3 December 2009

King III in a Nutshell

King III in a Nutshell - Cliffe Dekker Hofmeyr has published a useful handbook that gives an overview of some important issues contained in King III and highlights some key comparisons with King II.

The King Report on Governance for South Africa 2009 (King III) provides guidance on good corporate governance practices. The Report became necessary because of the anticipated introduction of the new Companies Act in 2010 and changes in international governance trends since the publication of King II in 2002.

King III will become effective on 1 March 2010. The current King II will apply in the meantime.

King III It is set to promote more stringent standards of corporate governance and greater director accountability and Cliffe Dekker Hofmeyr has set up a Corporate Governance compliance and risk team to help company directors and boards ensure that proper structures and processes are established with appropriate checks and balances.

As well as publishing this handy guide, the law firm publishes a number of newsletters and articles aimed at enabling directors to fulfill their duties and responsibilities and know when to seek advice.

Knowing the principles and best practice guidelines will ensure the effective performance and sustainable economic value of companies and organisations - this will protect and enhance shareholder and stakeholder value.

Contact details of the Corporate Governance compliance and risk team can be found in the booklet, King III in a Nutshell. The team can advise on and identify relevant issues for any company. Its services focus on:

  • Directors' fiduciary and other duties in King III and the Companies Act 2008
  • Proper governance of tax affairs
  • Ensuring compliance with duties relating to environmental issues
  • Information technology governance
  • Anti-corruption requirements
  • Media and telecommunication compliance

For more information, please contact Monique du Preez, a director and head of Cliffe Dekker Hofmeyr's Knowledge Management department.

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