Evaluation of Corporate Governance practices at the Namibian Government Institutions Pension Fund (GIPF)

Master's Thesis , 2016 , 50 Pages

Business economics - Business Management, Corporate Governance

This evaluation of Corporate Governance practices at the Namibian Government Institutions Pension Fund (GIPF) is a qualitative single case study. The study utilized both primary and secondary data to answer the question whether GIPF was in compliance with the criteria relating to audit the committee, governance of risk as well internal audit functions as guided by the Namibia Code for Corporate Governance (NamCode).

The study concluded that overall, the Government Institutions Pension Fund is indeed complying with the majority of the aspects assessed regarding requirements for audit The committee, governance of risks as well as internal audit functions. It appears that in some cases, the company complies with certain criteria how it is being documented may not be exactly how it is guided by the governance framework as stipulated in the NamCode.

In most cases, where the study finds the company to be partially in compliance as opposed to full compliance, it is a question of the style used by the company in documenting how they are applying their corporate governance framework. Considering that only three out of nine principles of corporate were assessed; it is important to document that the survey only provide a snapshot of GIPF compliance to the governance framework and conclusions of this study cannot be taken as a complete view in any way.

The study recommends that the company conform to the style of documenting their application of corporate governance principles to that of the governance framework provided for in NamCode. The adjustment is very important as it will help in ensuring consistency and standards especially when studies of this nature are to be conducted again. Finally, the study recommends that assessment of all nine principles of corporate governance be conducted preferably on an annual basis if GIPF is to keep in touch with the reality in as far as how they are doing regarding compliance.

TABLE OF CONTENTS

ACKNOWLEDGEMENT

ABSTRACT

LIST OF TABLES

LIST OF FIGURES

CHAPTER 1: INTRODUCTION TO THE RESEARCH
1.1. Background of the Study
1.2. Problem statement
1.3. Purpose Statement
1.4. Research Question
1.5. Delimitations of the Study
1.6. Significance of study
1.7. Preface to the research report

CHAPTER 2: LITERATURE REVIEW
2.1. History and description of Government Institutions Pension Fund
2.1.1. Legal Framework
2.1.2. Governance and Management Structure
2.1.3. GIPF modus operandi
2.2. Risk management process at the Government Institutions Pension Fund
2.3. An introduction to corporate governance
2.3.1. Describing corporate governance
2.3.2. Principles of corporate governance
2.4. The framework Theories of Corporate Governance
2.4.1. Agency theory
2.4.2. Stewardship theory
2.5. The corporate governance code for Namibia (NamCode)
2.5.1. The Corporate Law
2.6. King III Report
2.7. State-owned Enterprises Governance Act, 2006
2.8. Conclusion

CHAPTER 3: RESEARCH METHODOLOGY
3.1. Research Strategy
3.2. Research Design
3.3. Population
3.4. Sample Design
3.5. Research Instruments
3.6. Procedure
3.7. Data analysis
3.8. Validity and Reliability
3.9. Research Ethics
3.10. Conclusion

CHAPTER 4: PRESENTATION AND DISCUSSIONS OF FINDINGS
4.1. Presentation of the findings
4.2. Audit Committee
4.2.1 Composition of the audit committee
4.2.2. Suitable skills and experience of independent non-executive directors
4.2.3. Components of the Integrated Reporting
4.2.4. The provision of summarized information to all stakeholders
4.2.5. The process of risk identification, management, and reporting
4.2.6. Audit committee report to the board and shareholders
4.2.7. Provision of required audit information in the integrated report
4.3. Governance of Risk
4.3.1. Characteristics of governance frameworks and processes to anticipating unpredictable risks
4.3.2. Board risk responses
4.4. Internal Audit function
4.4.1. Positioning of the internal auditing function in the company
4.4.2. Internal audit planning

CHAPTER 5: CONCLUSIONS AND RECOMMENDATIONS
5.1. Specific conclusions about the research questions

REFERENCES

APPENDICES

• Author: Joseph Ilonga (Author)
• Publication Year: 2016
• Pages: 50
• Catalog Number: V342289
• ISBN (eBook): 9783668348592
• ISBN (Book): 9783668348608
• Language: English
• Tags: evaluation, corporate, governance, namibian, government, institutions, pension, fund, gipf