Exam (elaborations)
CAS1501 -Perspectives on Accountancy PORTFOLIO ASSIGNMENT 6 2022 SEMESTER 1
- Institution
- University Of South Africa (Unisa)
CAS1501 -Perspectives on Accountancy PORTFOLIO ASSIGNMENT 6 2022 SEMESTER 1
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Part A.Communication:
Communication is the conveying of a message from one point to the other or from one
person to the other.
Critical thinking:
Critical thinking is the analysis of available facts, evidence, observations, and
arguments to form an opinion or judgment.
Digital.
Describes electronic technology that generates, stores, and processes data in terms of
two states which are either positive and non-positive.
Declaration.
It is the act of declaring or pledging of one’s innocence especially in cases where there
are rules to be followed.
Part B.
(a). i.
Ethically competent.
Decisive.
Transparent.
Growth mind-set.
Creative and innovative.
(ii). Ethically competent - ethical leadership is fundamental for a company to maintain its
reputation in the sense that a CEO with strong ethics can help companies successfully
navigate challenges.
, Transparent - employees, the board of directors and the public must trust the CEO
therefore transparency and authenticity increase trust in the CEO and thus increase
trust in the CEO's decisions and leadership.
Growth mind-set - a growth mindset is the deeply held personal belief that setbacks
lead to deeper learning and future success in the light that CEOs with growth mindsets
welcome obstacles as learning opportunities.
Decisive - CEOs should be comfortable making confident decisions hence a company's
leadership must remain committed to ideas once they have chosen those ideas.
Creative and innovative - adaptability and innovation are often the keys to a company's
long-term success therefore CEOs must think creatively and welcome new, inventive
ideas to keep their business relevant and progressive.
b (i) The fact that IoDSA has been calling out for years demonstrates that they have
always been need for action to be taken.
The appointment of Mr. Siyabonga Gama was a result of political interference which
shows that the board was not independent to appoint merited personnel.
The legislative framework of the SOE limits the powers of the board therefore allowing
meddling from the minister.
(ii). The process should be a robust and transparent process by the Accounting
Authority Board which ensures good governance.
(iii). The appointment of Mr. Gama was done by the minister because of his political
affiliation rather than competence and skills required for the job.
Mr. Gama was not on the shortlist of candidates that the Board wanted interview and
the fact that the minister intervened shows how the Board was overridden and prone to
interference.
c (i) Misconduct because of his violations of the financial procurement and fiduciary
responsibilities.
(ii). He was dismissed as group C.E.O of Transnet for those acts of misconduct.
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