King IV Corporate Governance Training
King IV defines South Africa’s requirements for compliance governance. The King IV Principle 13 recommends 8 practices for compliance governance that align with governance principles and governance outcomes. The recommended practices include strategic direction and policy on compliance from the governing body and the adoption of the appropriate standards and framework to give effect to the policy.
King IV recommends that the governing body delegate to management responsibility for implementing policy on enterprisewide compliance management and for embedding it into the day-to-day, medium and long-term decision making, activities and culture. The governing body is to oversee management of compliance with laws and adherence to non-binding rules, codes and standards.
King IV requires practices that align with principles, and principles that align with governance outcomes. Governance systems should be designed to reinforce and govern a holistic and inter-related set of arrangements that can be understood and implemented in an integrated manner using organisational structures, processes and ethical, conscious behaviour.
ISO 19600 is an international stardard provides guidance for establishing, developing, implementing, evaluating, maintaining and improving an effective and responsive compliance management system within an organization.
ISO 19600 requires that the governing body and top management demonstrate leadership and commitment with respect to the compliance management system by establishing and upholding the core values of the organization, ensuring that the compliance policy and compliance objectives are established and are consistent with the values, objectives and strategic direction of the organization and ensuring that policies, procedures and processes are developed and implemented to achieve compliance objectives.
This seminar will assist participants understand the King IV requirements for compliance governance and learn how to improve their current capability to fulfil compliance obligations and achieve compliance objectives.
On completion of this seminar, participants will be able to:
- Demonstrate an understanding of King IV corporate governance framework, the applicable principles and practices for compliance governance
- Articulate a plan of action to address the requirements of King IV and assist the governing body and top management fulfil their compliance governance responsibilities as set out in King IV
- Design and implement a compliance governance framework and management system using the guidance of ISO 19600
- Develop a suitable accountability framework, organisational structures, policies, processes and practices
- Perform reviews and report on the compliance governance framework.
- The role of the board and top management in governing how compliance supports the organisation
- Developing policy for the articulation of strategic direction and adoption of appropriate standards and frameworks
- Implementing policy for enterprise-wide compliance management, long and medium-term decision-making and integration into day-to-day operations
- Managing compliance with laws and adherence to non-binding rules, codes and standards
- Mechanisms for monitoring and assessing adequacy and effectiveness of compliance
- Undertaking formal reviews of the adequacy and effectiveness of the organisation’s compliance function.