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Introduction to the business environment (Sounds governance principles …
Introduction to the business environment
Concept of governance and governance framework for private company
Regular meeting with staff
A risk management framework(identifying all possible events)
Regular board meeting
Establishing various policies
Human resource related activities
Accounting and finance
Sounds governance principles -Public company
Risk management
Information technology governance
Building an ethical organisation culture
Stakeholders relationship
Boards and committees
Structure of a typical organisation
Shareholders
External auditors
Internal audit activity
Audit committees
Board of directors
Marketing director
HR director
Operation director
Financial director
Chief executive officer
Relationships of stakeholders
Provide finance
Appoint auditors
Employees
Owners
Receive AFS
Shareholders
Directors
Employees
Managers\ Stewards
Responsible for:
Reporting results of stewardship
Running company
Auditors
Trusted
Verifying
Gather evidence on fair presentation express opinion
Report opinions to the shareholders
Independent
Different types of auditors
Government auditors
Forensic auditors
Internal auditors
Special purpose auditor
E.g;Environmental auditors and VAT auditors (SARS)
Registered external auditors