Background:

EWSETA subscribes to ethical and legislative principles. This requires that the Accounting Authority and its subcommittees, Executives, employees and stakeholders act with integrity at all times. All stakeholders are required to conduct business in a fair, transparent and impartial manner. For this reason, EWSETA strives to ensure that conflicts of interest do not compromise or are perceived to compromise business decisions.

In line with Chapter 1 of the EWSETA policy on Labour and Employee Relations (HR-LR 001), there is thus a general duty on all employees and Board members of the EWSETA to disclose any financial or other interest they may have in any transaction, or proposed transaction, between the EWSETA and a third party. Declaration of interest should be done annually or immediately as and when conflict arises. If an employee has not declared an interest, he/she may be subject to the EWSETA disciplinary code.

The Prevention and Combatting of Corrupt Activities Act (PRECCA) further prohibits members of public bodies from holding private interests in contracts with that body. That is, any public officer who acquires a private interest in a contract connected with the public body, is guilty of an offence. Exceptions to this offence include: (i) Where the public officer’s conditions of employment do not prohibit him/her from such holdings, (ii) Where the public official’s interest is as a shareholder of a listed company (iii) Where the contract is awarded through a tender and the official’s contract of employment does not prohibit this, and the tender process is independent.

Approved external work

Approved external work, including consultancies, should be disclosed as interests in the declaration form. Disclosure of an interest does not replace the need for a member of staff to seek appropriate permission to undertake external work and consultancy according to the EWSETA’s agreed procedures.

Should there be any clarity sought on the completion of this declaration, or should any of the form fields be insufficient to declare all relevant matters, kindly contact RiskandCompliance@ewseta.org.za for assistance.

Definitions:

  • Interest: An “interest” is a commitment, obligation, duty or goal associated with a particular social role or practice.
  • Conflict of interest: This refers to a situation where a conflict arises for an individual between two competing interests. These are often, but not exclusively, interests of public duty versus private interests. This refers to a reasonably perceived, potential or actual conflict of interest. Conflicts of interest can involve financial or non-financial interests of a staff member and the interests of a business partner or associate, family member, friend or person who has had a close personal relationship with the staff member.
  • Close personal relationship: A relationship between a staff member and a relative, a financially dependent person, a close friend, a de facto partner or any person with whom there is currently, or has been, an intimate relationship.
  • Family Financial Interest or Benefit: Defined the same as for Individuals, except this refers to Financial Interest or Benefit received directly or indirectly by a member of the Individual’s immediate family, defined as spouse/spouse equivalent; parents (step and in laws); brothers/sisters (step and in laws); and sons/daughters (step and in laws)
  • Direct financial interest means holding or benefiting, by a person, of an interest in a company by way of holding shares or consulting and/or performing professional work in that company.
  • Indirect financial interest means the holding or benefiting, by a person, of an interest in a company by way of holding shares or interest, claim, right, or other benefit through a third party (intermediary) that holds shares in that entity.
  • Member: Member in this context refers to a governance committee member, staff member , advisor and/or consultant at EWSETA