Critical assessment of the quality of sustainability disclosures published by public entities in South Africa
- Authors: Nazer, Faith Catherine
- Date: 2018
- Subjects: Sustainable development reporting , Auditing -- South Africa , Finance, Public -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/32845 , vital:32372
- Description: This study was performed in light of the limited research available regarding the quality of sustainability reporting in the public sector, and particularly in South Africa; and due to the important role which the public sector should play in enhancing sustainable behaviour and consequently sustainability reporting. There have been definite developments in legislation and guidelines which aim to enhance the quality of published sustainability disclosures. Therefore, in light of these developments, the objective of this study was to evaluate whether there has been an improvement in the quality of sustainability disclosures published by selected South African public entities for the 2014 financial year compared to the 2008 financial year. This study used both qualitative and quantitative methods to collect and analyse data. The content analysis method was used in this study, with the coding frame being developed deductively through the use of existing sustainability reporting guidelines. The guidelines analysed and incorporated into the coding frame for this study were the Global Reporting Initiative (GRI) Generation 4 (G4) guideline and the integrated reporting framework. To ensure that the coding frame contained codes relevant to the South African context, the King III Report on Corporate Governance (King III) and the Johannesburg Stock Exchange Social Reporting Initiative (JSE SRI) were consulted, and reporting requirements incorporated into the coding frame. Ten Schedule 2 reports and twenty Schedule 3 reports were analysed using the coding frame developed. Descriptive statistics were used to summarise the resulting data. The Spearman Rank Order Correlation and the Mann-Whitney U Test were used to test for possible statistical significance of the changes in the data observed. This study found a number of significant improvements in the quality of reporting of sustainability disclosures from 2008 to 2014. Significant improvements were noted in the areas of reporting relating to balanced economic and environmental disclosures as well as comparative social disclosures being made. There were also significantly more annual published reports labelled as integrated reports in 2014 as compared to 2008, and significantly more 2014 reports used the GRI guidelines, integrated reporting framework, King III or a combination of these in the preparation of the annual published report. Significantly more tables, graphs and diagrams were used in the disclosure of social and other related matters in 2014, which enhanced the clarity of the information reported. There were also significant improvements noted in the disclosures relating to strategic focus and future orientation of the 2014 annual published reports and in the number of non-economic performance targets included in the public entities’ performance reports. Significant improvement was also noted in the quality of overall social disclosures and specifically in the quality of social disclosures relating to labour practices and decent working conditions, and disclosures relating to the entity’s impacts on society. The word count used to disclose matters relating to stakeholder engagement and board practices, composition and remuneration saw significant increases from 2008 to 2014. Despite these improvements and consistent with prior literature, it is concluded that more needs to be done in respect of reporting on social and environmental impacts, through the use of sustainability reporting guidelines and effective stakeholder engagement. In addition, it is recommended that annual published reports aim to provide a more balanced picture of the reporting entity and that negative performance be discussed in more detail. More effort needs to be made in enhancing the reliability of the annual published reports as a whole, through obtaining external assurance on the social and environmental disclosures. Finally, politicians and decision-makers in the public sector need to address the key root causes which lead to poor quality reporting. The significant impact of the following factors on the quality of sustainability disclosures was noted: the public entity’s total asset value, its total revenue, its level of social and environmental impact, the form of the report used as well as the guidelines used to prepare the reports.
