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

Authors

DOI:

https://doi.org/10.17159/1727-3781/2021/v24i0a10737

Keywords:

big data, artificial intelligence, independence, accountability, decision making, company directors

Abstract

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.

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Author Biography

  • Howard Chitimira, Faculty of Law at the North-West University

    Senior Lecturer

    North-West University           

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Published

29-06-2021

Issue

Section

Special Edition: Corporate and Financial Markets 2021

How to Cite

Hamadziripi, F. ., & Chitimira, H. (2021). The Integration and Reliance on Technology to Enhance the Independence and Accountability of Company Directors in South Africa. Potchefstroom Electronic Law Journal, 24, 1-32. https://doi.org/10.17159/1727-3781/2021/v24i0a10737

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