CAS1501 Assignment 4 (ANSWERS) Semester 2 2023 - DISTINCTION GUARANTEED

CAS1501 Assignment 4 (ANSWERS) Semester 2 2023 - DISTINCTION GUARANTEED Answers, guidelines, workings and references ......................Study the following video transcription; -rolling right it's enough -grand corruption at the highest level for the longest time and sadly the consequences of the staff will still be felt for many years to come -let me refresh your memories -state capture is much more than just corruption it sets out to repurchase key constitutional functions in order to create and maintain what is referred to as a shadow state some pretty bad people decided to go for the heartbeat of the country infiltrating and inflaming the arteries causing slowed silent -this -they did this without anyone noticing -until the country was immobilized -gosh be on it's knees this is the story of transnet -if you hear railway lines nowadays you immediately think of tk but dk start somewhere somehow what someone stealing millions of rans by dishing our top ministry positions to corrupt so at the very least inept individuals and then -cultivating fear and mistrust to the establishment of shadow institutions and lines of countability -my name is sabrina skating an investigative journalists were could tell from a very long time that this was coming to at the one thousand and sixty four project that transnet the trains will only meant to be delivered in two thousand and eighteen but the people who are blowing the whistle inside already saying to us that guy's you -got a massive problem yeah the thing is not going to be done but it's coming at probably the biggest costa transit has ever had to pay you know in in democratic south africa for us the signs all is the the erosion of accountability the erosion of process the erosion of all of these frameworks that we put in to safeguard governance -though maybe south africans think this has developed in the last few decades south africa's history with the shadows is much older -eighteen ninety -the then prime minister of the cape colony mr sisal john roads appointed political allies a james so right as is minister of transport -without putting the railway catering contract out to public tinder -he gave it to his old friend mr james logan -mr logan started off as a border at cape town station -and he ended up virtually oh mean the entire railway catering system -in the end in the scandal eat the papers mr rhodes us the entire cabinet to resign -he accepted their resignations and then promptly reappointed them all albeit mind assists of right -south africa underwent significant arch up after this -the south african war the first world war -the spanish flu the great depression -a second will double -oh yes -and along the way some drought -by nineteen sixty the country was mostly restored and to prove a tree posted a fifth largest railway system in the world carrying miners all over the country and service of apartheid south africa johnson it the second largest state owned enterprise in south africa -was established in nineteen ninety and underwent big changes with the dawn of democracy -under the leadership of mr mac maharajah the department of transport embarked on a project to review and revisit transport policy formulating new policy where necessary to adjust to the changed enviroment a key constitutional function was put out in a statement -to provide safe reliable effective efficient and fully integrated transport operations and infrastructure which will best meet the needs of freight and passenger customers at improving levels of service and castilla fashion which supports government strategies for economic and social development -whilst being environmentally and economically sustainable -what state owned enterprises being distracted structured in the style translate was the harbor freight transport boats and pipelines with a country so rich in minerals and boasting an ever growing agricultural industry one of the main priorities this is so he had was -to make sure good scott to consumers not only to local consumers but to ensure good travels overboard as far up north and were exported from ports -thirty years later and the system is so i'll load out that the infrastructure seizes to function -the consequences are quite clear the garrido of africa with hundreds of trucks getting goods on the in three between arms and borders -the road surfaces or destroyed -accidents happen daily and these trucks have become the target of hijackers looters and arsonists this is when the decay fine leads home -in twenty twelve johnson it's annual capital expenditure increased rapidly growing from twenty eight point three billion and to thirty one point seven billion landing twenty four deal and reaching thirty six point four billion in twenty fifty -this was the largest amount ever spent in a single yeah