Table of ContentsDirectors' Accountability and IntegritySocial IssuesEquityTransparencyAccountabilityComparative Study: KFCDirectors' Accountability and IntegritySocial IssuesEquityTransparencyDirectors' Accountability and IntegrityThe Directors are responsible for the preparation of the consolidated and separate annual financial statements of Spur Corporation Ltd. This shall include a summary significant accounting policies and additional explanatory notes which must be in line with the International Financial Reporting Standards as well as the requirements of the Companies Act of South Africa. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Directors are also responsible for preparing the directors' report. Directors are also responsible for internal control as they must ensure that the financial statement contains no errors or inaccuracies, whether or not they may be due to fraud or simply an error, and this is where risk management comes into play . must be supported by the audit committee. The board of directors must recognize its responsibility to ensure the integrity of the integrated report. Everyone must ensure that they have applied their minds to ensure that all material matters and information are correct and fairly present the integrated performance of the group. This integrated report has been prepared in line with best practices following the recommendations of the King Code III. King Code lll is the core of corporate ethics and governance. The board is also the focal point and custodian of corporate governance and ethics.¾ The director's responsibilities are listed: They are responsible for developing and adopting strategic plans and ensuring that they align with stakeholder interests and expectations However, they also ensure that these plans produce sustainable results for Spur and ensure that they do not cause risks that have not been carefully assessed by Spur's management. Spur directors also ensure that Spur is perceived as a responsible corporate citizen by taking into account Spur's financial characteristics and how Spur impacts the environment and society. They monitor operational performance and management. They also ensure that Spur has an effective and independent board of directors and statutory committees. They approve financial goals and objectives. They ensure that the company has effective risk management and internal controls. They ensure: that IT governance is managed, that there is effective management of the risk that will affect Spur's reputation, that there is legislative and regulatory compliance and the integrity of the integrated and interim reports and that they approve the integrated report, including the financial statements annual. They monitor Spur's solvency and liquidity and consider corrective responses when indicators of financial distress emerge. Social issues South Africa has a history of inequality due to apartheid. Therefore, businesses are encouraged to help the country of South Africa uplift those who were previously disadvantaged. The Spur Group encourages its affiliates to improve their Large-Scale Black Economic Empowerment (“B-BBEE”) status as part of their transformation obligation. If their franchisees do not have a B-BBEE acceptable level certificate, then there is a possibility that they will not obtain a liquor license, they may not obtain leases in strategic locations such as casinos or airports and/or landlords may penalize them . The B-BBEE status of suppliers can have a major influence on such affiliates. Spur Corporation seeks tobring about a transformation among the outsourced distributor's suppliers. They have found a solution to help their affiliates improve their B-BBEE status level. Apartheid also caused tensions between different races in South Africa, which has not been fully resolved and there is greater racial sensitivity in South Africa than in other countries. So when a video of a racially charged argument between two Spur customers was posted on social media, it went viral and caused some consumers to boycott Spur Steak Ranches in anger at the brand. Spur misjudged the extent of the impact the video had. on their results and because they failed to predict it, they did not handle the situation as well as they could have. This led to Spur losing some of its customers to the competitor. People in society all have different tastes and preferences. Spur seeks to satisfy the needs and desires of various types of people. Their menu tries to offer something for everyone, from the famous steaks, ribs and burgers for red meat eaters, to the famous Cheddamelt cutlets for chicken lovers, Spur also offers delicious desserts for those with a sweet tooth and special meals for children. for children. A large percentage of South Africans are poor, so it is in Spur's interests to provide for them and increase sales and customer numbers. Spur offers weekday specials featuring great value offers, such as the Unreal Breakfast and Classic Monday R50 Burger. Students might also be attracted to these good deals because they too have little money to spend. When families with young children go out, they look for a place that can provide for their children's needs. Spur does this not only with the option of a children's menu, but also with an area where they can play and have fun, with climbing walls, jumping castles, X-Box and some of their restaurants. There's also a secret tribe loyalty club, birthday party combo meal, free balloons and activity sheets. They also entertained children for hours and marketed their brand through digital applications such as Spur Tribe Dash, Spur Color Me 3D and Spur Birthday Jam. FairnessSpur Corporation seeks to achieve fairness in the workplace. They use compensation to attract, retain qualified employees and also to motivate them. This encourages them to consistently contribute to the company's success. Therefore, compensation is targeted at the upper quartile of reference salary levels for each individual's area of ​​expertise and responsibility. Spur aligns employee and shareholder interests by structuring compensation packages. This ensures that employees are fair and do not put their interests above the company. Spur tries to be fair to its employees by balancing guaranteed pay, short-term and long-term incentives for both executives and senior management. They use different ways to decide performance standards. Pay levels are fair as they are influenced by performance and do not consider discrimination to be unfair. Spur provides performance feedback regardless of breed and gender that takes place annually. Spur tries to be fair to its customers by offering its customers good quality, good sized portions that are worth their price. TransparencySpur is transparent with their food and safety standards as their customers have full insight into Spur's chefs when they cook, this creates an atmosphere of transparency, openness and honesty. They are open with their rigorous health and food safety processes. There are also hygiene and safety checks in these franchises to ensure everything is transparent and inorder. They are also honest and transparent about how often they are checked on their website. There are also numerous cameras filming Spur's cooks preparing meals. Spur tries to be transparent with its customers, so Spur labels correctly and demonstrates nutritional analysis. Their food claims are backed up by real nutritional analysis. ResponsibilitySpur took responsibility and apologized after the consumer uproar. They apologized for the incident in Johannesburg. A video of a white man and a black woman having a racially charged argument has gone viral and shocked many South Africans. Spur released a statement wholeheartedly apologizing for the way they handled the clash. They admitted that their reaction did not meet their high standards and that they should have done better. They also admitted that they had let down not only the South African public in this regard, but also themselves as a brand with high expectations for themselves. They have learned from their mistakes and are taking measures to keep their restaurant customers and staff safe. Following the incident, Spur provided its key staff with the necessary conflict resolution skills. Spur tries to take every complaint sincerely, even those that seem unusual or even absurd. However, there was an incident where a customer had made a reservation and their booked table was given away, and instead of taking responsibility, they mistakenly tried to influence the situation. blame the customer who ended up ruining the entire specially planned evening. This was a mistake that could have easily been remedied if only the manager had taken responsibility for his mistake. Comparative Study: KFC Directors' Responsibility and Integrity Shareholders and others are free to report any matters of concern to the Board. Directors have free access to KFC management and employees. Key members of management attend Board meetings to demonstrate information regarding the company's results, plans and operations, which fall within their areas of responsibility. KFC has an annual self-assessment process, introduced by the Council. It is guided by the Appointments and Governance Committee. The assessment focuses on the contributions the Board makes to the business and highlights those places where the Board believes a greater contribution can be created. KFC's audit, governance, compensation and nominating committees also conduct annual self-assessments. Directors' Responsibilities: Directors must make business judgments and decisions that they truly believe are in the best interests of Kentucky Fried Chicken but are also consistently consistent with their fiduciary duties. Directors should frequently attend meetings of the board and all board committees on which they serve. KFC directors are supposed to stay away from any action; a position or interest that could conflict with company interests even if only apparently such may constitute a conflict. KFC requests information from its directors every year in order to research possible conflicts of interest. KFC directors must be aware of their fiduciary duties to the company. KFC directors are motivated to turn to general counsel for advice when they find themselves in a position where they face a possible conflict of interest. Social IssuesKFC has a corporate social responsibility program, Add Hope, where customers donate R2 through KFC. Many children in KZN struggle with hunger and.