Book: IoDSA King IV Report on Corporate Governance for South Africa 2016

The King IV report is the 'Bible' for corporate governance. It provides a fundamental base to running ethical entities. It is not just for corporate organisations, it includes subsections for: Municipalities, | Non-Profit Organisations | Retirement funds | Small and Medium Enterprises | State-Owned Entities | 

There are 16 Principles:

• Principle 1 = The governing body should lead ethically and efficiently
• Principle 2 = The governing body should govern the ethics of the organisation in a way that supports the establishments of an ethical culture
• Principle 3 = The governing body should ensure that the organisation is an and is seen to be a responsible corporate citizen
• Principle 4 = The governing body 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 governing body 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
• Principle 6 = The governing body should serve as the focal point and custodian of corporate governance in the organisation
• Principle 7 = The governing body should comprise the appropriate balance of knowledge, skills, experience, diversity and independence for it to discharge its governance role and responsibilities objectively and effectively
• Principle 8 = The governing body should ensure that its arrangements for delegation within its own  structures promote independent judgement, and assist with balance of power and the effective discharge of its duties
• Principle 9 = The governing body 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
• 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 governing body should govern risk in a way that supports the organisation in setting and achieving its strategic objectives
• Principle 12  = The governing body should govern technology and information in a way that supports the organisation setting and achieving its strategic objectives
• Principle 13  = The governing body 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
• Principle 14  = The governing body 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 governing body 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
• Principle 16  = The execution of its governance role and responsibilities, the governing body 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 the good governance and the creation of value by the companies in which it invests

The Insititute of Directors in Southen Africa (IoDSA), are the custodians of King IV. There is a wealth of information on their website. Their certified and chartered Directorship programs should be a non-negotiable course for all executives.