Abstract
Background: Corporate governance maybe approached through several functions such as auditing, an internal audit committee, information management, compliance, corporate citizenship and risk management. However, most organisations, including governmental bodies, regularly exclude records management from the criteria for a good corporate-governance infrastructure. Proper records management could be the backbone of establishing good corporate governance.Objectives: Utilising the King report III on corporate governance as a framework, this quantitative study explores the role of records management in corporate governance in governmental bodies of South Africa.Method: Report data were collected through questionnaires directed to records managers and auditors in governmental bodies, as well as interviews with purposively selected auditors from the Auditor-General of South Africa. Data were analysed using various analytical tools and through written descriptions, numerical summarisations and tables.Results: The study revealed that records management is not regarded as an essential component for corporate governance. Records management is only discussed as a footnote; as a result it is a forgotten function with no consequences in government administration in South Africa. The study further revealed that most governmental bodies have established internal audit units and audit committees. However, records-management professionals were excluded from such committees.Conclusion: The study concludes by arguing that if records management is removed as a footnote of the public-sector operations and placed in the centre of operational concern, it will undoubtedly make a meaningful contribution to good corporate governance.
Highlights
Introduction and background to the studyBarac (2001) describes corporate governance as the structures, processes, cultures and systems that stimulate the successful operation of organisations
The study concludes by arguing that if records management is removed as a footnote of the public-sector operations and placed in the centre of operational concern, it will undoubtedly make a meaningful contribution to good corporate governance
Results of interviews with Auditor-General of South Africa (AGSA) indicate that the major contributors to negative audit opinions in governmental bodies is a lack of supporting evidence for financial statement items and a lack of knowledge amongst finance staff to properly deal with accounting issues
Summary
Introduction and background to the studyBarac (2001) describes corporate governance as the structures, processes, cultures and systems that stimulate the successful operation of organisations. The International Records Management Trust (IRMT) (1999:64) posits that corporate governance is supported by three functions, namely, auditing, accounting and information management. The master was the listener, or auditor This explains the derivation of the word auditing from the Latin word (audiré, which is ‘to listen’), which acquired a secondary meaning: ‘One who satisfies himself as to the truth of accountability of another’ (Dandago 2009:95). This manifests in the book of Luke 16:1 in the Bible when Jesus told his disciples about the parable of the shrewd manager who was summoned by his master to orally account for his management activities. The manager lost his job as he could not account
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
