UNDERSTANDING AND COMPLYING WITH KING IVTM

DURATION:  2 days

OVERVIEW

Corporate Governance has evolved significantly in the last 25 years, and the arrival of King IV^TM in November 2016 adds a new level of interest not just from large organisations but for Small and Medium Enterprises, Non-Profit Organisations and State-Owned Enterprises who need to demonstrate they can deliver the governance outcomes of Ethical culture, Good governance, Effective Control and Legitimacy.

This workshop will help delegates to understand the key issues in the King IV Report and Code^TM, and delegates will receive a comprehensive King IV Code^TM Assessment Tool and supporting documents pack which will speed the effectiveness of King IV^TM principles and practices in their organisation.

What to expect from the course?

• Demonstrate a clear understanding of the King IV Report and Code ^TM structure and purpose
• Demonstrate a clear understanding of the King IV Code^TM Principles and Practices
• Be able to identify how to achieve the Governing Body Overarching Responsibilities
• Be able to identify how to achieve the Governing Body Governance Outcomes
• Be able to conduct a King IV Code^TM Compliance Assessment
• Be able to compile a King IV Code^TM Application Register
• Be able to use a pack of supporting documents for King IV Code^TM compliance

Who should attend?

• Audit and Risk Committee Members
• Audit Executives
• Compliance officers
• Governance officers
• Internal audit officers
• Legal officers
• Risk and Audit Committee Members
• Risk officers

­

Course Content

DAY 1

Workshop Introduction

• Welcome, introduction to delegates
• Workshop Objectives & Agenda
• Workshop administrative arrangements & review of delegate materials

Introduction to the King Report & Code^TM 

• History and evolution of Corporate Governance in South Africa
• King IV^TM Glossary
• King IV^TM Fundamental Concepts

King IV^TM Application and disclosure 

• Compliance with laws and regulations
• Codes of practice
• Disclosure requirements

King IV^TM Code Principle 1 to 3

• Principle 1: The Governing Body (GB) should lead ethically and effectively.
• Principle 2: The GB should govern the organisation’s ethics in a way that supports an ethical culture
• Principle 3: The GB should ensure that the organisation is and is seen to be a responsible corporate citizen.

King IV^TM Code Principle 4 & 5

• Principle 4: The GB should appreciate that the organisation’s core purpose, its risks and opportunities, strategy, business model, performance and sustainable development are all inseparable elements of the value creation process.
• Principle 5: The GB should ensure that reports issued by the organisation enable stakeholders to make informed assessments of the organisation’s performance, and its short, medium and long-term prospects

King IV^TM Principle 6 & 7

• Principle 6: The GB should serve as the focal point and custodian of corporate governance in the organisation.
• Principle 7: The GB should comprise the appropriate balance of knowledge, skills, experience, diversity and independence for it to discharge its governance role and responsibilities objectively and effectively.

King IV^TM Principle 8 & 9

• Principle 8: The GB should consider ensure that its arrangements for delegation within its own structures promote independent judgment, and assist with balance of power and the effective discharge of its duties.
• Principle 9: The GB should ensure that the evaluation of its own performance and that of its committees, its chair and its individual members, support continued improvement in its performance and effectiveness.

King IV^TM Principle 10 & 11

• Principle 10: The governing body should ensure that the appointment of, and delegation to, management contribute to role clarity and the effective exercise of authority and responsibilities.
• Principle 11: The GB should govern risk in a way that supports the organisation in setting and achieving its strategic objectives.

Video and discussion

• Governance video and Group discussion

DAY 2

Morning Quiz on Day 1 topics

King IV^TM Principle 12 & 13

• Principle 12: The GB should govern technology and information in a way that supports the organisation setting and achieving its strategic objectives.
• Principle 13: The GB should govern compliance with applicable laws and adopted, non-binding rules, codes and standards in a way that supports the organisation being ethical and a good corporate citizen.

King IV^TM Principle 14 & 15

• Principle 14: The GB should ensure that the organisation remunerates fairly, responsibly and transparently so as to promote the achievement of strategic objectives and positive outcomes in the short, medium and long term.
• Principle 15: The GB should ensure that assurance services and functions enable an effective control environment, and that these support the integrity of information for internal decision-making and of the organisation’s external reports.

King IV^TM Principle 16 & 17

• Principle 16: In the execution of its governance role and responsibilities, the GB should adopt a stakeholder-inclusive approach that balances the needs, interests and expectations of material stakeholders in the best interests of the organisation over time.
• Principle 17: The governing body of an institutional investor organisation should ensure that responsible investment is practiced by the organisation to promote good governance and the creation of value by the companies in which it invests.

King IV^TM Sector supplements

• Non Profit Organisations
• Small and Medium Enterprises
• State Owned Enterprises

 Assessment of King IV compliance

• Practical exercise using assessment tool

 Final assessment

• 20 question multiple choice assessment

 Workshop closure activities

• Personal action plan
• Workshop feedback
• Recognition of achievements
• Closing ceremony

Day closes at 16:30

Course Pack

Each delegate will receive a copy of the King IV Report and Code^TM; Dr Tobin’s King IV Code^TM Assessment Tool; King IV^TM Compliance document pack; copies of workshop slides; additional supporting material.

LAPTOP OR TABLET REQUIRED

Due to the practical nature of this workshop delegates are required to supply their own laptop or tablet which support Adobe PDF documents and Excel workbook documents.