Given the pervasive effects that COVID-19 and previous pandemics had on companies, the purpose of this study was to develop pandemic-related sustainability reporting guidelines to improve corporate reporting. Pandemic-related reporting was found to be a necessary part of companies’ sustainability disclosure. However, this is not required by any South African or international sustainability framework scrutinised by the researchers. Literature proves the wide-ranging effects of pandemics on companies’ sustainability, though current reporting practices are lacking. The researchers consequently developed corporate reporting guidelines that specifically require and formalise pandemic-related disclosure, through applying grounded theory. With the lack of pandemic-related reporting requirements in existing corporate sustainability frameworks, this study is the first, according to the researchers’ knowledge, to propose corporate reporting guidelines to inform stakeholders of companies’ sustainability regarding pandemics. Framework setters could use these guidelines by incorporating it into existing reporting requirements. The guidelines serve to encourage pandemic-related disclosure by companies with a genuine interest in sustainability. Such disclosure would provide important information for stakeholders, especially given the recurring yet unprecedented nature of pandemics.

Questionnaires are widely used in the Accountancy field as a data collection instrument. However, previous studies have contentious views on the reliability of questionnaires in academic studies. This study describes the development of a custom-made questionnaire to evaluate the effectiveness of a teaching-learning intervention, the Audit Cube, designed to affect the knowledge, skills, attitudes and values of Auditing of B.Com. honours students in the Accountancy field at a SAICA-accredited university. The questionnaire was distributed to 156 university honours students, whereafter it was validated and standardised. Most of the extracted factors indicated a reliability level higher than 0.9, signifying that the constructs were suitable to address the project's research question and that the questionnaire is valid. In conclusion, this study found that the use of questionnaires in academic studies is deemed reliable if a standardised process is followed in its development. Consequently, the study suggests that custom-made questionnaires should undergo factor analysis to prove the instrument's validity prior to reporting on the findings. The findings of this study may be useful to academics in providing guidelines in developing their own data collection instrument to measure the effectiveness of a teaching-learning intervention and may also support the use of questionnaires by researchers in the teaching-learning environment.

Orientation: The havoc created by COVID-19 reaffirmed the pervasive effects of pandemics on companies’ sustainability, which has become an increasingly important consideration for stakeholders. Research purpose: This study determined the sustainability elements of companies that are affected by pandemics. Motivation for the study: Pandemics’ recurring nature is evidenced by history. Knowledge of pandemics’ effects on sustainability may assist companies in preparing for and reporting on pandemics, while such information to stakeholders may be important when considering a company’s sustainability. Research design and method: The study followed a systematic review. The final sample constituted 30 records, which were thematically analysed. Main findings: A list of sustainability elements of companies that are affected by pandemics is provided. Government-imposed restrictions led to supply and demand shocks, severely threatening companies’ financial performance and socio-economic targets. Pandemics also present opportunities to improve business models by increasing focus on relationships, nature and digitalisation. Practical implications: This study may assist companies to minimise the effects of future pandemics on sustainability by urging them to recognise the interplay between sustainability’s components. Companies should have some financial leeway and consider the composition of its product/service range (essential versus non-essential) and the delivery thereof (traditional vs. e-commerce), consider and reduce its impact on nature, become more human-centric and finally, revisit their strategy through strong governance. Contribution: Current literature describes some effects of a single pandemic on companies within a specific industry, whereas this study’s scope is broadened to consider all pandemics and industries to derive an extensive list of affected sustainability elements. Current sustainability frameworks do not specify pandemic-related disclosure requirements, making the list useful as a reporting guideline.

The paper explores the relationships between a c omprehensive I ist of financial i ndicators and t he quality of Integrated Reporting disclosed in companies listed on the Johannesburg Stock Exchange. These relationships were investigated using the Ernst & Young (EY) Integrated Reports Awards and financial information obtained from IRESS Ltd for a selection of 45 companies over four years (2014 to 2017), and us ing S pearman rank-order c orrelations, a Breusch P agan t est, and five m ultiple regression analyses. The results indicate a similar trend in the direction of relationships between the baseline and other models, except for pr ice-earnings and net profit margin. Statistically significant positive relationships were identified between I ntegrated R eport Quality (IRQ) and a verage debtors collection (DEBT), earnings before interest, taxes, depreciation and amortisation (EBIDTA) and return on equity (ROE). Statistically significant negative relationships were identified between IRQ and fixed-assets turnover (FATURN), inventory turnover (INV), earnings before interest and taxes (EBIT) dividend yield (DIVYIELD), dividend cover (DIVCOV) and return o n capital employed (ROCE). The results of this study can assist companies in the effective and productive allocation of their capitals, which in turn will enhance long-term sustainability.

