1,720,961 research outputs found
The development of an engagement risk management instrument for Zimbabwean audit firms
Get PDFAbstract : Following the collapse of audit firms and the attendant reputational damage, the principal objective of the study was to develop an Engagement Risk Management Instrument (ERMI) in the Zimbabwean context. This tool would be used by these firms to assess the engagement risk associated with certain clients. Related literature was reviewed for desk research and structured interviews conducted on Audit Partners and Chief Risk Officers from purposively sampled audit firms in order to determine generic engagement risk factors. The Delphi process was selected as a methodology because it allowed the validation and rating of identified engagement risk factors by a panel of experts, the Audit Partners and Chief Risk Officers, in engagement risk assessment before client acceptance. Data for this study was collected in two phases. The data that was collected from the Delphi process was then analysed using the SPSS software resulting in the identification of eight (8) levels of engagement risk factor importance. The study established that through the desk research thirty-four (34) engagement risk factors were identified. These thirty-four (34) identified engagement risk factors were used to guide the structured interviews as part of data collection in phase 1. The interviews identified six more engagement risk factors while confirming twenty-two and rejecting twelve (12) from the desk research. The total number of engagement risk factors consolidated after phase 1 was forty (40) and these forty (40) engagement risk factors were used to construct the Delphi Questionnaire which was employed to collect data in phase 2. Data analysis from phase 2 yielded eight levels of importance of the forty (40) engagement risk factors and these levels guided the construction of the ERMI. The study recommended the use of the ERMI as a tool for assessment and re-assessment of clients by audit firms. As an assessment tool, the ERMI would be used in the initial assessment of potential clients for client acceptance decision making. As a re-assessment tool, the ERMI would be used for existing clients; those that were already engaged. In this case, re-assessment is a necessary on-going process because some of the engagement risk factors are economy-based and the economy is dynamic. It is therefore necessary to continuously assess the companies to curb potential engagement risks that might ruin the reputation of audit firms.D.Phil. (Auditing
The COVID-19 pandemic disclosure: A case of the banking sector in an African developing economy
Get PDFThis research aims to explore the extent of COVID-19 reporting by the banking sector in a developing economy after the 2020 experience in the absence of known pandemic standards. The subject of this research is the 2021 top six banks from South Africa, a country classified as a developing economy. An unobtrusive research method was employed. Data were collected from the banks’ integrated reports for 2020/2021 depending on the banks’ financial year period. Document analysis was done and a technique of counting and recording the number of mentions for each COVID-19 content or capital category was employed. Findings indicated that Standard Bank, which was ranked top of the six, took the lead in the extent of COVID-19 reporting based on a recently suggested reporting framework that has not yet been contrasted by the rest of the researchers. A correlation analysis showed a significant positive relationship between the bank size and the extent of COVID-19 disclosure by the sampled banks. The study indicated that the top South African banks significantly reported on the COVID-19 pandemic despite the absence of guiding reporting standards. However, there is a need for another study to develop an index that will show different levels of disclosure extent
Traditional decision making versus artificial intelligence aided decision making in management of firms : A narrative overview
No full textAbstract: There has been a lot of talk about possible ways that Artificial Intelligence (AI) will disrupt the workforce by automating some jobs. In the same vein, literature has also indicated that a lot of studies have been conducted on artificial intelligence systems from different perspectives. However, there are still some research opportunities that could be pursued to further knowledge in the area as artificial intelligence continues to evolve with technological advances. Consequently, this conceptual paper aimed at advancing understanding of artificial intelligence aided decision making versus traditional decision making in the management of firms in the era of Big Data. A general overview of the concept of management practices involving decision making was done, followed by traditional decision making styles. Then, this was followed by an overview of artificial intelligence aided decision making processes. The differences between these two decision making processes were highlighted in the discussion. Methodology: Using a desk-review, this study analysed existing data from secondary sources including peer-reviewed journal articles, textbooks and online blogs. In this paper, the role of the literature review was to unravel the components of the decision making process by management in firms. Results: Findings indicated that despite artificial intelligence aided decision making having many merits, some managers did not trust it due to some of its demerits and challenges that go with its adoption. As a result, they were reluctant to employ it. Conclusion/- and Recommendations: The paper recommends further research on how AI could be used in other management practices which are outside decision making
The state of forensic accounting: South Africa versus the United States of America
Get PDFAs a multi-faceted emerging profession, forensic accounting is surrounded by some issues, controversies, and challenges among them lack of consensus on the entry requirements and certification of the profession, misconstruction of the innate goal of forensic accounting, and the lack of consensus on the teaching pedagogies of forensic accounting. The claim of ownership of forensic accounting by different professional bodies in different jurisdictions also exacerbates these challenges. With these issues surrounding the profession, this study sought to examine the state of affairs of forensic accounting in a developed economy, USA, and a developing economy South Africa. The comparison was based on the following criteria: certification; the profession issues; constitutional and judicial issues; and legal and regulatory issues. The study employed a desktop literature review methodology involving an in-depth review of relevant and current literature. The paper found that both countries share a similar status of the forensic accounting profession only on the profession issues. Differences were noted on the certification; constitutional and judicial issues; as well as the legal and regulatory issues. To date, the profession is regulated in both jurisdictions but it happened in 2000 in the US and 2013 in South Africa. It can therefore be concluded that the similarity in forensic accounting profession status for the two jurisdictions is based only on the profession criteria with differences existing in the certification; constitutional and judicial; and legal and regulatory issues. The paper recommends more studies on comparing the status of the profession in other jurisdictions because extant literature still alludes to unresolved issues and challenges on forensic accounting in some jurisdictions
