Solvency II is the new European Union (EU) legislation which will replace the capital adequacy regime for the insurance industry. Considering that the banking sector has experienced a similar change through the different Basel Accords (Basel), there is an opportunity for the insurance industry before The results indicate similar distortions between developing countries while the major driver behind the cost of capital for developing countries is equity market volatility, and not credit risk as might have been expected. Finally, the fourth research problem relates to another objective of financial regulations: to reflect the risks that financial institutions face. The risk sensitivities of economic and regulatory capital for credit risk are investigated empirically using a dynamic optimisation model in one of the first studies of its kind. Results show that economic capital is a superior risk measure to regulatory capital from a systemic- and institution-specific risk perspective. This, along with calls to strengthen Pillar 2 disciplines following the financial crisis, leads to a suggestion that economic capital could be considered as a Pillar 1 capital requirement, replacing the current forms of Pillar 1 regulatory capital. the implementation of Solvency II to learn from the weaknesses and shortcomings in Basel to ensure that the design of Solvency II will, as far as possible, compensate for these. The financial crisis of 2007 to 2010 highlighted certain weaknesses and shortcomings of Basel and there is accordingly an opportunity for the insurance industry to learn from these deficiencies and to strengthen Solvency II to help prevent similar events in the insurance industry. This thesis investigates these weaknesses in Basel in an attempt to determine the extent to which these are inherently included in Solvency II. The first research problem of this thesis examines these weaknesses in Basel and relates them back to Solvency II to determine which, and to what extent, some of them may have been included in Solvency II. The second research problem leads from the first and critically explores an objective of financial regulations, namely to provide financial institutions with equal competitive conditions (the so-called ‘level playing field’) from a regulatory perspective. To achieve this objective, there is an implicit assumption that the cost of capital between countries is equal. Investigation into the cost of capital between both developed and developing countries using a modified weighted average cost of capital model indicates that the cost of capital between developed and developing countries differs and that regulations based on capital requirements tend to favour developed countries. This means that current financial regulations cannot achieve this objective as intended. The third research problem investigates the cost of capital between various developing countries to determine firstly whether similar competitive distortions exist among such countries, while secondly exploring the drivers behind the cost of capital in such countries through linear regression analyses. / PhD (Risk Management), North-West University, Potchefstroom Campus, 2013

Various studies have highlighted the problems faced in accounting education. Some of these problems refer to the stagnating accounting curriculum, limited resources available to students from designated black empowerment groups, and the underdevelopment of skills required by practice. This study focuses specifically on the problems faced in secondary and tertiary accounting education in South Africa (SA) and the effects of these problems on practice. The first article of this study emphasises the various causes for the declining pass rate in firstyear chartered accountancy (CA) students. For this purpose, the researcher gathered information on the perceptions of first-year CA students and of lecturers involved in departments of accounting at SA universities. One of the possible causes identified is the apparent gap between school and university accounting education, especially in respect of curriculum, teaching quality and textbooks. The study revealed that students from designated black empowerment groups are facing the most problems in SA accounting education. The second article addressed the skills shortages in first-year CA trainees that practitioners have to deal with. According to the results, the majority of the participants felt that universities do not sufficiently equip students with the skills necessary to be successful in practice. The skills shortages identified included the inability of first-year trainees to determine the extent of testing needed in audits and to think independently. It also seemed as if first-year trainees lack professional communication skills and cannot sufficiently apply theory learnt at university in practice. These are only some skills with which universities are expected to equip students in order to be successful in practice. The researcher drew conclusions and made recommendations based on the information obtained from the above-mentioned two studies. / MCom (Accountancy), North-West University, Potchefstroom Campus, 2014

Mining contributes significantly to the economic development of South Africa, contributes to pollution and other negative environmental impacts. Section 24 of the Constitution of the Republic of South Africa, 1996 (Constitution) places a duty on government to, amongst others adopt legislative measures to protect the environment, prevent pollution and degradation, and secure sustainable development, while promoting justifiable economic and social development. Government responded with the introduction of new acts or the amendment of existing acts most of which require an authorisation process as a “command and control” tool to enforce environmental governance within the mining sector. The abovementioned legislative development will be discussed from a historical perspective up to the current developments. The research aims to attempt to align the authorisation process pertaining to mining. The mining life cycle will be illustrated and the authorisation requirements for each of the mining life cycle processes will be discussed alongside its challenges such as fragmentation, lack of capacity in government sectors, lack of communication and cooperative governance within government. The lack of focus within the authorisation requirements will be deliberated. To avoid the negative consequences of the current authorisation processes such as duplication, unnecessary time delays and the stifling of economic growth, an investigation into how the various fragmented authorisation processes can be aligned into a single streamlined authorisation process which will contribute to the sustainable development within South Africa will be made. / MPhil (Environmental Law and Governance), North-West University, Potchefstroom Campus, 2013

