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E‐commerce has changed the way in which business is conducted. One instance of this is that it has made the digitisation of products possible. This shift has severe implications for traditional consumption taxes, which were developed under the premise of a physical presence in a tax jurisdiction. A large number of countries in the world that impose Value‐Added Tax (VAT) on the supply of goods and services, including South Africa, are affected by this shift. The Organisation for Economic Cooperation and Development (OECD) has suggested a number of principles that should apply to consumption taxes in e‐commerce. These principles are intended to provide fiscal climates in which e‐commerce can flourish and ensure taxation systems that secure individual countries’ tax bases. A comparison between the OECD principles and the rules pertaining to the imposition of VAT in South Africa on the supply of digitised products reveals several discrepancies and uncertainties. A baseline survey among VAT specialists in South Africa, conducted in order to substantiate these findings, confirmed these discrepancies and uncertainties in practice.

Controlled foreign company (“CFC”) legislation, governed by section 9D of the Income Tax Act 58 of 1962, serves as anti‐avoidance legislation in South Africa’s residence‐based tax system. Section 9D provides for the calculation of a deemed amount which must be included in the South African resident’s income. This deemed amount is calculated with reference to the net income for the CFC’s foreign tax year. Section 9D(6) provides for this deemed amount, which is denominated in the foreign financial reporting currency, to be translated into South African rand by applying the average exchange rate for that year of assessment. The legislation refers to the South African resident’s year of assessment and not the CFC’s foreign tax year. It is submitted that the average exchange rate for the CFC’s foreign tax year should be used for translation. The author therefore disputes the period to be used in calculating the average exchange rate.

The purpose of this research was first to determine the competencies mandatory of risk managers, and second, to consider the implications of such competencies in determining modules appropriate for inclusion in any prospective undergraduate qualification with specialisation in risk management.

A qualitative research approach was followed, involving academics teaching risk management in a focus group and making use of interactive qualitative analysis (IQA).

The competencies identified were business management skills, financial knowledge, an understanding of the risk management process, governance and compliance, people management and technical skills. These will be explained in greater detail in the paper.

The implications for teaching are that an undergraduate curriculum in risk management will have to combine majors such as business management, financial management, risk management, industrial psychology and communication. These majors need to be complemented by modules in governance and compliance management, as well as information and communication technology.

The implication for practice is that risk management professionals and members of the Institute of Risk Management of South Africa need to avail themselves to serve on an advisory board of academic departments offering risk management qualifications. Risk management is a developing science and requires inputs about research and the curriculation of qualifications.

The implication for public policy is that the South African Qualifications Authority and the Council for Higher Education should reconsider their requirements for designators (specialised qualifications). The implications for research are that IQA provides clarity on the knowledge and skills required to develop a competency-based qualification in risk management. Further research should benchmark qualifications and propose a curriculum for a bachelor’s degree in risk management.

The use of IQA is a novel way of ensuring rigour and objectivity in arriving at a description of the required knowledge, skills, values and attributes of risk managers. This paper will assist in the compilation of a new curriculum for an undergraduate qualification in risk management; thus, ensuring such qualification will provide a competency-based qualification that will meet the needs of the profession.

The purpose of this paper is first to determine the competencies required of risk managers and second to consider the implications of such competencies in determining modules for inclusion in the curriculum framework of an undergraduate qualification in risk management.

A qualitative research approach was followed, involving risk management professionals in a focus group and making use of interactive qualitative analysis (IQA).

The competencies identified are managerial and risk management knowledge, attributes such as assertiveness and steadfastness and ethical values, as well as people and technical skills. These are explained in greater detail in this paper.

The unique contribution of the current research was the innovative use of IQA for data collection, the removal of subjectivity and the rigour in analysing and presenting the results. The results provide a starting point for designing a curriculum that will both meet the requirements of the professional body and will equip graduates with the best possible combination of knowledge, attributes, values and skills needed by the risk management profession. The implications for further research include that a comparative IQA study of the competencies of risk managers using academics from the field could be undertaken, as well as a study of the design, benchmarking and validation of a proposed curriculum for an undergraduate degree in risk management. The purpose of this study was not to compile a curriculum for a new BCom (risk management). However, this was beyond the scope of the current study. IQA uses rigour and eliminates the bias of the researcher, and the one limitation of this research lies in the use of a focus group, which resulted in the findings not being generalizable as the case would have been with a representative sample used in the positivist paradigm and using appropriate statistical analysis. However, this study was exploratory and could serve as a valuable starting point for further research in this area to perform a comprehensive curriculum development.

