It has been announced that the 2009 King Report (King III) is to be updated in light of recent developments in corporate governance. King III has been widely applauded both locally and internationally in its progressive thinking and philosophies.
Ansie Ramalho, CEO of the Institute of Directors in Southern Africa, writing in the Sunday Times: Business TImes argues that while the announcement of the update has been met with with some reluctance, there is a strong argument for supporting the update.
It is not about putting in place more rules — we need better regulation, not more. As such, there will not be a significant departure from the solid foundations and philosophy set by King III and companies therefore need not fret about a host of additional principles and practice recommendations.
Complete article: Business Day
Tom Wixley and Geoff Everingham, authors of Corporate Governance, are currently updating and revising their book – which will include the updates to the King report – for release in early 2015.
Corporate Governance: 3rd Edition by Tom Wixley & Geoff Everingham