Universities have been forced to raise higher education fees with above inflation rates due to increasing operating costs and higher student numbers and decreasing real term government funding. While free higher education or other alternative funding models are being considered, the higher education sector is at stake: a sector that plays a vital role in creating improved lives for all South Africans. A sustainable framework is desperately required or universities will once again need to increase student fees at unreasonable rates to maintain quality. We therefore performed a mixed method documentary analysis to prove that fee-free higher education is not viable in South Africa as significant funds will either need to be reallocated from other sectors that also require funding, or it will have to be collected from already overburdened tax payers. The present study also developed a viable student fee regulatory framework with the use of grounded theory: subsidised higher education with the effective use of the already implemented National Student Financial Aid Scheme.

The #FeesMustFall campaign evolved from a demand for lower fees for higher education to fee-free higher education in merely two years, necessitating extensive reconsideration of the state budget. Over the same period, marginal tax rate and value added tax (VAT) increases have been felt by South African individual taxpayers. Therefore an exploratory, document analysis has been performed to determine the extent to which the #FeesMustFall campaign has been shifted to the individual taxpayer between the 2015 and 2019 years of assessment. The findings indicate that the demand for increased financial support of students led to the recent VAT and marginal tax rate increases, but that tax revenue is actually declining: the VAT increase has partially covered the increase in social grants to protect the poor from the VAT increase, and the marginal tax rate increase is resulting in reduced growth in tax revenue collection as individual taxpayers are overburdened and therefore, tax avoidance is increasing while productivity is decreasing. The present study provides taxpayers with clarity on the recent tax increases and emphasises to National Treasury that any further tax increase would be to the country’s detriment.

In a response to a wave of #FeesMustFall student protests, South Africa's presidency announced that there would be no student fee increases in the country's public higher education in 2016, which resulted in sudden shortfalls at universities. In addition, universities are faced with sturdy growth objectives set forth by the government combined with the reality of ever tightening budgets. We therefore performed a preliminary, qualitative study to explore the immediate responses of universities following the announcement. Our findings indicate that although the government contributed to the shortfall, some universities had to account for up to 30 per cent of it themselves. This resulted in relocation of funds, challenging the institutions' ability to meet the range of requirements set. Universities reported their concern about future planning in the context of lower student fees for 2016 and beyond in the absence of information regarding future funding. On the hand of Lewin's change management model, we find that the change process was insufficiently supported by the government and the Department of Higher Education and Training, leaving it incomplete. The present study provides a starting point for determining the ability of universities to meet growing requirements from the government, within existing and potentially worsening financial constraints, in further detail.

The International Standards on Auditing require of the external auditor to perform analytical procedures during audits. Analytical procedures range from simple to advanced, but available literature focuses on ratio and trend analysis for use in audits. This study therefore aims to analyse and compare the objective, advantages and disadvantages of selected analytical procedures other than ratio and trend analysis (Du Pont, Economic Value AddedTM (EVA), Altman’s Z-score and Benford’s Law) in an external auditing context by means of a qualitative literature analysis. Findings indicate that further analytical procedures significantly compliment ratio and trend analysis during audits, specifically during going concern evaluations and identifying error and fraud. Du Pont, Altman’s Z-score and Benford’s Law is found to be of particular value to the auditor, due to its cost benefit. EVA is found to be impractical to utilise by the auditor if not implemented by the entity. The study is an important contribution to the literature on analytical procedures as it is the first of its kind to analyse the objective, advantages and disadvantages of analytical procedures other than ratio and trend analysis in an external auditing context.

