INTRODUCTION:

This paper is an analytical essay on a well-known king IV Standard Bank Group organization that has
successfully implemented one of the popular governance framework.
Standard Bank Group is Africa’s largest bank, with a 160-year track record of operational excellence and
value. It is a leading African integrated financial services group offering a full range of banking and
financial services. It operates in 20 countries in sub-Saharan Africa and in the major global financial
centers. The group owns a controlling stake in South African listed insurance and wealth management
group Liberty Holdings. They lead with purpose and strive to create an environment that brings out the
best in people to passionately serve clients, deliver operational excellence and contribute to achieving
sustainable growth, which is core to their strategy. They also operate with integrity and their reputation as
a trusted partner is founded on the strength of our risk management processes, governance structures and
ethical personnel, market and societal conduct. Moreover, Standard Bank Group (SBG) is a commercial
bank headquartered in Johannesburg, south Africa and offers its customers transactional banking, saving,
borrowing, lending, investment, insurance, risk management, wealth management, and advisory services.

BACKGROUND:
A strong governance framework organizes operational, risk management, reporting and financial
processes to ensure the board is continually updated. Rules and systems create a robust framework for
governance, and the framework provides the structure that drives the strategic plan. With risk governance
framework risks are minimized allowing for optimal benefits from changes without as many negative
consequences. With the increased use of social media and technology, new vulnerabilities and risks arise
creating need for protection. Adopting a framework can help organizations continue to grow while
mitigating future risk. An effective framework has the ability to deliver results that make a difference in
organization performance; they should not just be a list of standards and rules. So, the Standard Bank
Group subsidiary governance framework includes;
• Monitored the adoption of the subsidiary governance framework by group subsidiaries
• Considered and approved the updated dispute resolution guideline which set out the process to
be followed when dealing with disputes that arise between directors
• Considered the composition of subsidiary boards across Africa Regions and international
subsidiaries, taking into account the length of tenures, independence and gender diversity, etc.
and knowing with their Collective skills and experience are
• Banking and financial services
• Accounting and auditing.
The chosen governance framework has contributed to the organization's success and overall performance
by the purpose of corporate governance is to help build an environment of trust, transparency, and
accountability necessary for fostering long-term investment, financial stability, and business integrity,
thereby supporting stronger growth and more inclusive societies (i) accountability, (ii) participation, (iii)
predictability, and (iv) transparency. It endures everyone also that follows appropriate and transparent
decision-making processes and that the interests of all stakeholders (shareholders, managers, employees,
suppliers, customers, among others) are protected.
Behind the success of Standard Bank Group there also some challenges and limitations occur when the
implementation of governance framework took place.
King IV is a set of voluntary principles and good practices of corporate governance. If King IV conflicts
with any legislation, the legislation will prevail. The fact that King IV is not legally binding in itself does
not mean that there are no legal consequences arising from non-compliance. A court will consider King
IV when evaluating what is regarded as practice in a particular situation, especially where governance
duties are involved. Failure to meet corporate governance practice, and by implication the principles out
in King IV, may invoke liability of the board in certain circumstances. A court will consider King IV
when evaluating what is regarded as practice in a particular situation, especially where governance duties
are involved.

CONCLUSION:
In the light of the above analysis of the King IV Report, it is evident that the King Commission and the
IODSA have done an excellent job in drafting the fourth edition of this important corporate governance
report and code for South Africa. I identified the strengths of the Report and Code in this article.
However, achieving the four governance outcomes of an ethical culture, good performance, effective
control, and legitimacy requires a dedicated focus on the four roles and responsibilities of governing
bodies, i.e. strategic direction, policy and planning, accountability, and lastly oversight and monitoring.

Despite the undisputed quality and potential impact of the King IV Code as a world-class blueprint for
corporate governance, it appears as if organizations continue to experience challenges implementing the
spirit and guidelines embedded in the King Reports. This problem manifests itself in the strategy-
execution gap experienced by many organizations. While most boards would express a commitment to
good governance, the reality is that boards and management teams often fail in practice to ensure good
governance. For instance, most organizations have clear policies on ethics, yet they fail to achieve ethics
throughout an organization. The continuous prevalence of major corporate and government scandals is
evidence that corporate governance is not equally well understood and implemented by all organizations.
Let us focus on the four “kings” of King IV and ensure improved corporate governance in our
organizations, not only for the benefit of our companies, but also society as a whole.

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