King IV
Focuses on corporate governance
Exercise of ethical and effective leadership by governing body
Good performance
Effective control
Ethical culture
Legitimacy
Governing body responsibilities
Oversees and monitors implementation and execution by management
Ensures accountability
Approves policy and planning
Steers and sets strategic direction
Objectives of King IV
Reinforce corporate governance as holistic and interrelated set of arrangements
Encourage transparent and meaningful reporting to stakeholders
Broaden acceptance of the KING IV
Present corporate governance as concerned with ethical consciousness and conduct.
Promote corporate governance
Underpinning philosophies
Sustainable development
Stakeholder inclusivity
The organisation is an integral part of society
Corporate citizenship
Integrated thinking
Integrated reporting
Highlights of the KING IV code
Technology and information
Compliance
Risk and opportunity
Social and ethics committees
Remuneration
Performance evaluations of the governing body
Assurance and internal audit
Corporate governance services to the governing body
Auditor and audit requirements
Tax
Delegation to committees
Shareholder activism
Delegation to management
Dispute resolution
Balanced composition of governing bodies and independence
Integrated reporting
KING IV in action
Leadership of governing body
Steers and sets strategic direction
Approves policy and planning
Oversees and monitors
Ensures accountability
Principles
Embody aspirations towards good corporate governance
19 Principles in total
Practices lead to Outcomes
Legitimacy
Effective control
Good performance
Ethical culture