CGF puts company officers on the fast track to success

In today’s competitive business environment, leaders of organisations are tasked to equip themselves with the necessary skills and knowledge in order to remain at the forefront of their activities. Directors and managers -- the company’s officers -- need to receive essential training on their fiduciary duties, responsibilities and powers, as well as their potential liabilities.

Worldwide, numerous debates (both inside and outside of boardrooms) grapple with questions pertaining to the hurdles of good governance. In addition, company officers face many key and complex issues - more than ever before. South Africa has seen a huge increase in governance measures over the last decade. In these times of intensified corporate scrutiny and governance reforms, public and private organisations need to trust that their directors, executive and senior managers have a comprehensive understanding of the immense responsibility attached to their leadership functions.

There is a great deal of information that company officers need to familiarise themselves with, particularly in terms of the recent, substantial changes in the Companies Act 2008, including the introduction of King III. It is therefore critical for every South African business to have an in-depth understanding of both of the Companies Act and King III – one being driven by law and the other by business recommendations which are applicable to all business entities.

This information needs to be thoroughly understood by all the company’s officers, and then applied effectively throughout the organisation. As governance measures intensify, more company officers may find their positions under threat as the company’s stakeholders take stronger action for increased performance and improved governance practices across all the company’s business operations. Officers of companies need to inform themselves of their statutory and common law duties, which are linked to fulfilling their obligations. This involves gaining a comprehensive understanding of the roles and duties borne by company officers. Furthermore, company officers need to have a thorough understanding of that which is required of them, as these requirements may go well beyond their job description.

Accordingly, CGF Research Institute (Pty) Ltd provides an essential service for company officers who are charged with keeping abreast of new developments in the area of corporate governance. The latest product offering is the Fast Tracking Company Officers Manual, which addresses high-level fiduciary related issues in an accessible manner, and without the cumbersome legalese.

The Fast Tracking Company Officers Manual provides a simplified account of those matters covered in the Companies Act 71 of 2008 while integrating aspects of King III related recommendations and relevant principles of Common Law. The manual may be used as an indispensable day-to-day reference book. Many (Pty) Ltds and ccs are oblivious to the latest changes that have been imposed by the recent Companies Act, not least King III. It is essential for all companies in a business supply chain to be brought up to speed as these changes affect them directly.

As such, the material contained within Fast Tracking Company Officers is an invaluable source of information to all company officers. It provides some guidance for the officers of any company or organisation in their fiduciary duties and responsibilities. Moreover it facilitates the ongoing professional development of a company’s leadership and workforce. In this way it is a tool in ensuring that designated employees continue to develop the knowledge and skills expected of them. This is a key contributing factor to the success, sustainability and longevity of a business.

Good corporate governance is essentially about effective and responsible leadership, which calls for integrity, transparency and accountability. The culture for good governance must be set at the top, and driven throughout the organisation. The manual aids company officers to promote, establish and maintain a responsible business practice among their subordinates and to entrench an ethical culture that guides their business conduct and operations.

Available in booklet format, Fast Tracking Company Officers may be worked through by the readers at their own pace. The manual looks at the following areas:

The cost of the Fast Tracking Company Officers manual is R250.00 ex vat per copy.