Solvency II is the new European Union (EU) legislation which will replace the capital adequacy regime for the insurance industry. Considering that the banking sector has experienced a similar change through the different Basel Accords (Basel), there is an opportunity for the insurance industry before The results indicate similar distortions between developing countries while the major driver behind the cost of capital for developing countries is equity market volatility, and not credit risk as might have been expected. Finally, the fourth research problem relates to another objective of financial regulations: to reflect the risks that financial institutions face. The risk sensitivities of economic and regulatory capital for credit risk are investigated empirically using a dynamic optimisation model in one of the first studies of its kind. Results show that economic capital is a superior risk measure to regulatory capital from a systemic- and institution-specific risk perspective. This, along with calls to strengthen Pillar 2 disciplines following the financial crisis, leads to a suggestion that economic capital could be considered as a Pillar 1 capital requirement, replacing the current forms of Pillar 1 regulatory capital. the implementation of Solvency II to learn from the weaknesses and shortcomings in Basel to ensure that the design of Solvency II will, as far as possible, compensate for these. The financial crisis of 2007 to 2010 highlighted certain weaknesses and shortcomings of Basel and there is accordingly an opportunity for the insurance industry to learn from these deficiencies and to strengthen Solvency II to help prevent similar events in the insurance industry. This thesis investigates these weaknesses in Basel in an attempt to determine the extent to which these are inherently included in Solvency II. The first research problem of this thesis examines these weaknesses in Basel and relates them back to Solvency II to determine which, and to what extent, some of them may have been included in Solvency II. The second research problem leads from the first and critically explores an objective of financial regulations, namely to provide financial institutions with equal competitive conditions (the so-called ‘level playing field’) from a regulatory perspective. To achieve this objective, there is an implicit assumption that the cost of capital between countries is equal. Investigation into the cost of capital between both developed and developing countries using a modified weighted average cost of capital model indicates that the cost of capital between developed and developing countries differs and that regulations based on capital requirements tend to favour developed countries. This means that current financial regulations cannot achieve this objective as intended. The third research problem investigates the cost of capital between various developing countries to determine firstly whether similar competitive distortions exist among such countries, while secondly exploring the drivers behind the cost of capital in such countries through linear regression analyses. / PhD (Risk Management), North-West University, Potchefstroom Campus, 2013

Thesis (DPhil (Political Science))--Stellenbosch University, 2008. / For the sake of continued social stability in South Africa it is imperative that the country’s so-called “partial transition” is completed through a process of meaningful socio-economic transformation that addresses the consequences of its history of unequal development. Transformation can thus be viewed as one of the primary challenges in the economic and socio-political landscape in South Africa. It is the task of social sciences to contribute to the general understanding of our social reality through systematic analysis and thereby promoting effective responses to social challenges. Current literature on the transformation process in South Africa focuses almost exclusively on the country’s political transition (as a change in power relationships) and analyses of socioeconomic inequality and descriptions of the successes and failures of policy measures that have been adopted since 1994 to promote the redistribution of economic resources. Three shortcomings in current literature on and the theoretical analysis of transformation were identified, namely: (i) the apparent disregard of the status implications of the redistribution of political and economic resources, (ii) the absence of analyses that problematise the transformation process as such (and specifically the sector and industry specific initiatives initiated to promote Black Economic Empowerment), and (iii) the lack of prescriptive guidelines for the management of transformation processes. It is the primary goal of this study to develop a theoretical framework in terms of which socioeconomic transformation can be analysed. Socio-economic transformation is described as a potentially contentious process and it is shown that the institutionalised and negotiated nature of transformation in the South African context allows us to interpret it in terms of theories of social conflict. Theory from the field of conflict studies, and specifically Social Identity Theory, is used to analyse the impact of the redistribution of power and material resources on the status of social groups and the concurrent implications for inter-group relationships. The theoretical model is also used to identify specific circumstances under which the stability of social relationships can be maintained amidst the redistribution of power and resources – i.e.: circumstances in which parity of esteem is maintained through mutual acceptance of the principles that underlie the distribution of resources, power and other sources of social status. A prescriptive model for the management of conflict that satisfies these requirements is developed from the theory of conflict transformation and is presented as a model for the management of transformation. This model suggests the achievement of social justice as the desired outcome of conflict management. In the absence of a satisfactory definition of social justice in the existing theory, John Rawls’s conceptualisation of justice is suggested as an analytical elaboration of the theory. A case study, namely the negotations on the Wine Industry Charter and the transformation of a key institution in the South African wine industry, is used to illustrate how the chosen theoretical model (and specifically the theoretical assumptions regarding the need for positive self-esteem) can by used by analysts to interpret information processes. The case study is also used to illustrate how the elements of the chosen prescriptive model for the management of transformation has been utilised. The study confirms the fact that the chosen theoretical model for the management of transformation was utilised in the formal transformation process in the wine industry (and specifically in the successful development of the Wine Industry Charter and the negotiations regarding the structure and nature of the South African Wine Council).

