CAS1501 ASSIGNMENT
6 2024 (PORTFOLIO)
C1:
Reflect on your CAS1501 journey:
"CAS1501 has helped me recognize the importance of ethical responsibility, and this is
shaping how I will make decisions as a future accountancy professional to uphold public
trust."
C2: Copy the full sentence indicating the basis of PICS’s criminal charges against Mr.
Gwarube:
"A South African organisation focused on Protecting the Interests of Civic Society (PICS) laid
criminal charges against Mr Gwarube for violating his obligations in terms of both the
Companies Act and the Public Finance Management Act (PFMA)."
C3.1:
Motivate why the charges against Mr. Gwarube are considered criminal:
The charges against Mr. Gwarube are considered criminal because they involve violations of
statutory obligations under the Companies Act and PFMA, which regulate public financial
conduct. His actions allegedly caused harm to the organization by prioritizing personal gain,
aligning with common elements of criminal offenses such as breach of fiduciary duty and
corruption.
C3.2:
Reference for C3.1 research: Companies
Act 71 of 2008.
, C4:
Copy the full sentence describing the accusation brought against Mr. Gwarube by PICS:
"The charges against Mr Gwarube are based on leaked emails highlighting Gwarube’s role
in the sharing of sensitive KiloWatt information in return for his own personal financial
gain."
C5:
In the eyes of society, Mr. Gwarube compromised the required role by acting against the best
interests of KiloWatt and using his position for personal financial gain, violating both the Companies
Act and the PFMA.
C6:
The most relevant skill that Mr. Gwarube lacked is: "Accountability."
C7:
Two key attributes of the skill "Accountability" that Mr. Gwarube clearly lacked are:
1. "Taking ownership of actions."
2. "Being answerable to stakeholders."
C8:
KiloWatt falls into the public sector.
C9:
KiloWatt is a state-owned enterprise, meaning it is owned and controlled by the government, making
it part of the public sector.
C10:
The main management of KiloWatt is the board of directors.
C11.1:
One key mechanism used by KiloWatt is the implementation of internal controls.
C11.2:
A second key mechanism used by KiloWatt is the appointment of a social and ethics committee.
C12:
Mr. Gwarube’s role at KiloWatt was the chairperson of the board.
C13: No
C14:
Mr. Gwarube did not fulfill the requirements of his role, as he violated fiduciary duties by prioritizing
personal gain over the organization’s interests.
C15:
6 2024 (PORTFOLIO)
C1:
Reflect on your CAS1501 journey:
"CAS1501 has helped me recognize the importance of ethical responsibility, and this is
shaping how I will make decisions as a future accountancy professional to uphold public
trust."
C2: Copy the full sentence indicating the basis of PICS’s criminal charges against Mr.
Gwarube:
"A South African organisation focused on Protecting the Interests of Civic Society (PICS) laid
criminal charges against Mr Gwarube for violating his obligations in terms of both the
Companies Act and the Public Finance Management Act (PFMA)."
C3.1:
Motivate why the charges against Mr. Gwarube are considered criminal:
The charges against Mr. Gwarube are considered criminal because they involve violations of
statutory obligations under the Companies Act and PFMA, which regulate public financial
conduct. His actions allegedly caused harm to the organization by prioritizing personal gain,
aligning with common elements of criminal offenses such as breach of fiduciary duty and
corruption.
C3.2:
Reference for C3.1 research: Companies
Act 71 of 2008.
, C4:
Copy the full sentence describing the accusation brought against Mr. Gwarube by PICS:
"The charges against Mr Gwarube are based on leaked emails highlighting Gwarube’s role
in the sharing of sensitive KiloWatt information in return for his own personal financial
gain."
C5:
In the eyes of society, Mr. Gwarube compromised the required role by acting against the best
interests of KiloWatt and using his position for personal financial gain, violating both the Companies
Act and the PFMA.
C6:
The most relevant skill that Mr. Gwarube lacked is: "Accountability."
C7:
Two key attributes of the skill "Accountability" that Mr. Gwarube clearly lacked are:
1. "Taking ownership of actions."
2. "Being answerable to stakeholders."
C8:
KiloWatt falls into the public sector.
C9:
KiloWatt is a state-owned enterprise, meaning it is owned and controlled by the government, making
it part of the public sector.
C10:
The main management of KiloWatt is the board of directors.
C11.1:
One key mechanism used by KiloWatt is the implementation of internal controls.
C11.2:
A second key mechanism used by KiloWatt is the appointment of a social and ethics committee.
C12:
Mr. Gwarube’s role at KiloWatt was the chairperson of the board.
C13: No
C14:
Mr. Gwarube did not fulfill the requirements of his role, as he violated fiduciary duties by prioritizing
personal gain over the organization’s interests.
C15:
