Significant shifts in relation to formal governance practice in South Africa : from an action research perspective. A work in progress: Implications for the Valley Trust.
Green, Elizabeth Goodwill.
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This dissertation explores the relevance of corporate governance in the nonprofit sector in South Africa, and asks the question "How can the application of current formal governance measures lead to positive change at The Valley Trust? ". Significantly, in South Africa it has been a time of transformation, with the emergence of world-class strategies to enhance governance in both the public and the private sectors. Are the principles of good governance are applicable too, to non-profit organisations? South Africa has evidence of relevant documentation both in the public and private sectors. In the private sector the King 2002 report strengthened the original King report which in turn was guided by the Cadbury report on corporate governance in the North. The King 2002 report on corporate governance is considered to be world class and emphasises risk management, leadership, direction, control and disclosure. The Public Finance Management Act, together with the subsequent Treasury Regulations and the local government's Municipal Finance Management Act, spell out the way forward for governance in the public sector with the emphasis on effectiveness, efficiency and economy as assessment criteria in terms of revenue, expenditure, assets and liabilities (REAL) with special reference to risk management and accountability. In terms of enhancing sustainability and good stewardship, The Valley Trust, a non-profit organisation working in Primary Health Care and Development in Southern Africa, has the opportunity to use the resources available, and to apply the current thinking and principles of good governance.