Across the world, war has been declared against poverty because of its devastating effects on local communities. The world has made a concerted effort to fight the effects of poverty through developmental agencies and regional integration bodies such as the World Bank, International Monetary Fund (IMF), World Trade Organisation (WTO), United Nations Development Programme (UNDP) and the Southern African Development Community (SADC). In an effort to complement the efforts of the above–mentioned agencies and bodies, the South African government has developed its own poverty alleviation strategies, policies, initiatives and Acts that focus primarily on alleviation of poverty on the level of local government. The Constitution of South Africa, 1996 provides the guidelines to several regulations and Acts (such as the Development and Facilitation Act, 67 of 1995, the Local Government: Municipal Systems Act, 32 of 2000, and the Local Government: Municipal Structures Act, 117 of 1998.) that support the alleviation of poverty on the local sphere of government. The Integrated Development Planning programme was formulated and implemented to alleviate poverty at this level. The purpose of this study was to determine how the level of poverty within the Dr Kenneth Kaunda District Municipality could be alleviated through effective integrated development planning. A quantitative approach was followed because the target population response rate was expected to be large. In addition, the research design for this study included a literature review, analyses of official documents, observation and data sampling through questionnaires and scientific analysis of the responses. The study found that IDP objectives aligned to service delivery targets were unclear and did not depict the aspirations and needs of the community. The programmes aimed at the infrastructure coupled with skills development programmes and job creation initiatives could assist in the alleviation of poverty. / M Development and Management, North-West University, Potchefstroom Campus, 2014

The history of the mining industry indicates a lack of understanding among the decision-makers of the impact the closure of mines has on the industry and the associated effects on the society and surrounding environment. The policies of the mining industry do make provision for a planned mine closure, but not for an unexpected closure. This detrimental aspect of closures in the mining industry is highlighted in the present study. The present study investigates how mineworkers’ dependency on their employment at a mine affects their ability to sustain their livelihoods. Vulnerable livelihoods leave the community at a greater risk to be affected by a disaster, than the livelihoods of a community that is resilient and has sustainable resources. Even though mineworkers are not considered as poor at the time of their employment, a mine closure could render them into a status called ‘transitional poverty’. This study also highlights that mineworkers who are skilled for mining operations only do not overcome the status of ‘transitional poverty’ and hence enter a phase called ‘chronic poverty’. This stage constitutes their inability to negotiate livelihood strategies and livelihood outcomes that could sustain a household. Thus humanitarian assistance would be needed from outside sources. Planning for unexpected mine closures should also be on the agenda of the mining industry due to the extreme consequences such an event holds for the mining community experiencing the event. In the case under investigation, the unexpected mine closures occurred in the Grootvlei mine in Springs and the Orkney mine owned by the Aurora Empowerment Systems Ltd. at the time of this study. These closures left the surrounding communities in need of food, shelter and clean water. The inhabitants gradually lost their livelihood assets. A contingency planning model is proposed at the end of this study to address the short-term and long-term consequences of an unexpected mine closure. / M Development and Management, North-West University, Potchefstroom Campus, 2014

