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KING IV - Coggle Diagram
KING IV
Highlights of the King IV
Delegation to committees
Corporate governance services to the governing body
Delegation to management
Social and ethics committees
Technology and information
Balanced composition of governing bodies and independence
Integrated reporting
Compliance
Risk and opportunity
Renumeration
Assurance and internal audit
Auditor and audit requirements
Tax
Shareholder activism
Dispute resoultion
Distinguishing Features of King IV
Interpretable and implementable
Guidance on applying practices in depth based on firm size, resources, etc.
Accessibility
Differentiation between principles and practices
Greater emphasis on transparency
Outcomes-based approach
Corporate Governance (ethical and effective leadership)
Good performance
Effective control
Ethical culture
Legitimacy
Governing Body's Primary Governance Role and Responsibilities
Approves policy and planning
Oversees and monitors
Steers and sets strategic direction
Ensures accountability
Objectives of King IV
Reinforce corporate governance
Encourage transparent and meaningful reporting
Broaden acceptance of the King IV
Present corporate governance
Promote corporate governance
Underpinning Philosophies of King IV
Corporate citizenship
Stakeholder inclusivity
Integrated thinking
The organisation as an integral part of society
Triple Context and Six Capitals
Triple context: economy, society, environment.
Six capitals: financial, manufactured, intellectual, human, social, relationship, natural capitals.