Sustainability: The adoption of green economy and sustainable accounting principles by South African listed companies and lessons learnt
Get PDFThe globe is facing challenges such as wars, poverty, injustice, environmental degradation, inequality, and climate change. These challenges have unsettled man in his habitation on the globe thereby prompting the United Nations to engage all nations to unite in addressing these global challenges. The interaction of the United Nations with the global community led to the understanding that eradicating poverty must be coupled with strategies that promote economic growth whilst addressing a myriad of social needs as well as climate change and environmental issues. Amongst the strategies to tackle the global challenges indicated above are sustainable accounting and the green economy. As members of the global community, South African listed companies also have a role to play in combating sustainability challenges. This paper contributes to the literature on sustainability, particularly on the adoption of the green economy and sustainable accounting by listed companies in the South African context as well as lessons learned in the process
Internal audit involvement in Enterprise Risk Management (ERM): The case of Zimbabwean public universities
Get PDFSeveral business failures culminated in the necessity to improve overall risk management for different corporates. Educational organisations also began to realise the exigency for efficient risk management in the sector and embarked on tracking Enterprise Risk Management (ERM) related advances in the corporate world and seeking ways to apply these for higher education. This study sought to assess the involvement of internal auditors in ERM in Zimbabwean public universities. This study is quantitative and employed a survey to collect data from heads of internal audit sections in public universities. The main findings of the study indicated that 64.78 percent of the internal auditors were performing their core and permissible roles as promulgated by the Institute of Internal Audit in risk management while 35.22 percent were performing some prohibited roles. The study recommends engaging qualified internal auditors who are aware of their specific roles in risk management or providing some training for the officers in the internal audit sections. The study further recommends that these universities should institute risk management sections headed by qualified Chief Risk officers to complement internal auditors’ efforts and improve the effectiveness and efficiency of ERM in Zimbabwean public universities. Chief Risk officers should become champions of risk management in these institutions to avoid tempering the internal auditors’ objectivity
Readiness of Public TVET for the Fourth Industrial Revolution : the case of South Africa
Get PDFAbstract: This study aimed at determining the readiness of South African Public Technical and Vocational Education and Training (TVET) Colleges to operate in the 4IR. An assessment of the indicators deemed to prove readiness by the researchers of this study basing on literature was conducted through virtually interviewing public TVET College Principals, Deputy Principals Academic, Human Resources Managers and ICT Managers. A purposive sample of 26 from a population of 50 public TVET colleges proportionally representing the 9 provinces of South Africa was identified. The interviews were video recorded and later transcribed. From the findings it was concluded that most of the public TVETs realised the importance of readiness for 4IR as they got a push from Covid-19 and started or intensified preparing but were not completely ready due to lack of or inadequate teaching and learning technologies, training for teaching staff on the use of available technology; poor connectivity; lack of computing equipment; lack of ICT infrastructure; lack of ICT Strategies; and above all lack of policy directive. The findings could be used by the South African government to inform policy formulation and supporting higher education and training as a response to demands of 4IR to promote readiness by public TVETs to operate in the era characterised by intense technological changes
DETERMINANTS OF FINANCIAL INCLUSION IN SOUTHERN AFRICA
Get PDFThe study sought to establish the drivers of financial inclusion in Southern Africa with a specific focus on South Africa. Financial inclusion has been a topic of global interest due to the negative impact of financial exclusion in addressing socio-economic issues like poverty. Using the logit model, the study discovered that financial inclusion is driven by age, education level, the total salary proxy of income, race, gender, and marital status. The variable gender was the only factor with a negative influence on financial inclusion all other significant variables had a positive influence on financial inclusion. As a result, governments in Africa should encourage the use of financial services and products among women, Black Africans, Coloureds and the youths. Products and services tailor-made to satisfy the needs of these groups should be designed to improve financial inclusion among them. This initiative will go a long way in addressing poverty, inequality, and unemployment in the country.
JEL classification: G1, O12, G23, G3
Technologies, technological skills and curriculum needs for South African public TVET college students for relevance in the 4IR era
Get PDFAbstract: This study sought to establish technologies, technological skills and curriculum needs for South African Public Technical Vocational Education and Training (TVET) college students for their relevance and preparation to the working world in the fourth industrial revolution (4IR). This was a qualitative research study with data collected through virtual interviews from a mixed group of Students Representative Council (SRC) members of the 26 purposively sampled TVET colleges out of 50 TVET colleges, ensuring proportional representation of colleges in the nine provinces. Participants’ responses were video recorded then transcribed. Key findings were that students raised 25 different technologies they required in order to participate meaningfully in learning activities. The dominating students’ technological skills requirements were competency in PowerPoint/Excel/Word, basic computer literacy, computer hardware, and typing with speed. Ninety-three percent (93%) of the Journal of African Education (JAE) ISSN: 2633-2922 (Print) ISSN: 2633-2930 (Online) Indexed by SABINET and EBSCO Volume 2, Number 3, December 2021 Pp223-242 Technologies, technological skills and … 224 respondents were not satisfied that the current curriculum provided them with relevant knowledge to propel them in future employment prospects in the 4IR
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