The Integration and Reliance on Technology to Enhance the Independence and Accountability of Company Directors in South Africa

The most indispensable means of change in contemporary business society is technology because it offers convenience to both businesses and their clients. Almost every business has been influenced by technology. Traditional corporate governance systems have been affected as technology has ceased to b...

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Bibliographic Details
Main Authors: Friedrich Hamadziripi, Howard Chitimira
Format: Article
Language:Afrikaans
Published: North-West University 2021-06-01
Series:Potchefstroom Electronic Law Journal
Subjects:
Online Access:https://perjournal.co.za/article/view/10737
Description
Summary:The most indispensable means of change in contemporary business society is technology because it offers convenience to both businesses and their clients. Almost every business has been influenced by technology. Traditional corporate governance systems have been affected as technology has ceased to be a mere business enabler but is now a source of a company's future potential opportunities. The infusion of corporate governance and technology has been quite slow in South Africa. This may either be attributed to the fact that it is costly to do so, at least in the short term, or that company directors in South Africa do not yet trust technological measures with corporate decision-making input. Consequently, the impact of decision support technology on corporate entities and their governance has received less academic interest in South Africa than in developed countries. This article seeks to discuss the integration and reliance on technology to enhance corporate governance principles in developing countries like South Africa. The article also discusses the practical challenges and the benefits to be anticipated by directors in South Africa when they integrate technology in decision making to enhance their independence and accountability.
ISSN:1727-3781