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HRD4801 Assignment 1 (COMPLETE ANSWERS) 2024 (716310) - DUE 15 May 2024
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HRD4801Assignment 1
(COMPLETE
ANSWERS)
2024 (716310) -
DUE 15 May
2024
CONTACT: biwottcornelius@gmail.com
, QUESTION 1 Tongaat Hulett, a major player in South Africa’s agricultural and
agri-processing sector, has been implicated in a severe scandal stemming
from recent accounting irregularities and declining corporate governance
ratings. The scandal concerns widespread irregularities in financial reporting
that led to overstated profits and fraudulent activities. As a result, the
company’s leadership came under scrutiny for neglecting principles
associated with ethics and the governance of risk, ultimately impacting various
facets of the organisation, including the human resource (HR) and human
resource development (HRD) functions. • Discuss the specific principles of
ethics and the governance of risk that were neglected (10 marks) and analyse
the implications of the scandal for the HR and HRD functions at Tongaat
Hulett (5 marks). • Discuss the potential consequences of these kinds of
scandals in relation to the Johannesburg Stock Exchange (JSE) and the
broader investment landscape in the country (5 marks). (20) Open Rubric
LEARNING OUTCOMES On completion of this assessment, you should be
able to: • identify and critically discuss the principles of corporate governance.
• assess the implications of human resource development (HRD) governance
in an organisation. • discuss the roles and responsibilities of corporate
governance in your organisation. • explain the difference between the King III
Report and the King IV Report. • reflect on the three Ps or the triple bottom
line. • reflect on the significance and relevance of governance in HR and/or
HRD. • critically evaluate the application of corporate governance in HR
and/or HRD. Downloaded by Corona Virus () lOMoARcPSD| 2
Principles of Ethics and Governance Neglected:
1. Transparency and Disclosure: Tongaat Hulett failed to provide accurate and transparent
financial information to stakeholders, leading to overstated profits. This lack of
transparency violates ethical principles and governance standards that require companies
to disclose accurate and reliable financial data.
2. Accountability and Responsibility: The scandal suggests a lack of accountability within
Tongaat Hulett's leadership, as they allowed for widespread irregularities in financial
reporting to persist. Corporate governance principles emphasize the importance of
holding individuals accountable for their actions and decisions, which was evidently
neglected in this case.
3. Integrity and Honesty: By engaging in fraudulent activities to overstate profits, Tongaat
Hulett compromised the integrity and honesty expected of corporate entities. Upholding
these ethical principles is essential for building trust with stakeholders and maintaining a
positive reputation in the market.
4. Risk Management: The company neglected proper risk management practices by
allowing financial irregularities to occur unchecked. Effective governance involves
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