The objective of this study is to conduct a critical evaluation of the Namibian law and policy framework that currently regulates small-scale mining in Namibia. The discussion begins with an introduction to small-scale mining in Namibia which deals with the practice of small-scale mining, inter alia, as far as it is defined and the possible affects thereof. Small-scale mining affects various second generation rights of persons directly involved therein as well as the community as a whole. These rights include child labour; unemployment; gender issues; public health care; occupational health and safety; access to finance; poverty alleviation; and access to mining tools, machinery, markets and buyers. The law and policy framework applicable to small-scale mining in Namibia is accordingly critically discussed in terms of the strengths and weaknesses of the current framework. It is found that small-scale mining is quite well regulated in Namibia, but the current law and policy framework is not without its problems. Some of the main weaknesses identified are the centralised nature of the application for and pegging of claims, the lack of formal provision and regulation of the off-set markets, and the lack of access to finance for smallscale miners. Recommendations are made, such as that regulatory measures should be put in place to make provision for and to regulate the off-set markets for the minerals being mined by the artisanal miners. At the end of the study further research topics which relate directly to the regulation of small-scale mining in Namibia are identified. / LLM (Environmental Law and Governance), North-West University, Potchefstroom Campus, 2014

Across the world, war has been declared against poverty because of its devastating effects on local communities. The world has made a concerted effort to fight the effects of poverty through developmental agencies and regional integration bodies such as the World Bank, International Monetary Fund (IMF), World Trade Organisation (WTO), United Nations Development Programme (UNDP) and the Southern African Development Community (SADC). In an effort to complement the efforts of the above–mentioned agencies and bodies, the South African government has developed its own poverty alleviation strategies, policies, initiatives and Acts that focus primarily on alleviation of poverty on the level of local government. The Constitution of South Africa, 1996 provides the guidelines to several regulations and Acts (such as the Development and Facilitation Act, 67 of 1995, the Local Government: Municipal Systems Act, 32 of 2000, and the Local Government: Municipal Structures Act, 117 of 1998.) that support the alleviation of poverty on the local sphere of government. The Integrated Development Planning programme was formulated and implemented to alleviate poverty at this level. The purpose of this study was to determine how the level of poverty within the Dr Kenneth Kaunda District Municipality could be alleviated through effective integrated development planning. A quantitative approach was followed because the target population response rate was expected to be large. In addition, the research design for this study included a literature review, analyses of official documents, observation and data sampling through questionnaires and scientific analysis of the responses. The study found that IDP objectives aligned to service delivery targets were unclear and did not depict the aspirations and needs of the community. The programmes aimed at the infrastructure coupled with skills development programmes and job creation initiatives could assist in the alleviation of poverty. / M Development and Management, North-West University, Potchefstroom Campus, 2014

The history of the mining industry indicates a lack of understanding among the decision-makers of the impact the closure of mines has on the industry and the associated effects on the society and surrounding environment. The policies of the mining industry do make provision for a planned mine closure, but not for an unexpected closure. This detrimental aspect of closures in the mining industry is highlighted in the present study. The present study investigates how mineworkers’ dependency on their employment at a mine affects their ability to sustain their livelihoods. Vulnerable livelihoods leave the community at a greater risk to be affected by a disaster, than the livelihoods of a community that is resilient and has sustainable resources. Even though mineworkers are not considered as poor at the time of their employment, a mine closure could render them into a status called ‘transitional poverty’. This study also highlights that mineworkers who are skilled for mining operations only do not overcome the status of ‘transitional poverty’ and hence enter a phase called ‘chronic poverty’. This stage constitutes their inability to negotiate livelihood strategies and livelihood outcomes that could sustain a household. Thus humanitarian assistance would be needed from outside sources. Planning for unexpected mine closures should also be on the agenda of the mining industry due to the extreme consequences such an event holds for the mining community experiencing the event. In the case under investigation, the unexpected mine closures occurred in the Grootvlei mine in Springs and the Orkney mine owned by the Aurora Empowerment Systems Ltd. at the time of this study. These closures left the surrounding communities in need of food, shelter and clean water. The inhabitants gradually lost their livelihood assets. A contingency planning model is proposed at the end of this study to address the short-term and long-term consequences of an unexpected mine closure. / M Development and Management, North-West University, Potchefstroom Campus, 2014