Adam Smith provides guidance through the four Canons of Taxation to assist government to design a good tax system based on a set of principles. These principles are being applied throughout the world, as well as in South Africa. However, the South African government has been challenged to reduce income inequality and promote growth. This has led to an increase in government spending. Although literature provides information about governmental spending, spending patterns have not been investigated. Therefore, this study followed a partially mixed sequential dominant status design by investigating actual versus budgeted governmental tax revenue and spending, as well as the relationship between governmental tax revenue, spending and the inflation rate. This was done for the period of 2000 to 2007, seven years before the global financial crisis and 2008 to 2017, seven years after the global financial crisis. Qualitative data were collected by means of a literature study to identify the main themes. The main themes were used in the investigation of the budgets and compared to the budget reviews. Quantitative data were analysed to determine the correlation between governmental tax revenue, spending and the inflation rate. The findings suggest a strong correlation between governmental tax revenue and spending but a weak correlation between the governmental tax revenue, spending and the inflation rate. This study will enable South African stakeholders, including the country’s residents and potential foreign investors, to determine the trend between governmental tax revenue, spending and inflation.

Adam Smithprovidesguidance through the four Canons of Taxation to assistgovernmenttodesign a good tax system based on a set of principles. These principles are being appliedthroughout the world, as well as in South Africa. However, the South Africangovernmenthasbeen challenged to reduce income inequality and promote growth. This has led to an increase ingovernmentspending.Although literature provides information about governmental spending, spending patterns have notbeen investigated. Therefore, this study followed a partially mixed sequential dominant statusdesign by investigating actual versus budgeted governmental tax revenue and spending, as well asthe relationship between governmental tax revenue, spending and the inflation rate. This was donefor the periodof2000 to 2007, seven years before the global financial crisisand 2008 to 2017,seven years after the global financial crisis. Qualitative data were collected by means of a literaturestudy to identify the main themes. The main themes were used in the investigation of the budgetsand compared to the budget reviews. Quantitative data were analysed to determine the correlationbetween governmental tax revenue, spending and the inflation rate. The findings suggest a strongcorrelation between governmental tax revenue and spending but a weak correlation between thegovernmental tax revenue, spending and the inflation rate.This study will enable South African stakeholders, including the country’s residents and potentialforeign investors, to determine the trend between governmental tax revenue, spending andinflation.

KING III INFORMATION TECHNOLOGY GOVERNANCE REQUIREMENTS – AN INTERNATIONAL COMPARISON

Information Technology (IT) plays a vital role in the operations of companies, easing most business processes. However, IT introduces unique risks for which governance is essential. The Johannesburg Stock Exchange (JSE) of listed companies are required to comply with the King Code of Governance 2009 (King III), including requirements related to IT, yet previous research indicated areas for improvement in compliance. This study determined the extent to which JSE-listed companies comply with the King III IT governance requirements by means of an empirical review of companies’ most recent financial reports, and found that not all businesses fully comply with these requirements. It is believed that this study will assist the Institute of Directors in Southern Africa, authors of the King reports, in clarifying the disclosure requirements of IT governance. These findings will benefit investors as agreement with governance is an important investment consideration. In addition, the present study clarifies compliance requirements of King III for companies’ management

The oil and gas sector is advantageous to South Africa. However, the country’s oil and gas reserves are minimal in relation to many other countries, reducing attractiveness to prospective investors. In the aim of promoting investment in the oil and gas sector of South Africa, attraction should be improved by other means, such as an alluring regulatory environment, including the taxation regime.The research conducted in this study aimed to determine whether the income tax legislation in South Africa provides a meaningful incentive for oil and gas companies to compete for international investment in this industry without unnecessarily compromising the State’s share of wealth from the industry. A literature review established the use and characteristics of meaningful tax incentives. The incentives contained in South Africa’s oil and gas tax environment were evaluated to determine whether the incentives can attract investment to the sector.Findings indicate that the incentive contained in the Tenth Schedule generally meets identified characteristics of meaningful tax incentives, enabling South Africa to lure investment to the sector. The interaction between this incentive and the remainder of the legislation, however, reduces the stability afforded to investors and may create uncertainty in the application of the incentive. Also, an apparent lack of monitoring of the regime may result in the impact and necessity of the incentive not being determinable, especially if the investor environment were to be affected by new discoveries.