transnet and also the time when the most looting took place the greatest travesty about this whole political or economic transformation is that it feeds off our -view that in all the damage to states that was caused by state capture is only in the money that was lost but think about all of the people that were standing in the way of all of this theft you know the people that were senior executives inside and finance and transnet for instance the a treasure was hounded out and you've got -similar individuals inside as common sight is a and for me the greatest irony of causes that these were some of the most excellent black executives that the state had invested in you know these were people that even during the days of the struggle the nc had pinpointed these people and taken them to some of the best schools in the world the came back to become -the backbone of this new transformed public service within a short space of time the captures had basically hounded all of these people out there was these women and women of integrity -how does so many people get to be on the right side of wrong -capital expenditure was meant for property upgrades technology and equipment that draw the it became another governmental failure or feast taking procurement for development internally and it's not like they haven't been other cautionary tales remember the arms deal -finding evidence is easy the story that doesn't just have a smoking gun but the smoking gun and -and nine billion rand kickback just on the train deal let alone the other by and maladministration -with money being funneled to do by the u a e and china -deals with companies like trillion sap libor and kneeled down to name a few cost us a so he billions of lanes and in fact a still costing south africans billions of friends -these individuals outside of transnet are the ones that are actually running the show they had the key man that the chief financial officer a norge seeing movies a chartered accountant his role as a chartered accountant in an organization is to actually advise the board and the rest of the executives on the financial risk and the financial empire -october investments or with nature -so if you want to cheat the system in that way he's the perfect person to do it and of course we know now through various investigations that he got rewarded handsomely for doing that were true then discover in terms of the investigation looking at the outside individuals salim esa one of these companies called to castor was registered in asia actually went -as far as picking up about six billion rand and kickbacks or call it kickbacks be was these guys had no value at all that they aditya and of cause we now know that us there was nothing more than a cop different so it was all this elaborate scheme that the put in place to literally take our money from the first cause for adding know -no value to the process at all that was the height of capture as we know it so where do we start in two thousand and nine then minister of public enterprises barbara hogan was given orders by former president jacob zuma to a point mister see a buddha dharma i c e o of johnson it -minister hogan did not want to a point mister gum -he had several distributable allegations against him at the time -being fired as c o of the if our for fraudulently awardee a security service contract to another government minister mr cp really young -minister hogan was convinced that the man for the job was mr see a sick -former president zuma ever insisted on waiting until mister gamez disciplinary hearings will conclude that -but mr hogan was flabbergasted by this and upon asking with a president could interfere with the appointment of a c e o public feedback was a definite no -regardless of this minister gun was fired by former president zuma -and miss see abunga gama well he went on to become see our translate -replacing barbara how can this minister public enterprises enters the slick and fashionable mr mom do see aqaba young ambitious and politically savvy mr gaba made several changes to boards of translate eskom and to now after being -appointed -together with these bullets they appointed mister prime a lefty scf of trans states -from this nave many sinister developments products head -let's choose just one chair fresh memory about the stock time the train robbery the famous locomotive iced -it starts in two thousand and twelve months ago was just come in as public enterprises minister the appoint a new board the inside these board or some individuals of questionable character the then sit and consider report from the executive that suddenly talks about this mess of boom in the economy that is -gonna require a huge investment in freight and and real capability the vision is that they need to buy about the thousand locomotives to actually try and meet up with this demand that's coming except