THE King III report on corporate governance will be updated in order to make it easier for smaller entities, nonprofit organisations and even public sector entities to implement the principles set out in the report.Several smaller entities have complained that the implementation of some of the proposed governance structures in the King report were too onerous, to expensive and in certain instances to difficult to interpret and implement.The objective of the update was to ensure that these reasons for the "noncompliance", with the principles set out in the King report, would disappear, said Ansie Ramalho, Institute of Directors in Southern Africa CEO and head of the task team, which decided on the need for an update.The King committee on corporate governance was formed in 1992, under the auspices of the institute, to consider corporate governance. The purpose of the report was to promote the highest standards of corporate governance in SA.Ms Ramalho said legislative developments arou...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.