Original Research

Developing a regulatory framework for the financial, management performance and social reporting systems for co-operatives in developing countries: A case study of South Africa

Gideon Nieman, Karel Fouché
Acta Commercii | Vol 16, No 1 | a285 | DOI: https://doi.org/10.4102/ac.v16i1.285 | © 2016 Gideon Nieman, Karel Fouché | This work is licensed under CC Attribution 4.0
Submitted: 02 September 2014 | Published: 31 August 2016

About the author(s)

Gideon Nieman, Department of Business Management, University of Pretoria, South Africa
Karel Fouché, Department of Auditing, University of Pretoria, South Africa


Purpose: This report is on a team effort to advise the Department of Trade and Industry on the development of a regulatory framework for the auditing of Financial, Management. Performance and Social Reporting Systems for co-operatives. 
Orientation: There was no framework in place prescribing requirements for reporting on financial, management and social performance of co-operatives. As a result, the team assisted the Department of Trade and Industry with the development of a proposed reporting framework with reference to international best practices and existing financial reporting frameworks. 
Findings: The research performed showed that existing reporting frameworks and practices do not meet the reporting requirements of co-operatives in all aspects because of the different nature of co-operatives as opposed to shareholder-owned entities.


Co-operatives; Regulatory framework; Financial reporting; Stakeholders; Governance


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