With the introduction of King III in September 2009, Deloitte ensured that all its partners, directors, managers and crown jewel clients were informed of the specific changes required by the new Code.
The King Report on Governance for South Africa 2009 (King III) provides best practice principles to assist and guide directors to make the right choice for their company. These principles have become an indispensable guide on Corporate Governance to directors, executives and regulators alike.
King III provides guidance to all corporate entities and enterprises on various governance related aspects, including:
- Ethical leadership and corporate citizenship
- Boards and directors
- Audit committees
- The governance of risk
- The governance of information technology (IT)
- Compliance with laws, rules, codes and standards
- Internal audit
- Governing stakeholder relationships
- Integrated reporting and disclosure
In addition to ensuring that our clients are fully appraised and prepared for King III, Deloitte has also finalised a rigorous process internally to ensure our own governance structures and procedures adhere to the new King Code.