The importance and effectiveness of corporate governance at a higher tertiary institution, UKZN.

Abstract

The main aims of this descriptive research study to establish whether the institution is properly governed and controlled. The study adopted a quantitative approach conducted among 100 support staff employees at various levels of management, this was done using a self-administered questionnaires to achieve the following objectives: i. To assess the effectiveness and efficiency of corporate governance structures are at the university. ii. To ascertain whether the university has adequate policies and procedures to address issues relating to enterprise risk (that is, strategic; financial; operational; compliance and reputational). iii. To establish whether various levels of management have different preferences regarding effective and efficient corporate governance at the university. The study results discovered that 70% of support staff members at various levels of management confirmed that there is effective and efficient functioning of corporate governance at UKZN. The study discovered that 72% of support staff members at various levels of management agreed that the university has adequate policies and procedures to address issues relating to enterprise risk. The study revealed that the majority of respondents agreed (100%) with all statements which verified their general knowledge of corporate governance as well confirming that UKZN has been knowledgeable in the area of corporate governance compliance. In conclusion, a positive way in which participants welcomed the study made it easy to achieve the study objectives which were in itself able to address the study problem. The high outcomes on the fact that UKZN has effective and efficient corporate governance was able to provide the study with the opportunity to propose the model and the corporate governance structure that will assist the university in sustaining the current status of corporate governance. Shortfall and weaknesses provided by the study enabled the researcher to recommend actions for implementation by management. The study achieved its objectives.