This study found that constituents of the focus group perceived that the following competencies are required of risk managers, namely, knowledge, skills, attributes and values. These competencies correspond closely with the competencies indicated in the Risk and Insurance Management Society (RIMS) Professional Core Competency Model, except that RIMS subdivides knowledge into three categories, namely, business, organisational and risk management knowledge. Similarly, RIMS distinguishes between management skills and technical skills. The attributes identified by the focus group of this study were similar to those identified by RIMS. However, the focus group emphasised values such as integrity, ethical conduct, respect and accountability. However, unlike RIMS, these were not perceived as one of the five core competencies, but rather as a stand-alone competency in its own right, which risk managers need to be successful. RIMS could consider reviewing its core competencies by allocating three closely related aspects, namely communication, collaboration and consultation to technical skills. Core competencies may be replaced by core values, which are literally at the centre of all the competencies required. Such core values are enhanced by the RIMS Code of Ethics (2019) and significantly contribute to the professionalization of risk management. RIMS could also consider providing guidelines to universities for those competencies that could be taught or learnt, to be included in their curricula and to accredit universities who meet such requirements.

The findings of this study also serve as a starting point for the reintroduction of a BCom (risk management) degree by Unisa. Despite the requirements of the South African Qualifications Authority (SAQA) and the Council for Higher Education (CHE), this study demonstrated that a specialised degree in risk management needs to be offered to meet the need expressed by IRMSA for professional risk managers in Southern Africa, and such a degree should ideally be curriculated based on the competencies identified in this article. The implication for public policy is that SAQA and the CHE need to reconsider their rigid stance about the composition of specialised qualifications, and rather set a range of 33-50% for subjects from the field of specialisation that must be included in the curricula of specialised degrees. As indicated by this research, a combination of subjects from different disciplines is required to enhance the competencies and employability of risk management graduates.

The use of IQA is a novel way of ensuring rigour and objectivity in arriving at the required knowledge, attributes, values and skills of risk managers, and aids in the compilation of a new curriculum for an undergraduate qualification in risk management, thus ensuring the qualification will provide a competency-based qualification that will meet the needs of the profession.

Entrepreneurship, Corporate sustainability, CSR, Supply chain.

Master's courses: Entrepreneurship, Strategic management.

In 2002, potential risks deriving from emerging normative demands in the CSR debate prompted Axel Springer (AS) to rethink their supply chain strategy for Russian wood. Being one of the first movers in CSR in the publishing business, AS realized that current practices could spark future public discussion that might put pressure on AS, a key player in these supply chains. In early 2002, AS and one of their main suppliers, Stora Enso, started a joint initiative to redesign the supply chain processes in two of the major Russian logging regions to improve their social and ecological performance. Sometime later, other major players in the publishing sector as well as critical reviewers from several non-governmental organizations (NGOs) were invited to participate in the design of the new voluntary sustainability initiative called “Tikhvin Chalna project”, the second phase of which was accomplished by the end of 2006.

Learn that organizations (specifically high-brand owners) are responsible for practices within their entire supply chains (social as well as environmental performance).

Explore proactive corporate sustainability, CSR strategies are market but also institutional driven; Strategizing involves forming and transforming the rules, norms and standard models of customers as well as institutions such as NGOs or governmental bodies. Whether the initiator of such strategy is successful in increasing or manipulating demands is dependent on its resources and capabilities as well as on its network position. The case supports students in understanding resources being used to successfully transform or create institutional arrangements.

Discover that the value of a business' relationships and its network position.

Teaching note, Video files

In order to be successful, micro‐enterprise owners in South Africa face several management challenges. To overcome these challenges it is crucial that they possess sufficient financial management skills to ensure business survival and growth. This article focuses on determining the extent to which the critical financial management skills that micro‐enterprise owners in South Africa require differ from those they possess, in order to identify specific interventions to develop the skills that are lacking. It was found that most micro‐enterprise owners do not possess the critical financial management skills required. Recommendations are made on how members of the accounting profession could become involved in developing these skills.

Biodiversity conservation tax incentives were inserted into the Income Tax Act 58 of 1962 in terms of the Revenue Laws Amendment Act 60 of 2008 and are now contained in section 37C. The objectives of this study were to quantify the maximum potential revenue loss, to National Treasury, as a result of these tax incentives granted to landowners in the Western Cape; to identify and discuss alternative policy instruments to encourage conservation; and to investigate the perceptions of landowners in the Western Cape on the tax and alternative incentives available for conservation. The study found that the maximum tax revenue foregone should amount to a tiny percentage of total estimated revenue income for the 2008/2009 fiscal year, while projected future losses could also be insignificant. Landowners prefer direct financial incentives and exemption from property taxes, and contend that direct assistance with conservation activities would also be beneficial. The use of municipal value in the valuation of land would promote objectiveness and consistency. Finally, only a third of the landowners indicated that tax incentives would encourage them to commit more land for conservation.

This paper aims to show that by using air source heat pump (ASHP) water heater in the residential sector, the energy consumption from sanitary hot water production can be reduced by more than 50 per cent. Hence, this study quantitatively and qualitatively confirms that domestic ASHP water heater is a renewable and energy efficient device for sanitary hot water production.

