Faculty of Commerce, Law and Management (ETDs)

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    Enhancing Corporate Governance Systems through Adoption of Blockchain Technology in Small, Medium and Micro Enterprises (SMMEs) in South Africa
    (University of the Witwatersrand, Johannesburg, 2024) Nyembe, Sanele; Totowa, Jacques
    Instances of corporate fraud, exemplified by cases such as Enron in the USA,Steinhoff in Germany/South Africa, and Tongaat Hullett in South Africa, have becomeprevalent worldwide, inflicting severe repercussions on diverse stakeholders. Despitethe widespread occurrence of such frauds, they often evade early detection, resultingin substantial financial losses and erosion of shareholder value. Effective corporategovernance systems are intended to serve as the ultimate surveillance mechanism tofilter out various forms of corporate fraud.Technological advancements, particularly blockchain, hold promise for enhancingcorporate governance effectiveness. Blockchain, a digital ledger technology thatrecords transactions in immutable blocks, offers potential benefits in detecting andpreventing fraud. Importantly, blockchain technology is envisioned not as areplacement but as a complementary addition to existing corporate governancesystems to enhance their efficacy.The objective of this research was to analyse the potential impact of blockchain onSMMEs in South Africa through an online survey targeting professionals with varyingexpertise. The results of the survey, encompassing 214 respondents from diverseprofessional backgrounds including accountants, ethics committee members, boardmembers, and blockchain technology experts, revealed a consensus on the positiveimpact of blockchain integration with corporate governance pillars in curbing corporatefraud within SMMEs. The Likert scale results indicated an average score of 4.09 outof 5, suggesting a predominantly positive perception of blockchain's efficacy inaddressing corporate fraud in SMMEs. The results revealed that technologicalintervention, acting as a mediating factor between current corporate governancepractices and the capacity for early fraud detection, would yield positive outcomes. Asillustrated through the conceptual framework
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    Exploring Covid-19 disclosure patterns: A comparative analysis of the financial statements of a sample of top-, mid-, and small-tier companies listed on the Johannesburg Stock Exchange, Nigerian Exchange and the London Stock Exchange in the 2020 and 2021 financial years
    (University of the Witwatersrand, Johannesburg, 2023) Makara, Motanyane; Gomez, Samantha
    This study is an exploration of the impact of Covid-19 on the accounting standard disclosures of a sample of companies from the Johannesburg Stock Exchange (JSE), Nigerian Exchange (NGX) and London Stock Exchange (LSE). The study is a comparison of the impact of Covid-19 between developing nations and a developed nation. It explores how the impact of Covid-19 was disclosed in the financial statements of the sample companies from the top-, mid-, and small-tiers of the stock exchanges. Stakeholder theory and Legitimacy theory are applied to better understand the study due to their emphasis on transparency and accountability to shareholders. A content analysis was carried out using financial statements of 90 companies from the LSE, 79 companies from the JSE and 37 companies from the NGX. Covid-19 disclosures were not as prevalent as expected in the financial statements. The study finds that the JSE and LSE had a higher number of Covid-19 disclosures than the NGX in both years. The number of disclosures between the market tiers varies by stock exchange however. The most impact disclosed in all the stock exchanges revolved around IFRS 16 Leases, IAS 1 Presentation of Financial Statements with focus on going concern, and IAS 36 Impairment of Assets. Covid-19 had the consequence of halting business activity globally. This meant assets were unused, affecting impairment and leasing activities. Going concern also became a major issue for businesses worldwide. The study is guided by the legitimacy and stakeholder theories to contribute to the literature on the impact of major events on the disclosure practices of entities taking into the need for stakeholders to have adequate information provided