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King IV™ is voluntary applied, on an Apply and Explain basis.

It applies to all organisations, regardless of their form of incorporation. It is structured as a Report that includes The Code™, and additional separate sector supplements for SME’s, NPO’s, State-Owned Entities, Municipalities and Retirement Funds.

Purpose of The Code™:

It focuses on the following outcomes:

  • Ethical culture
  • Good performance
  • Effective control
  • Legitimacy

Principles and practices contained in The Code™:

  • Leadership
  • Organisational ethics
  • Responsible corporate citizenship
  • Strategy and performance
  • Reporting
  • Primary roles and responsibilities of the governing body
  • Composition of the governing body
  • Committees of the governing body
  • Evaluation of the performance of the governing body
  • Appointment and delegation to management
  • Risk governance
  • Technology and information governance
  • Compliance governance
  • Remuneration governance
  • Assurance

Governing body responsibilities explained in The Code™:

  • Strategy
  • Policy
  • Oversight
  • Accountability

When is The Code™ effective:

King IV™ was released on 1 November 2016. It is effective for financial years commencing from 1 April 2017.

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