Design and building of a data acquisition system comprises a data logger, power meters, flow meters, temperature sensors, ambient and relative humidity sensor and an electronic input pulse adapter to monitor the ASHP water heater performance. All the sensors are accommodated by the U30-NRC data logger. The temperature sensors are installed on the inlet pipe containing a flow meter and the outlet pipe of the ASHP unit, the vicinity of both evaporator and expel cold air. An additional temperature sensor and a flow meter that cater for hot water drawn off measurements are incorporated into the data acquisition system (DAS).

The result from a specific monitoring split type ASHP water heater gives an average daily coefficient of performance (COP) of 2.36 and the total electrical energy of 4.15 kWh, and volume of hot water drawn off was 273 L. These results were influenced by ambient temperature and relative humidity.

The cost involved in purchasing the entire sensors and data logger limits the number and categories of ASHP water heaters whose performance were going to be monitored. Pressure sensors were excluded in the data acquisition system.

The data acquisition system can easily be designed and the logger can also be easily programed. Hence, no high technical or computer skills are needed to install the DAS and to be able to read out the results.

Hence, the data acquisition system can be installed on the entire domestic Eskom roll out air source heat pump water heaters to effectively determine the coefficient of performance and demand reductions.

This DAS is the first of its kind to be built in South Africa to be used to determine the performance of an ASHP water heater with high accuracy and precision. DAS is also robust.

The high occurrence of procurement fraud requires the management of an enterprise, the risk manager of the enterprise and the internal auditor to address procurement fraud risks effectively within the enterprise risk management concept. The purpose of the article is to explain a procurement fraud risk management process which will serve as a comprehensive framework for enterprise risk managers and for internal auditors to limit the enterprise’s exposure to procurement fraud as far as possible. The study by Venter (2005) on which the article is based proposes a procurement fraud risk matrix which can be used to manage fraud risks within the procurement function efficiently. This matrix is based on the Committee of Supporting Organizations of the Treadway Commission’s (COSO’s) Enterprise Risk Management ‐Integrated Framework which is specifically applied to address the procurement fraud risk problem.

This paper aims to compute demand, consumption and other avoidance saving by replacing existing geysers with split and integrated type air source heat pump (ASHP) water heaters, to prove the potential of both ASHP water heaters in both winter and summer by virtue of their coefficient of performance (COP) during the vapour compression refrigeration cycles and to demonstrate that despite the viability of both split and integrated ASHP system, the latter exhibits a better performance in terms of its COP and achievable savings and load factor.

This research emphasised the use of the data acquisition system housing various temperature sensors, power metres, flow metre, ambient temperature and relative humidity sensor to determine electrical energy consumption and useful thermal energy gained by the hot water in a geyser and storage tanks of residential ASHP water heaters. The load factors, average power and electrical energy consumptions for the 150 L high-pressure geyser, a 150 L split and integrated type ASHP water heaters were evaluated based on the controlled volume (150, 50 and 100 L) of daily hot water drawn off.

The results depicted that the average electrical energy consumed and load factors of the summer months for the geyser, split and integrated type ASHP water heaters were 312.3, 111.7 and 121.1 kWh and 17.9, 10.2 and 16.7 per cent, respectively. Finally, the simple payback period for both the split and integrated type ASHP water heaters were determined to be 3.9 and 5.2 years, respectively. By the application of the Eskom’s projected tariff hikes over the years, the payback periods for the split and integrated ASHP water heaters could be reduced to 3.3 and 4.1 years, respectively.

The experiments were conducted in a controlled outdoor research facility as it was going to be of great challenge in conducting both experiments simultaneously in a specific home. The category of the different types of ASHP water heaters was limited to one due to the cost implication. The experiment was also conducted at a single location, which is not a full representation of all the ambient conditions of the different regions of South Africa.

The experiments were done with a specific controlled volume of hot water drawn off from each of the three hot water heating devices. The experiments was structuring controlled to a specific volume of hot water drawn off and at specific period of the day and hence to not cater for random drawers and intermittent drawn off.

The findings help to assure homeowners that irrespective of the type of ASHP water heaters installed in their residence, they can be guarantee of year-round performance and a favourable payback period provided their hot water consumption is over 200 L per day. Also, although the split type ASHP water heater performed better than the integrated system the cost of installation and maintenance will be higher in a split type in comparison to the integrated type. Finally, by successful implementation of either of the ASHP water heaters the home owner can substantially save of his hot water bill.

The experimental design and methodology is the first of its kind to be conducted in South Africa. The results and interpretation were obtained from original data collected from the set of experiments conducted. Also, the authors are able to show that the introduction of back up element in an ASHP unit to run simultaneously with the vapour compression refrigeration cycles of the ASHP can reduce the COP of the overall system.