conservation, efficiency and renewable energy have become a vital part of everyday life and business. The increase in energy cost and the consequences of greenhouse gas emissions necessitates energy management and in particular energy risk management within organisations. Organisations need to manage the possible negative effect that the increased costs will have within the organisation. The present research investigated the introduction of a structured approach to energy risk management within the financial services sector of South Africa. The research followed a quantitative, non-experimental research design by using a structured questionnaire. The questionnaire was sent to managers within the financial services sector. The research investigated the criteria for the implementation of a structured approach to energy risk management such as organisational requirements (culture, corporate social responsibility, management, and finance), governance, energy strategies (energy conservation, efficiency and renewable energy), risk identification, risk management and lastly communication and review. The research found that the structured approach to energy risk management should include the context within the organisation namely organisational requirements, governance and energy strategies. Thereafter the risks within the energy strategies need to be identified, analysed and evaluated, and control measures need to be implemented. It is important to monitor the various energy strategies continuously in order to identify corrections and implement preventative actions. The strategies need to be reviewed and communicated in terms of the various strategies to all stakeholders within the organisation in order to set continual improvement plans. Risk management should form part of the energy management strategies of organisations. The research showed that energy risk management plays an important role in the overall business strategy and that the vast majority of financial services organisations have already implemented some form of energy management. There are however aspects that are still lacking within management strategies that need attention. / D. Phil. (Management Studies) / Business Management

The emerging financial industry of asset-backed short-term finance was investigated by this study. Literature indicated that banks, locally and globally, are forced by regulation and the use of information technology, to rely less on human judgement and more on programmed decision-making, when evaluating loan applications. This leads to time-consuming processes with non-standard loan applications and loss of opportunities for business persons. Asset-backed short-term finance is a market response to this tendency. Due to the emerging nature of this industry, no previous academic description of or investigation into this industry could be found – a gap in academic literature which this study aims to fill. The industry is strategically positioned in relation to banks by focusing on functionality for urgent non-standard loan applications (period between application and decision, and access to decision-makers) as value proposition, where banks are found lacking. Relatively high interest rates form the profit proposition, as firms in this industry have limited access to funds. Collateral is central as risk-mitigating strategy, forming a part of the profit proposition. The people proposition is essential, as the industry is distinguished by individualised decision-making. A survey among customers of this industry identified four clusters of potential customers: The first had no needs unfulfilled by banks, while the other three clusters were attracted by either functionality, or the evaluation of collateral in contrast to repayment ability, or a combination of the two. A survey among providers revealed hesitance to supply information and a low level of agreement on strategic matters – possibly due to the emergent nature of the industry. It is asserted that the basis for further study was laid. / Business Management / D. Com. (Business Management)

All companies, are vulnerable to events that could impact their reputation. These events can arise from various factors, such as a company's employment practices, economics, natural disasters, pollution, poor governance or poor management. Effective risk managers identify the different circumstances and factors that may impact on the reputation of a company, prior to the incident occurring. In order to assist risk managers, this dissertation proposes a structured approach to the management of reputational risks, which would ensure that the impact on the reputation of the company is minimised. The proposed approach was collated and deduced from the actions taken by companies that have suffered attacks against their reputations, but have successfully mitigated the consequences and minimised the damage to their reputations. Specific South African legislative requirements are also taken into account. This approach is highlighted and confirmed by contrasting it to the actions taken by companies that failed to counter the attacks on their reputation. / Business Management / M.Com. (Business Management)