Governance is King!

The document is about the South African King III Code of Governance, authored by Mervyn King. This code aims to
change the culture and practices of organizations at all levels by promoting an integrated and inclusive approach to
corporate governance. It was first issued in 1994 and revised in 2002 and 2009. The code encourages the integration
of governance and sustainability into an organization's strategy, operations, and reporting. Sir Adrian Cadbury, a
leading figure in corporate governance, praised the code for raising standards.

The main outcomes of the case are:

1. The code revolves around responsible leadership, directing company strategies for sustainable economic, social,
and environmental performance.
2. The code is based on an "apply or explain" basis, providing boards with the freedom to apply. recommendations
differently or explain departures from the recommendation, thus promoting flexibility in practice.
3. The code recommends the integration of economic, social, and environmental reporting, emphasizing the impact
of a company's business on the community and the environment, and how to enhance positive aspects and mitigate
negative ones.
4. The development of a responsible investor code for financial institutions to carry out their responsibilities and
ensure that the directors they vote for have the ability and capacity to carry out their duties
5. The code emphasizes the integration of sustainability issues pertinent to the business of the company when
working out its long-term strategic direction.