Deloitte is committed to enhancing our professional working relationship with the Non- Executive Directors, and by way of demonstrating this, we have planned a number of initiatives for 2012, which we trust will be of value to them.
|The Companies Act Australian ‘Centro-case’ confirms duties of all directors.The Companies Act, 2008 (the Act) emphasises the responsibility and accountability of directors. Recent international and local jurisprudence also underline the demanding standard of conduct that is expected of company directors.|
|The Social and Ethics Committee and the management of the Ethics Performance of the Company. A Social and Ethics Committee constitutes a formal structure which can facilitate appropriate attention to the soft, but very important, dimensions of how a company actually goes about its business, specifically its value system with regard to ethical standards.|
|Integrated Reporting II. Deloitte South Africa has released the 2nd quarterly report on the state of Integrated Reporting in South Africa. Over a hundred Corporate Reports were analysed, covering 7 subjects, 58 principles and 160 questions.|
|Directors’ Alert: 12 issues for 2012. The recent release of the Deloitte global report entitled “Directors’ Alert: 12 issues for 2012,” has generated comments from members of the South African firm in that board members, primarily concerned with governance issues raised by King III and the amended Companies Act, should also be considering increasing their roles as custodians of company financial health and competitiveness.|