The draft King IV Report on Corporate Governance for South Africa 2016 (Draft King IV) issued by the Institute of Directors in Southern Africa (IODSA) was released for public comment on 15 March 2016.
KPMG supports good governance in South Africa and has contributed to the inclusive and consultative drafting process of King IV. In addition, KPMG has provided its formal input into the public comment process.
This communique summarises some notable features of Draft King IV. Readers are however advised to consult the full King IV draft available on the IODSA website.
This document provides a high-level overview of draft King IV code.
The Basel Committee on Banking Supervision issued Guidelines: Corporate governance principles for banks dated July 2015 (‘Basel guidelines’).