when this proposition that makes it to the board is a thirty nine billion rand proposition the board then accept the truth -about going through all of the due diligence and then then what happens is that when the work is started the same executives come back and say that we now need to increase in this whole thing by sixteen billion rang again no one on the board actually suits and says but sixteen billion rand is a hell of a lot of money mckinsey played that -role in terms of determining a need that really wasn't there at the time in the economy oil and transmit but what we know up when investigating his that it reveals very serious worries about the relationships between the executives in these consulting firms of the stuff that's been done internally inside transferred the experts to account -students you know that to internal audit are now not picking up what the or to be picking up not be was it's been hidden from them but the was they are also part of these rules one of the biggest problems you've got in south africa is that you had a lot of audit firms have these consultancy you would have seen quite recently kpmg and now -one thing that for companies that they're doing auditing services for they won't give out any other management services because that's where the conflict is created and that's where these things get heated remember accountants the how to a higher standard because of the work and the sort of character that the profession presents itself as -but when we've come to discovered is that the is fallible as the next person without the hard work of investigative journalists and platforms like i'm a boom gandhi and scorpio it is likely that south africans would not know the to extent of translates shadow story -and trying to change cheap the new see miss push dhabi was appointed with a clear instructions to rebuild and reinforce good governance at transnet which includes reviewing systems up the essay itself and to a game for full it's to mandate to be in service of the people up this scan -entry so what trade drum -once it undue influence being brought to bear by those in power -what's that the complicity of the private sector -what's that the self interest up those in charge driving these decisions where was the breakdown in the levels of governance guarded it by what it says the board a and other guardians of governance -could we have avoided some of these scandals and what are we doing to drive change and not be part of a failed system -we need to get to a place we realize that everything that we do is and services for south africa we've all seen what this malfeasance and corruption is down to south africa it's time that we sit back and would take stock -and we asked ourselves how do we contribute it affects me when the public no longer believes what i'm trying to tell them and i feel that some books or movies i'm trying to tell them a very important psycho is proud to commit to a future integrity and the fight against corruption -if it takes a politician to steal a country and an accountant to make it legitimate as accountants we choose to be held accountable -we have to lean still a sense of purpose along with building a capable state and to regenerate the trustee know processes that will allow us to be bought off change. B1.1 Name the organisation analysed in the video. B1.2 Using the video content, name (not a sentence) the MAIN overall problem experienced at the organisation in B1.1 over the last 13 years. The answer is NOT normal fraud and corruption. B1.3 Using the video content, name the FOUR elements of the problem in B1.2. B1.4 Using the video content, in one or two full sentence(s), describe the KEY problem behind a transaction that forms part of the problem in B1.2. B1.5 Using the video content, list THREE factors that contribute to the MAIN problem stated in B1.2 being the ‘grandest’ ever. B1.6 Using the video content, in one or two full sentence(s) describe TWO key changes made at the organisation in B1.1 that initiated the problem in B1.2. B1.7.1 Using the video content, in one or two full sentence(s) describe a key problem at audit firms that led to the problem in B1.2. B1.7.2 Using the video content and Study unit 2.2.6.8, explain how the problem at audit firms enabled the problem in B1.2. B1.8 In one or two full sentence(s), compare your description of the problem in B1.2 to the conduct described in Study unit 3.4.1. B1.9 In one or two full sentence(s), compare your description of the problem in B1.2 to the conduct described in Study unit 3.4.2. B1.10.1 From Study unit 3.2.2 name the one mechanism able to prevent problems such as the one described in B1.2. B1.10.2 From Study unit 3.2.2 specify who in an organisation has the OVERALL responsibility for implementing the mechanism named in Study unit 3.2.2. B1.10.3 In one or two full sentence(s) explain how the mechanism