- Full Text:
- Date Issued: 2018
- Authors: Nazer, Faith Catherine
- Date: 2018
- Subjects: Sustainable development reporting , Auditing -- South Africa , Finance, Public -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/32845 , vital:32372
- Description: This study was performed in light of the limited research available regarding the quality of sustainability reporting in the public sector, and particularly in South Africa; and due to the important role which the public sector should play in enhancing sustainable behaviour and consequently sustainability reporting. There have been definite developments in legislation and guidelines which aim to enhance the quality of published sustainability disclosures. Therefore, in light of these developments, the objective of this study was to evaluate whether there has been an improvement in the quality of sustainability disclosures published by selected South African public entities for the 2014 financial year compared to the 2008 financial year. This study used both qualitative and quantitative methods to collect and analyse data. The content analysis method was used in this study, with the coding frame being developed deductively through the use of existing sustainability reporting guidelines. The guidelines analysed and incorporated into the coding frame for this study were the Global Reporting Initiative (GRI) Generation 4 (G4) guideline and the integrated reporting framework. To ensure that the coding frame contained codes relevant to the South African context, the King III Report on Corporate Governance (King III) and the Johannesburg Stock Exchange Social Reporting Initiative (JSE SRI) were consulted, and reporting requirements incorporated into the coding frame. Ten Schedule 2 reports and twenty Schedule 3 reports were analysed using the coding frame developed. Descriptive statistics were used to summarise the resulting data. The Spearman Rank Order Correlation and the Mann-Whitney U Test were used to test for possible statistical significance of the changes in the data observed. This study found a number of significant improvements in the quality of reporting of sustainability disclosures from 2008 to 2014. Significant improvements were noted in the areas of reporting relating to balanced economic and environmental disclosures as well as comparative social disclosures being made. There were also significantly more annual published reports labelled as integrated reports in 2014 as compared to 2008, and significantly more 2014 reports used the GRI guidelines, integrated reporting framework, King III or a combination of these in the preparation of the annual published report. Significantly more tables, graphs and diagrams were used in the disclosure of social and other related matters in 2014, which enhanced the clarity of the information reported. There were also significant improvements noted in the disclosures relating to strategic focus and future orientation of the 2014 annual published reports and in the number of non-economic performance targets included in the public entities’ performance reports. Significant improvement was also noted in the quality of overall social disclosures and specifically in the quality of social disclosures relating to labour practices and decent working conditions, and disclosures relating to the entity’s impacts on society. The word count used to disclose matters relating to stakeholder engagement and board practices, composition and remuneration saw significant increases from 2008 to 2014. Despite these improvements and consistent with prior literature, it is concluded that more needs to be done in respect of reporting on social and environmental impacts, through the use of sustainability reporting guidelines and effective stakeholder engagement. In addition, it is recommended that annual published reports aim to provide a more balanced picture of the reporting entity and that negative performance be discussed in more detail. More effort needs to be made in enhancing the reliability of the annual published reports as a whole, through obtaining external assurance on the social and environmental disclosures. Finally, politicians and decision-makers in the public sector need to address the key root causes which lead to poor quality reporting. The significant impact of the following factors on the quality of sustainability disclosures was noted: the public entity’s total asset value, its total revenue, its level of social and environmental impact, the form of the report used as well as the guidelines used to prepare the reports.
- Full Text:
- Date Issued: 2018
Factors affecting the retention of employees in auditing firms
- Authors: Axon, Kerry
- Date: 2012
- Subjects: Employee retention -- South Africa -- Port Elizabeth , Labor turnover -- South Africa -- Port Elizabeth , Auditing -- South Africa , Job satisfaction -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:9408 , http://hdl.handle.net/10948/d1015728
- Description: The twenty first century has identified knowledge, as opposed to labour, raw materials or capital, as the key resource required by firms. This has created a shift of ownership in relationships between employees and employers since employees own the tools of production through the knowledge they hold (Kinnear & Sutherland, 2000). The employment relationship is undergoing fundamental changes due to international competition, de-regularisation and globalisation which have major implications for attraction, motivation and retention of talented employees (De Vos & Meganck, 2009). Organisations face great challenges and intense competition with almost all strategies being easily replicable by competitors. This has led organisations to begin realising that people are in fact the only real differentiator that can gain the organisation competitive advantage (Munsamy & Bosch Venter, 2009). Turnover of employees costs South Africa millions of rands per annum through decreased productivity, increased accidents and quality problems. Specifically, loss of knowledge workers are identified through costs of hiring and training new employees, loss of institutional knowledge, lower office morale, loss of talent and customer dissatisfaction. It is therefore essential to understand the reasons why employees leave organisations in order to discover how to retain them (Mendes & Stander, 2011; Gaylard, Sutherland & Viedge, 2005). Employee turnover can have several negative consequences. It can be difficult to replace the departed employees and the cost of replacing employees can be exhaustive. Remaining employees can be left feeling demoralised from the loss of valued co-workers and work patterns can be disrupted until replacements are found (Newstrom and Davis, 1997). Bilal, Zia-ur-Rehman, and Raza, (2010) add to this list of negative consequences of turnover as turnover can increase recruitment and training costs, loss of productivity as projects lose continuity, interruption of key activities, increase in mistakes made, or even hiring the wrong person for the position.
