The King Committee published the King IV Report on Corporate Governance for South Africa 2016 (King IV) on 1 November 2016. King IV is effective in respect of financial years commencing on or after 1 April 2017. King IV replaces King III in its entirety.
We believe the new code represents a positive step forward, in that it is principles-based and outcomes-based, and it takes the challenges and realities of today’s business world into account. Here, we break down exactly what is different and what is new, and explain how companies are expected to apply these changes.