in B1.10.1 may prevent problems such as the one described in B1.2. B1.11.1 Name the role described in Study unit 2.4.1.2. B1.11.2 In one or two full sentence(s), describe TWO ways in which the problem in B1.2 prevented the organisation from playing the role described in Study unit 2.4.1.2. B1.12 In one or two full sentence(s), use Study unit 2.4.1.3 to explain what is the KEY underlying shortcoming causing the problem in B1.2. B1.13.1 From Study unit 4.3 name the ONE viewpoint most closely aligned to the problem in B1.2. B1.13.2 In one or two full sentence(s), use Study unit 4.3 to explain HOW the viewpoint in B1.13.1 caused the problem in B1.2. B1.14.1 From Study unit 4.6.2 name the ONE MAIN principle breached by all of those causing the problem in B1.2. B1.14.2 In one or two full sentence(s), use Study unit 4.6.2 to explain HOW the principle in B1.14.1. was breached by those causing the problem in B1.2. B1.15.1 From Study unit 4.6.2 name an instrument typically used by an organisation (business) to limit problems such as the one in B1.2. B1.15.2 In one or two full sentence(s), use Study unit 4.6.2 to explain HOW the instrument in B1.15.1 limits problems like the one in B1.2. B1.16.1 From Study unit 4.5.2 name ONE factor impacted by the problem in B1.2. B1.16.2 In one or two full sentence(s), use Study unit 4.5.2 to describe TWO impacts of the problem in B1.2 on the factor in B1.16.1. B1.17.1 From Study unit 4.5.2 name a SECOND factor impacted by the problem in B1.2. B1.17.2 In one or two full sentence(s), use Study unit 4.5.2 to describe ONE impact of the problem in B1.2. on the factor in B1.17.1. B1.18.1 From Study unit 4.5.3 name the case described. B1.18.2 In one or two full sentence(s), describe the main difference between the case in Study unit 4.5.3 and the problem in B1.2 by describing the main distinguishing attribute of each. B1.19 In one or two full sentence(s), describe ONE main similarity between the case in Study unit 4.5.3 and the problem in B1.2. B1.20.1 From Study unit 3.3 name the ONE concept most relevant to the problem in B1.2. B1.20.2 In one or two full sentence(s), describe how the concept in B1.20.1 applies to the problem in B1.2. B1.20.3 From the video, in one or two full sentence(s), describe an example supporting your answer in B1.20.2. B1.21.1 In the video two kinds of erosion are blamed for the problem in B1.2. Name the ONE type of erosion that links to the content in Study unit 1.3.4.4. B1.21.2 From the video, in one or two full sentence(s) describe how the erosion named in B1.21.1 occurred. B1.22.1 From the video, name the role of a member of one of the accountancy professions who was singled out for contributing to the problem in B1.2. B1.22.2 From the video, name the accountancy body that the person in B1.22.1 was a member of. B1.22.3 From the video, in one or two full sentence(s) describe what the role in B1.22.1 required. B1.22.4 From the video, in one or two full sentence(s) describe what the person in the role in B1.22.1 actually did. B1.23.1 From the video and Study unit 2.4.2.3, name the ONE role-player who most significantly contributed to the problem in B1.2 at the organisation. B1.23.2 From the video and Study unit 2.4.2.3, in one or two full sentence(s) describe HOW the role-player in B1.23.1 most significantly contributed to the problem in B1.2 at the organisation. B1.23.3 From the video and Study unit 2.4.2.3, in one or two full sentence(s) describe ONE example on how the role-player in B1.23.1 most significantly contributed to the problem in B1.2 at the organisation. B1.24.1 From Study unit 2.4.2.5, name the role-player who should have stepped in when the problem in B1.2 occurred at the organisation. B1.24.2 From Study unit 2.4.2.5, in one or two full sentence(s) describe the mistake that was likely made by the role-player in B1.24.1 when the problem in B1.2 occurred at the organisation. B1.25.1 From Study unit 2.4.2.9, name the ONE role-player who should have stepped in when the problem in B1.2 occurred at the organisation. B1.25.2 From Study unit 2.4.2.9, in one or two full sentence(s) describe the mistake that was likely made by the role-player in B1.25.1 when the problem in B1.2 occurred at the organisation. B1.26.1 From Study unit 2.4.2.10, name the role-player who should have stepped in when the problem in B1.2 occurred at the organisation. B1.26.2 From Study unit 2.4.2.10, in one or two full sentence(s) describe the mistake that was likely made by the role-player in B1.26.1 when the problem in B1.2 occurred at the organisation. B1.27.1 From Study unit 2.4.2.11, name the role-player who should have stepped in when the problem in B1.2 occurred at the organisation. B1.27.2 From Study unit 2.4.2.11, in one or two full sentence(s) describe the mistake that was likely made by the role-player in B1.27.1 when the problem in B1.2 occurred at the organisation