Original Research

Enhancing risk-related disclosure in South Africa: a study on guidelines and current practices

Zack Enslin, Wilna Bruwer, Christa Viljoen
Journal of Economic and Financial Sciences | Vol 8, No 1 | a94 | DOI: https://doi.org/10.4102/jef.v8i1.94 | © 2015 Zack Enslin, Wilna Bruwer, Christa Viljoen | This work is licensed under CC Attribution 4.0
Submitted: 21 December 2017 | Published: 30 April 2015

About the author(s)

Zack Enslin, University of Stellenbosch, South Africa
Wilna Bruwer, University of Stellenbosch, South Africa
Christa Viljoen, University of Stellenbosch, South Africa

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Investors partake in the risk of a company, in expectation of a return on investment which is in accordance with the company’s risk profile. Due to recent corporate failures, which are partly attributable to insufficient risk management, a call by investors for enhanced risk-related disclosure resulted in the publication of various international standards and guidelines on best practices for risk disclosure. This study compiled a disclosure index from these standards and guidelines in order to serve as a disclosure-enhancing tool for the management of South African companies. This index was subsequently used to investigate current practices exhibited by top listed companies in South Africa. Disclosure practices by these companies indicate that there is scope for improvement in risk- and risk-management-related disclosure by these companies.


risk disclosure; risk management; risk identification; disclosure index; current practices


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1. Quality of Information Disclosed in Integrated Reports, in the Extracting Sector: Insights from Europe
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doi: 10.2478/subboec-2021-0011