King IV™ Applicability of The Code™:

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.