Evaluation of Corporate Governance practices at the Namibian Government Institutions Pension Fund (GIPF)

Book excerpt: Master's Thesis from the year 2016 in the subject Business economics - Business Management, Corporate Governance, , language: English, abstract: This evaluation of Corporate Governance practices at the Namibian Government Institutions Pension Fund (GIPF) is a qualitative single case study. The study utilized both primary and secondary data to answer the question whether GIPF was in compliance with the criteria relating to audit the committee, governance of risk as well internal audit functions as guided by the Namibia Code for Corporate Governance (NamCode). The study concluded that overall, the Government Institutions Pension Fund is indeed complying with the majority of the aspects assessed regarding requirements for audit The committee, governance of risks as well as internal audit functions. It appears that in some cases, the company complies with certain criteria how it is being documented may not be exactly how it is guided by the governance framework as stipulated in the NamCode. In most cases, where the study finds the company to be partially in compliance as opposed to full compliance, it is a question of the style used by the company in documenting how they are applying their corporate governance framework. Considering that only three out of nine principles of corporate were assessed; it is important to document that the survey only provide a snapshot of GIPF compliance to the governance framework and conclusions of this study cannot be taken as a complete view in any way. The study recommends that the company conform to the style of documenting their application of corporate governance principles to that of the governance framework provided for in NamCode. The adjustment is very important as it will help in ensuring consistency and standards especially when studies of this nature are to be conducted again. Finally, the study recommends that assessment of all nine principles of corporate governance be conducted preferably on an annual basis if GIPF is to keep in touch with the reality in as far as how they are doing regarding compliance.