It pleases the IoDSA and the King Committee to invite public commentary on the draft King IVTM Report.
The IoDSA and the King Committee and embarked upon the fourth version of the King Report for corporate governance towards the end of 2014 due to local and international corporate governance developments. The King Committee also saw the redrafting process as an opportunity for further enhancing how corporate governance is regarded and applied across all sectors, which enhancement it sets out to accomplish with this further iteration of the benchmark for corporate governance in South Africa.
Limited consultation has already taken place during the drafting process and the rigour of public comment is now sought to ensure thorough consideration of diverse input before finalisation.
The public comment process takes place in 2 phases, the first of which invites comment on the whole of the King IVTM Report bar the Sector Supplements. The Sector Supplements are to be subjected to public comment during phase 2. The 2-phased approach provides for further consultation to be conducted on the Sector Supplements before public release thereof. As the sector supplements are not self-standing documents but premised on the remainder of the King IVTM Report, the public release of the draft King IVTM Report (in the main), allows for free sharing and access during the Sector Supplement consultation process in preparation for phase 2 commentary.
The first phase of the comment period runs from 15 March to 15 May 2016. Comment on the sector supplements will be opened at a later date on invitation and will also run for a 2 month period.