- Full Text:
- Date Issued: 2012
- Authors: Axon, Kerry
- Date: 2012
- Subjects: Employee retention -- South Africa -- Port Elizabeth , Labor turnover -- South Africa -- Port Elizabeth , Auditing -- South Africa , Job satisfaction -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:9408 , http://hdl.handle.net/10948/d1015728
- Description: The twenty first century has identified knowledge, as opposed to labour, raw materials or capital, as the key resource required by firms. This has created a shift of ownership in relationships between employees and employers since employees own the tools of production through the knowledge they hold (Kinnear & Sutherland, 2000). The employment relationship is undergoing fundamental changes due to international competition, de-regularisation and globalisation which have major implications for attraction, motivation and retention of talented employees (De Vos & Meganck, 2009). Organisations face great challenges and intense competition with almost all strategies being easily replicable by competitors. This has led organisations to begin realising that people are in fact the only real differentiator that can gain the organisation competitive advantage (Munsamy & Bosch Venter, 2009). Turnover of employees costs South Africa millions of rands per annum through decreased productivity, increased accidents and quality problems. Specifically, loss of knowledge workers are identified through costs of hiring and training new employees, loss of institutional knowledge, lower office morale, loss of talent and customer dissatisfaction. It is therefore essential to understand the reasons why employees leave organisations in order to discover how to retain them (Mendes & Stander, 2011; Gaylard, Sutherland & Viedge, 2005). Employee turnover can have several negative consequences. It can be difficult to replace the departed employees and the cost of replacing employees can be exhaustive. Remaining employees can be left feeling demoralised from the loss of valued co-workers and work patterns can be disrupted until replacements are found (Newstrom and Davis, 1997). Bilal, Zia-ur-Rehman, and Raza, (2010) add to this list of negative consequences of turnover as turnover can increase recruitment and training costs, loss of productivity as projects lose continuity, interruption of key activities, increase in mistakes made, or even hiring the wrong person for the position.
- Full Text:
- Date Issued: 2012
Instruments available to the public to assess audit quality
- Authors: Prinsloo, Frans
- Subjects: Auditing -- South Africa , Quality control -- Auditing , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21928 , vital:29802
- Description: With the separation of ownership from day-to-day management that began to characterise many businesses following the industrial revolution, concern arose whether the day-to-day management (as agents) would bias information flows to the business owners (as principals) in order to enhance, say, their remuneration and their reputations as managers (AQF, 2005a: 6). To address these concerns, business owners require mechanisms, such as the external audit, to enable the effective assessment of the stewardship of the agents. Currently the role of the external auditor is to express an opinion on the fair representation of the annual financial statements prepared by management for the business owners.
- Full Text: false
- Authors: Prinsloo, Frans
- Subjects: Auditing -- South Africa , Quality control -- Auditing , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21928 , vital:29802
- Description: With the separation of ownership from day-to-day management that began to characterise many businesses following the industrial revolution, concern arose whether the day-to-day management (as agents) would bias information flows to the business owners (as principals) in order to enhance, say, their remuneration and their reputations as managers (AQF, 2005a: 6). To address these concerns, business owners require mechanisms, such as the external audit, to enable the effective assessment of the stewardship of the agents. Currently the role of the external auditor is to express an opinion on the fair representation of the annual financial statements prepared by management for the business owners.
- Full Text: false
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