From the editor

July 2003 News & Events

Welcome to another issue of Safeguard, a Hi-Tech Security Solutions supplement aimed specifically at the security and risk management services industries in order to promote security's role in corporate governance.

Following the release of the King II Report, good corporate governance seems to be all the rage these days. Yet, as Mariaan van Kaam of VoiceIT South Africa, points out, what many companies overlook is the vital role that security plays in this process - a role that might in the very near future have legislative impact. "High profile cases of blatant fraud, both locally and internationally, have focused security's role in corporate governance," says Van Kaam.

"More and more, people are asking the question of how could employees - management or otherwise - get away with their fraudulent activities for so long?" The answer lies in sloppy corporate governance policies, which have allowed dishonest individuals to take advantage of the system to their own benefit. Van Kaam points out, however, that that is a trend that is going to change as shareholders could start taking direct legal action against company directors and managers in their personal capacities for any fraud or mismanagement that takes place. King II, the Public Finance Management Act and the Money Laundering Act are a few of the initiatives raised recently to address this problem.

Worldwide, the trend towards legislated personal responsibility is on the uptake. "In the USA, for example, recent legislation has compelled CEOs to personally vouch for the veracity, timeliness, and fairness of their companies' public disclosures, including their financial statements, and the Securities Exchange Commission has been given the power to freeze improper payments to corporate executives when a company is under investigation," explains van Kaam. The new laws have led to a spate of arrests and trials of company executives and employees, all with the idea of trying to prevent another Enron type scandal.

Here in South Africa, we have the King II report, which although not legislated, carries a moral weight that without doubt can be used as a basis for any court action by shareholders for compensation in the event of loss due to poor corporate governance.

While it is more commonly known that King II requires specific accounting policies to be followed, it is less well known that it also includes an obligation on the part of directors to ensure that all reasonable steps have been taken to ensure that physical company assets are protected and that ethical and integrity standards are upheld through leadership, awareness, communication and training, among others. And as Van Kaam correctly points out: "companies now have to draw guidelines on security polices, and will have to implement them in terms of a broader coordinated sustainable integrated reporting system."

We want to know

We would like to hear your thoughts about Safeguard. Send us your comments and suggestions about the editorial content and layout style of this publication to [email protected], and we will do our best to accommodate them.

Gerard Peter, Editor

[email protected]





Share this article:
Share via emailShare via LinkedInPrint this page



Further reading:

Highest increase in global cyberattacks in two years
Information Security News & Events
Check Point Global Research released new data on Q2 2024 cyber-attack trends, noting a 30% global increase in Q2 2024, with Africa experiencing the highest average weekly per organisation.

Read more...
The power of PKI and private sector innovation
Access Control & Identity Management News & Events Government and Parastatal (Industry)
At the recent ID4Africa 2025 Summit in Addis Ababa, the spotlight was firmly on building secure, inclusive, and scalable digital identity ecosystems for the African continent.

Read more...
Bosch Security renamed Keenfinity
News & Events
Globally renowned brands for video systems, access control and intrusion alarm systems, as well as communication systems, unite under the roof of the new company Keenfinity Group.

Read more...
2025 video surveillance market set for improved fortunes
News & Events Surveillance
Novaira Insights has unveiled its latest report, World Market for Video Surveillance Hardware and Software – 2025 Edition, forecasting a healthy growth rate of 8,1% until 2029, excluding China.

Read more...
Wialon announces integration with fleet maintenance and optimisation platform
News & Events Transport (Industry) Logistics (Industry)
Fleet management software platform integrates with a fleet maintenance and optimisation platform to support mutual customers for better workflows and deeper insights into fleet operations.

Read more...
DeepSneak deception
Information Security News & Events
Kaspersky Global Research & Analysis researchers have discovered a new malicious campaign which is distributing a Trojan through a fake DeepSeek-R1 Large Language Model (LLM) app for PCs.

Read more...
Almost 50% of companies choose to pay the ransom
News & Events Information Security
This year’s Sophos State of Ransomware 2025 report found that nearly 50% of companies paid the ransom to get their data back, the second-highest rate of ransom payment for ransom demands in six years.

Read more...
Value and industry insight
Securex South Africa Training & Education News & Events
Securex South Africa 2025, co-located with A-OSH EXPO, Facilities Management Expo, and Firexpo, drew thousands of security professionals from across the continent and beyond, offering a platform for networking, product discovery, and knowledge sharing.

Read more...
Gallagher Security achieves ISO 27001 recertification
News & Events Training & Education
Gallagher Security has successfully achieved certification to the updated ISO/IEC 27001:2022 standard for Information Security Management Systems (ISMS). This accomplishment builds on previous certifications and reflects a continued commitment to the highest standards of information security.

Read more...
Survey highlights cost of cyberdamage to industrial companies
Kaspersky Information Security News & Events
The majority of industrial organisations estimate their financial losses caused by cyberattacks to be over $1 million, while almost one in four report losses exceeding $5 million, and for some, it surpasses $10 million.

Read more...










While every effort has been made to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors contained, or any loss incurred as a result. Articles published do not necessarily reflect the views of the publishers. The editor reserves the right to alter or cut copy. Articles submitted are deemed to have been cleared for publication. Advertisements and company contact details are published as provided by the advertiser. Technews Publishing (Pty) Ltd cannot be held responsible for the accuracy or veracity of supplied material.




© Technews Publishing (Pty) Ltd. | All Rights Reserved.