WHY THE NEED FOR THIS UNIT?

Recent corporate scandals – both globally and locally – have focused the attention on the need for sound corporate governance and effective ethics programmes. However, the losses incurred by these high-profile cases are not the only problems. Far more damage is done in less spectacular fashion through bad decisions made by directors, not as a result of ill intent, but rather through lack of training and understanding of the basic values of corporate governance: honesty, transparency and accountability.

 Codes and guidelines such as the King II Report (South Africa), the Sarbanes-Oxley Act (USA) and the Combined Code (UK) followed to help combat fraud and corruption, and to encourage sound corporate governance. 

 Formal standards are only part of the solution. The founding of the Unit for Corporate Governance in Africa at the USB is a direct response to the African continent's need for a proper focus on corporate governance, through research, education and development initiatives.