GOVERNANCE, RISK MANAGEMENT AND COMPLIANCE Governance Governance within the CBE is anchored by robust, multi-tiered structures designed to uphold academic integrity and ensure ethical decision-making across all operations. The College operates through a comprehensive framework of committees, including the College Leadership Team, the Higher Degrees Committee, and the Research Ethics Committee, whose decisions are ratified by the Board of College and ultimately the University Senate. In 2025, this governance model has been further strengthened by the first line of defence approach, where every staff member is encouraged to take responsibility for quality and compliance within their specific functional areas. This culture of accountability ensures that the College remains agile and transparent, particularly as it navigates the complex regulatory requirements of both l ocal and international academic environments. CBE Leader Team Risk Management Risk management in the CBE has evolved into a proactive discipline. Through a risk management workshop, the College has identified key risks. Following this, it implemented a rigorous risk mitigation process that frequently revisits internal and external threats. A significant focus for 2025 has been the management of ‘complacent’ AI use to ensure that the integration of artificial intelligence into the curriculum is matched by responsible governance and ethical standards. Key risks and their responses are below: The ageing professoriate The risk: A significant portion of the CBE’s senior academic leadership and NRF-rated scholars are approaching retirement. This presents a threat to institutional memory, research output stability, and the continuity of high-level postgraduate supervision. Mitigation: The College has intensified its succession planning and mentorship framework, which pairs senior professors with early career researchers and senior lecturers. The opportunity: This transition allows for a strategic re-profiling of the faculty. As vacancies arise, the CBE will be able to recruit emerging scholars who have received mentorship, ensuring the academic body remains aligned to the UJ Strategic Plan 2035. Staff resignations and talent attrition The risk: The global and local competition for high-calibre academics, particularly those with professional designations like CA(SA), CFA or expertise in Data Science leads to the risk of brain drain. Mitigation: To counter this, the CBE has enhanced its value proposition for staff; by focusing on fostering a culture of excellence and global visibility, the College increases staff loyalty. The opportunity: Natural attrition provides an opening to strengthen transformation and diversity. It allows the College to attract diverse, top-tier talent that brings fresh industry networks, further bridging the gap between theory and practice through new industry advisory committees. The unethical use of artificial intelligence The risk: The rapid integration of generative AI poses a significant threat to academic integrity. Over-reliance on AI use where students or staff bypass critical inquiry in favour of automated outputs threatens the credibility of the CBE’s peer-reviewed scholarship and the validity of student assessments. Mitigation: The College follows University guidance in using AI-detection tools, promoting the redesign of assessments to focus on authentic learning and oral defences. We are also introducing compulsory training on the Ethical Use of AI for all researchers. The opportunity: By leading the conversation on AI ethics, the CBE is positioning itself as a global authority on digital governance. Resource management The CBE manages its resources with a strategic focus on long-term sustainability and the optimisation of human capital. By 2025, the College has achieved significant milestones in staff development, with further academic staff earning doctoral degrees and a growing number of NRFrated researchers. Resource allocation is strictly aligned with the UJ Strategic Plan 2035, prioritising investments in digital infrastructure and research support systems. The College continues to optimise its third-stream income sourced from research grants, industry partnerships, and executive education to fund innovative projects and provide essential scholarships for the growing postgraduate student body. Transformation Transformation at the CBE is a lived reality, moving beyond compliance to foster an inclusive and decolonised academic environment. The College’s transformation agenda is reflected in its diverse staff profile and its commitment to producing graduates who are socially conscious and ready to lead in a globalised economy. Flagship initiatives, such as the Decolonisation Committee, ensure that the curriculum remains relevant to the African context, while the conferral of honorary doctorates on pioneers, such as Prof Wiseman Nkuhlu, serves to institutionalise a legacy in business and accounting. The College is working on putting together the transformation committee. Financial Management Financial management within the CBE is characterised by transparency, prudence, and a results-oriented approach to budgeting. The College’s financial position remains stable, driven by a diversified revenue model that successfully balances traditional academic funding with aggressive external fundraising. In 2025, the CBE secured over R25 million in external funding, demonstrating a high degree of fiscal competitiveness and industry trust. These funds are meticulously managed to ensure they directly support the College’s strategic priorities, such as the enhancement of research output units, mentoring and skills development and student financial support. By maintaining an audit trail and aligning all expenditures with predetermined institutional objectives, the CBE ensures that it remains a financially viable academic entity. SARChI ID Decolonising Finance seminar 82 83 College of Business and Economics | Annual Report 2025 College of Business and Economics | Annual Report 2025
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