Tag: King IV

The first reports and disclosures in line with King IV principles are beginning to appear. King IV is effective in respect of financial years starting on or after 1 April 2017. It would appear that certain organisations still require a deeper understanding of the implications of King IV’s 'apply and explain' approach.

The role of a company secretary is broad and onerous to say the least and, if this post is not occupied by a competent person who has the appropriate knowledge and skills; the consequences can be the cause of significant organisational friction.

The duty of directors to act in the best interest of the company has traditionally been to maximise profits for the company's shareholders. Over time, however, public opinion has dictated that a variety of other stakeholders' interests should also be recognised. So, can the directors of these companies be held personally liable by the South African public as ultimate stakeholders? And, what exactly are the duties of directors of State Owned Companies (SOC)? 

Most modern, well-governed organisations are acutely aware of the need for their businesses to be run in an ethical and socially-conscious manner and for this ethos to be communicated to their stakeholders.

In his much-lauded State of the Nation Address (SONA), President Cyril Ramaphosa devoted considerable attention to the challenge of rooting out corruption in government. The IoDSA has consistently argued that ethical institutions in both the public and private sectors alike are created from the top down, and that an organisation’s directors bear the main responsibility for ensuring that ethics are embedded in its DNA.

South Africa’s non-executive directors cautioned to exercise due care in discharging their responsibilities in the wake of recent corporate disasters. Boards are under significant pressure to continually transform in the face of disruptive technology, globalisation, political and economic uncertainty, and a volatile marketplace.

Melanie De Nysschen | Principal | Bravura | mdnysschen@bravura.net | www.bravura.net | Listing on a stock exchange is not just the reserve of large corporations. ...

LexisNexis is proud to bring you the third edition of this popular reference work on corporate governance. The book combines a detailed exposition of the...

Businesses and public organisations lose millions of rands each year to fraud and theft, often perpetrated by their own employees. Moreover, the value that...

Social inequality is a strategic risk for businesses globally, and particularly in South Africa. Consequently, directors need to ensure that initiatives to reduce inequality...