KPMG supports good governance and is a platinum sponsor of the “The King IV Report on Corporate Governance for South Africa 2016, Institute of Directors Southern Africa” also known as King IV™.
Good governance is beneficial for stakeholders. A well governed organization inspires the confidence of its stakeholders and lowers the cost of its capitals. Inclusive and integrated governance that aspires to sustainability is good for society, the economy and South Africa. Whilst King IV™ is not law, the governance outcomes achieved and the practices adopted and implemented will likely become the criteria by which the required standard of care and appropriate standards of conduct of the governing body and its members are measured.
The role of the governing body is to lead the organization through the discharge of its responsibilities in relation to strategic direction, policy approval, oversight and accountability such that the good governance outcomes of an ethical culture, good performance, effective control and legitimacy with stakeholders are achieved by the organisation. In aspiring to fulfill this role and discharge these responsibilities, the King IV Code™ provides the 16 principles and 208 recommended practices that should assist the governing body and the organization attain its ‘good corporate citizen’ status and good governance outcomes.
Download this summary of Governing Body and Good Governance.
The King IV Report on Corporate Governance for South Africa 2016, Institute of Directors Southern Africa” is owned by the Institute of Directors in Southern Africa NPC with all rights reserved and is available at http://www.iodsa.co.za/?page=AboutKingIV”