Good governance is key to sustainable development and will help South Africa win uphill battles in an ever-complex global environment; however, “leakages” in the processes are weakening accountability and transparency.

The effective application of good governance allowed for a stakeholder platform to “voice expectations and be heard”, the cocreation of solutions and collaboration in implementation, accountability and continuous improvement, Deputy Auditor-General Tsakani Ratsela said on Thursday.

Speaking on the second day of the eighth Premier Corporate Governance Conference, in Johannesburg, she explained that, while all the required structures for good governance were in place, application thereof had, in some instances, left “leakages” that were being taken advantage of.

Further, the lack of consequences for governance failures is a key barrier to resolving such “leakages”, particularly in the public sector.

This left a need to be evermore diligent in implementing correct procedures in the public sector and thus driving institutions that were accountable, transparent and practice good governance, Ratsela said.

The laws were designed to protect the public purse, with a process in place that was fair, equitable, transparent and effective and clean audits were indicators of whether this was being driven properly, she told delegates at the two-day Chartered Secretaries Southern Africa-hosted conference.

The outcomes of poor audits were a result of failure in one or more of three indicators of transparency, accountability and good governance, Ratsela said, namely credible financial information, reliable performance data and compliance with the key governing laws and regulations.

A weakness in any one of the pillars eats away at accountability at the institution, leading to missed opportunities, and gaps in sourcing optimal benefits, building collaboration and strengthening leadership culture.

Further, inadequate stakeholder participation and consultations with citizens led to the “voice of the more powerful” influencing the directions of policies and actions, she explained, often at the expense of the poor.

The application of good governance will build effective collaboration and trust, which is essential, as in a challenging economy, neither the public nor private sectors can succeed alone, with civil society’s voice playing an ever-important role.

“When collaboration is in place . . . that is when you start winning the battle,” Ratshela noted.

Good governance equates to effective participation, following the rule of law, responsiveness, equitability and inclusivity, effectiveness and efficiency, accountability and transparency.