School of Accountancy (ETDs)

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Subject: search.filters.subject.Financial Institutions

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    An initial study of disclosures related to responsible investing implementation
    (2021) Jacobson, Lori Tasmin
    Financial institutions (FIs) such as banks, insurance companies and pension funds have a significant impact on the environment through the financing they provide. Companies such as mining and oil and gas companies receive funding and use this for different projects, some of which have severe environmental and social consequences. This study examined the extent to which both the grantor of finance and the receiver of finance identify and apply responsible investment (RI) practices when making investment decisions. RI disclosure in the integrated reports of companies was examined to assist with the research. The study also examines if there is a relationship between companies listed on the FTSE/JSE RI index and the FTSE/JSE RI Top 30 index and the extent of their RI disclosure. The results of this research indicate that the extent of RI disclosure in FIs in South Africa is limited. The research further found that the extent of RI disclosure for the mining and oil and gas companies was stronger than for FI’s. Finally, the research found that there appears to be a correlation between companies listed on the indices and their RI disclosure. This was noted as companies on the indices have stronger RI disclosures than companies not on the index
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    A critical analysis into the Organisation for Economic Co-operation and Development ‘Standard for Automatic Exchange of Financial Account Information in Tax Matters’
    (2017) Mohanlal, Dhanesh
    The impact of the Organisation for Economic Co-operation and Development’s Standard on Automatic Exchange of Financial Account Information in Tax Matters has a significant impact on Financial Institutions globally. This paper aims to critically evaluate the current South African legislation and the obligations it places on financial institutions. The research also highlights the challenges faced by a financial institutions in interpreting and implementing the often complex requirements of the regulations with a particular focus on the following areas namely customer on-boarding and enhanced due diligence procedures, monitoring of accounts, remediation of the existing customer base, system development, and reporting to the South African Revenue Service. The research also looks into the readiness of developing countries in implementing the Automatic Exchange of Information. The research concludes with a discussion into the appropriateness of South Africa’s decision to agree to be one of the early adopters of this legislation despite the challenges identified above. Key Words: OECD, Standard on Automatic Exchange of Financial Account Information for Tax purposes, Common Reporting Standard, Financial Institutions.